Sequoia's Roelof Botha said he thinks there are large improvements to be made for Twitter's current business and that Elon Musk’s takeover bid will be a success
said he thought Twitter could find better ways to make money beyond advertising and improve its product. Sequoia has committed $800 million for the deal. The funding is set to come from Sequoia’s main venture funds, its wealth management business called Heritage, and its crossover fund Sequoia Capital Global Equities.
“Elon has succeeded in many different industries,” Mr. Botha said. “He’s an incredible first-principles thinker.” At WSJ Tech Live, Sequoia's Roelof Botha breaks down its China arm of business. Photo: Nikki Ritcher for The Wall Street Journal Sequoia’s commitment to the deal comes when the fundraising pace for large startups has slowed amid the technology rout. Mr. Botha warned of tough times to come, predicting that a recession was likely and that the current drought in public listings would last for at least a year. In March, Sequoia issued a memo to its founders advising them to cut costs in anticipation of a worsening macroeconomic environment.
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