Little-known Hollywood Investor Who Put Together a Billion-dollar Stake in Twitter
From Reuters via peHUB:
When Twitter goes public in coming weeks, one of the
biggest winners will be a 47-year-old financier who guards his secrecy
so zealously that he employs a person to take down his Wikipedia entry
and scrub his picture from the Internet.
Over the past two years, Suhail Rizvi, founder of New York private equity firm Rizvi Traverse Management,
has quietly amassed a stake of more than 15 percent in the
microblogging phenomenon for himself and his investors at a cost of more
than $1 billion, according to three people with knowledge of his
investments.
While Rizvi was known to be an investor in Twitter, the extent of his involvement had not previously been reported.
Twitter made its IPO registration documents public late Thursday,
setting the stage for the most closely watched initial public offering
since Facebook’s in 2012. Rizvi Traverse is listed as one of the
institutional shareholders with at least a 5 percent ownership stake,
but no further details were disclosed.
The shares Rizvi purchased were distributed among investors via
multiple vehicles, sources said, and the size of his personal stake is
not known.
People with direct knowledge of his investment activities say that
Rizvi, backed by Chris Sacca, a former Google executive and Twitter
investor, was instrumental in attracting large private investors to the
microblogging site, serving as matchmaker between the company’s founders
and global financiers from Wall Street to Riyadh.
Rizvi declined to comment for this article. Sacca, a longtime friend,
gave him an entree into tech investing in 2011 – when Twitter was still
struggling to make money. From there, Rizvi scored stakes in some of
the most sought-after Internet startups, from Facebook Inc FB.O before it went public to Square and Flipboard....MORE