Rizvi Traverse Management LLC halves stake in Twitter

Q.  Which company has halved its stake in Twitter Inc and increased its holding in Square Inc, as per regulatory filings in August 2016?
- Published on 16 Aug 16

a. Rizvi Traverse Management LLC
b. Zutshi Traverse Management LLC
c. Ali Traverse Management LLC
d. Rahman Traverse Management LLC

ANSWER: Rizvi Traverse Management LLC
 
Rizvi Traverse Management LLC managed by investor Suhail Rizvi has halved its stake in Twitter Inc and increased holding in mobile payments company Square Inc, regulatory filings have shown on 12th August 2016.
  • Rizi had amassed more than 15% stake in microblogging phenomenon for himself and his investors.
  • He also influenced the Kingdom Holding Co, Saudi Prince Alwaweed bin Talal’s investment company to purchase extra Twitter stock, according to a Reuters report.
  • Firm owned 1.4 million Twitter shares as of June 30 down from March 31, as per a filing.
  • This will provide a stake of 0.2 percent as per a estimate.
  • Firms stake in square rose to 1.05 million Class A shares from 44,000 working out to a stake of 0.3 percent.
  • Twitter and Square are headed by Jack Dorsey.

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