Andreessen Horowitz (A16z) said that it will offer $400 million in financial backing to enable Elon Musk to acquire Twitter.
The leading venture capital company Andreessen Horowitz has said that it will invest the money to back the Twitter takeover aiming to fight spam bots and censorship abuse.
This announcement was made on May 5 on Twitter by the co-founder of the leading VC, Benjamin Horowitz, who said that the firm is backing Elon Musk’s Twitter acquisition bid since it is confident about the vision of the social media company’s founders, Jack Dorsey, and many others.
1/First some news, we are joining Elon Musk’s bid for Twitter and investing $400MM into the company.
— benahorowitz.eth (@bhorowitz) May 5, 2022
Based on the statement by Horowitz, Musk’s acquisition of Twitter will eventually enable the social media firm to reach its full potential and what it was meant to be.
Horowitz said that even though Twitter has a promising future, the platform has encountered many challenges, including continuous abuse of censorship and annoying bots.
Buy Crypto NowTwitter is a public company that only amplifies these issues because it is majorly reliant on its advertising model. Horowitz commented:
“Elon is the one person we know and perhaps the only person in the world who has the courage, brilliance, and skills to fix all of these and build the public square that we all hoped for and deserve.”
