Billionaire Chris Sacca, one of the earliest investors in Twitter, said he hates the company’s stock and the continued issue with having “bots” or automated accounts on the platform is “embarrassing”.
The “Shark Tank” star was responding to questions from some of his 1.8 million Twitter followers on Tuesday evening. He said that he hadn’t owned Twitter shares for a couple of years, but when they failed to bring back Evan Williams, co-founder of the social media platform, he “lost hope”.
“Love the service, hate the stock,” Sacca tweeted.
In a follow-up tweet, Sacca clarified that his fund sold “most” of its shares in Twitter after Jack Dorsey returned as CEO in 2015, and he personally sold his stake last fall. Twitter’s share price is down nearly 7 percent in the last 12 months.
Twitter declined to comment on the story when contacted by CNBC.
The investor, who founded venture capital firm Lowercase Capital, and is also an investor in Uber, has expressed his disillusionment with the company over the past few months. Sacca told CNBC in an interview last year that Twitter could benefit from being acquired.
“I would love to see them in a partnership or an acquisition position with a company, just so they would get a little more product vision, maybe freedom to experiment and take some risk, because we just haven’t seen that out of this team,” Sacca told CNBC.
