Twitter shares were under a small amount of pressure today, after co-founder Ev Williams’ announcement regarding his plans to sell 30% of his stake in the social media platform. According to The Motley Fool, Mr. Williams justified his decision through a post on Medium, the blogging site he started after leaving Twitter, in order to eliminate any negative speculation.
Positive when it comes to Twitter’s future
To be more specific, he revealed that most of his assets are Twitter shares, mentioning that he remains optimistic about the company’s future, encouraged by the recent changes made by the platform, in an attempt to remove harassment and abuse on the service, this being one of Twitter’s biggest challenges.
Ev Williams is still a part of Twitter’s board and he hasn’t sold any shares for the past 18 months. Still, he recently filed a new 10b5-1 plan, aiming to sell 5% of his stake. And it was successful, because earlier this week, he sold around 273,000 shares, with a total value of over $4million.
In the above mentioned blog post, the Twitter director wanted to make it clear that this decision to unload is a personal one.
“It actually pains me to be selling at this point, but this sale is all about personal context, not company context.”
Exploring new opportunities?
Also, he revealed that he’s planning to use the proceeds for investing in other ways, in order to “help build a smarter, more sustainable world.” Basically, a bit of diversity is everything he’s looking for, an aspect which any investor appreciates.
Unlike most founder, who maintain their position in a company throughout the years, doing their best to keep growing the company, Ev Williams’ path was a bit different. A few years ago, he was driven out from Twitter’s operations, after an argument with Jack Dorsey, the social media platform’s other co-founder.
