Facebook in latest weeks has approached a handful of small venture capital firms to talk over becoming an investor in their own funds, according to people accustomed with the matter. The VC strategy, which also includes take investments in startups, aims to be able to give the social network first, valuable insight into a wider swath of companies.
In order to the new using initiative, Facebook recently appointed Sunita Parasuraman, a nine-year veteran regarding the company who previously leaped the treasury for its embattled Libra cryptocurrency project. Former Kleiner Perkins general partner Eric Feng, now a Facebook employee, happens to be helping approach funds, sources claim. The moves come as Tagged fends off antitrust scrutiny from its acquisitions and attempts in order to find new ways to table growing competitive threats like TikTok.
Source: theinformation. com
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