Twitter shakes up its board of directors: Wilson and Sabet depart

Two more people tied to the early success of microblogging site Twitter are parting ways with the company.

Early investors Fred Wilson of Union Square Ventures and Bijan Sabet of Spark Capital will leave Twitter’s board of directors by the end of September, the company confirmed today in a statement:

“Bijan Sabet and Fred Wilson both played important and greatly appreciated roles in our success. Both saw what Twitter could become before most anyone else. We look forward to their continued input as both investors in the company and passionate users of the product.”

According to a report from All Things D, both funds sold a portion of their Twitter holdings via secondary market sales, but both will also continue to hold a majority of their stake in the company.

As VentureBeat reported earlier this week, tech entrepreneur and Digg founder Kevin Rose also cashed out 20 percent of his total investment in Twitter.

Twitter is valued at $8.4 billion after its most recent $400 million round of funding, which was intended to cash out some of the early investors.


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