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Spark originally invested in Twitter back in 2008 and just invested in Foursquare
Spark Capital announced Thursday that its newest strategic advisor is to be Biz Stone, best known as co-founder of Twitter.
Stone has been keeping very busy lately, as he along with fellow Twitter executives Jason Goldman and Evan Williams (pictured at right, in that order) just relaunched The Obvious Corporation to develop products that “improve the world.” Though it originally incubated Twitter, the new version of Obvious seems more steered toward philanthropic endeavors, where Stone has spent much of his energy lately.
Though Spark Capital was one of the earliest investors in Twitter, there’s no telling whether the firm will fund Obvious projects.
Before moving onto Twitter, Stone had a hand in the creation of several well-known Web services, including Blogger, Odeo and Xanga. He last served as creative director at Twitter.
At Spark, the Twitter guru will provide insight into both new investment opportunities as well as current portfolio companies. The Boston-based venture firm has been highly active as of late, re-investing in portfolio companies like Boxee and Adap.tv, leading a new round in tablet publishing company OnSwipe and even participating in Foursquare’s hefty $50 million round last month.
On the Twitter side of things, the microblogging company is reportedly seeking a new round of funding with a $7 billion valuation, nearly double the $3.7 valuation placed by Kleiner Perkins Caufield & Byers just half a year ago.
Stone isn’t the only Twitter creator spreading his influence in multiple directions. Jack Dorsey recently returned to head product at the company, even while he serves as CEO at Square, provider of the app/accessory combo for accepting credit cards on smartphones.
Here’s the note Bijan Sabet, Spark Capital general partner and Twitter board member, posted on his blog:
I first met Biz in 2007, shortly after I first signed up as a Twitter user.
About a year later I joined the board of his company when we made our initial investment in Twitter. There were something like 15 employees at the time.
Since that first meeting, I have routinely been blown away by Biz’s creative instincts and understanding of the social web. His tireless efforts to tell the story and promise of Twitter has been inspirational. I have learned much from his obsession with company culture and importance of mission for a young company. And his instincts about brand and community are simply extraordinary.
My partners and I have also been impressed with Biz’s efforts outside of the world of startups, specifically his philanthropic efforts and the work of his foundation. And like you, we are looking forward to the rebirth of Obvious Corporation.
Today, we are thrilled to announce that Biz is going to assist our firm, Spark Capital, as strategic Advisor. In this role, Biz will help us think through and evaluate new investment opportunities. Additionally he will provide us with valuable insight about our current portfolio companies as well.
I could not be any happier about this and I’m delighted to share it now with all of you.
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