Sources: some Twitter investors were told Elon Musk would step down after three to six months and are divided on his decisions; a new CEO would report to Musk (Dan Primack/Axios)

Dan Primack / Axios:
Sources: some Twitter investors were told Elon Musk would step down after three to six months and are divided on his decisions; a new CEO would report to Musk  —  Twitter’s investors have divided into two camps: copacetic and apoplectic. … But investors were told that a transition …

Dan Primack / Axios:
Source: a holding company created by merging PrismHR and Vensure acquires HR startup Namely, which raised $200M+ from Sequoia and others  —  Three providers of human resources software and services have become one, Axios has learned. … – Both PrismHR and VES are backed by private equity firm Stone Point Capital.

Dan Primack / Axios:
Sequoia tells investors it is marking down its FTX investment, totaling $213.5M across two funds, to zero dollars, saying it “ran a rigorous diligence process”  —  – Its $150 million of exposure to both FTX and FTX.US in its third global growth fund represents less than 3% of that fund’s total capital commitment.

Dan Primack / Axios:
Instacart is pulling its plans to go public in 2022; the company confidentially filed for an IPO earlier this year  —  Grocery delivery app Instacart has decided to push its highly anticipated IPO into 2023, believing the current stock market is too volatile, as first reported by The New York Times and confirmed by Axios.

Dan Primack / Axios:
Sources: Google Ventures has shelved its algorithm that for years had served as a gatekeeper for new investments  —  Google Ventures has mothballed an algorithm that for years had served as a gatekeeper for new investments, Axios has learned from multiple sources.

Dan Primack / Axios:
Source: Tiger Global seeks to raise $6B for its next fund that invests in privately held tech companies, less than half of what it raised for its prior fund  —  Tiger Global is seeking to raise $6 billion for its next fund that invests in privately-held tech companies, according to an investor letter viewed by Axios.