U.S. markets closed
  • S&P 500

    -54.85 (-1.51%)
  • Dow 30

    -500.10 (-1.71%)
  • Nasdaq

    -161.89 (-1.51%)
  • Russell 2000

    -10.21 (-0.61%)
  • Crude Oil

    -1.49 (-1.83%)
  • Gold

    -0.30 (-0.02%)
  • Silver

    +0.30 (+1.62%)

    -0.0018 (-0.19%)
  • 10-Yr Bond

    +0.0570 (+1.52%)

    +0.0043 (+0.38%)

    +0.2770 (+0.19%)

    -236.46 (-1.21%)
  • CMC Crypto 200

    +0.06 (+0.01%)
  • FTSE 100

    +12.22 (+0.18%)
  • Nikkei 225

    -484.84 (-1.83%)

Early Twitter investor Chris Sacca says he ‘hates’ the stock, calls bot issue ‘embarrassing’

Early Twitter investor Chris Sacca says he ‘hates’ the stock, calls bot issue ‘embarrassing’

Billionaire Chris Sacca, one of the earliest investors in Twitter (TWTR), said he hates the company's stock and the continued issue with having "bots" or automated accounts on the platform is "embarrassing".

The "Shark Tank" star was responding to questions from some of his 1.8 million Twitter followers on Tuesday evening. He said that he hadn't owned Twitter shares for a couple of years, but when they failed to bring back Evan Williams, co-founder of the social media platform, he "lost hope".

"Love the service, hate the stock," Sacca tweeted.

In a follow-up tweet, Sacca clarified that his fund sold "most" of its shares in Twitter after Jack Dorsey returned as CEO in 2015, and he personally sold his stake last fall. Twitter's share price is down nearly 7 percent in the last 12 months.

Twitter declined to comment on the story when contacted by CNBC.

The investor, who founded venture capital firm Lowercase Capital, and is also an investor in Uber, has expressed his disillusionment with the company over the past few months. Sacca told CNBC in an interview last year that Twitter could benefit from being acquired.

"I would love to see them in a partnership or an acquisition position with a company, just so they would get a little more product vision, maybe freedom to experiment and take some risk, because we just haven't seen that out of this team," Sacca told CNBC.

Several bidders including Salesforce (CRM) and Google (GOOGL) were both reportedly in the running to buy out Twitter before talks fell apart.

Sacca also took aim at one of the biggest issues facing Twitter – the number of so-called "bots" or automated robot accounts on the platform. According to research from the University of Southern California and Indiana University, up to 15 percent of Twitter accounts are bots rather than people. Of Twitter's 319 million monthly active users, that translates to nearly 48 million bot accounts.

Tackling the bot "epidemic" would hurt Twitter in the short term because it would hit user numbers, but would be beneficial in the long-run, according to Sacca.

Sacca offered a word of advice to Twitter and said that the platform should be opened up to developers again to hopefully come up with new innovations.

Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank."

More From CNBC