![]() ![]() A fourth round worth $45 million in May 2007 brought the total private financing investment to over $105 million. Musk co-led the third, $40 million round in May 2006 which saw investment from prominent entrepreneurs including Google co-founders Sergey Brin and Larry Page, and former eBay President Jeff Skoll. In February 2006, Musk led Tesla's Series B venture capital funding round of $13 million, which added Valor Equity Partners to the funding team. The company's strategy was to start with a premium sports car aimed at early adopters and then move into more mainstream vehicles, including sedans and affordable compacts. Musk took an active role within the company and oversaw Roadster product design at a detailed level, but was not deeply involved in day-to-day business operations. Main article: Tesla Roadster (first generation) Ī lawsuit settlement agreed to by Eberhard and Tesla in September 2009 allows all five – Eberhard, Tarpenning, Wright, Musk, and Straubel – to call themselves co-founders. Straubel joined Tesla in May 2004 as chief technical officer. Musk became the chairman of the board of directors and the largest shareholder of Tesla. In February 2004, the company raised $7.5 million in series A funding, including $6.5 million from Elon Musk, who had received $100 million from the sale of his interest in PayPal two years earlier. Ian Wright was Tesla's third employee, joining a few months later. Eberhard said he wanted to build "a car manufacturer that is also a technology company", with its core technologies as "the battery, the computer software, and the proprietary motor". Eberhard and Tarpenning served as CEO and CFO, respectively. on July 1, 2003, by Martin Eberhard and Marc Tarpenning. The company was incorporated as Tesla Motors, Inc. The insignia of Tesla Motors as seen on a Tesla Roadster Sport, c.
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