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Posts Tagged ‘@dickc’

Twitter Stock Rallies on CEO Resignation Rumor

Twitter Stock Rallies on CEO Resignation Rumor

Twitter shares closed up almost four percent yesterday after rumours began to circulate that Dick Costolo, the company’s chief executive, might be stepping down.

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Jack Dorsey Returns To Twitter As Executive Chairman

Last week we speculated about the return of Twitter co-founder Jack Dorsey to the network in a greater role, since he stepped down as CEO five months ago.

Today those rumours have been confirmed with Twitter CEO Dick Costolo and Dorsey himself announcing his position as Executive Chairman of Twitter.

Dorsey will continue as CEO of his other startup, Square – which according to a spokeswoman at Square remains Dorsey’s “top priority” – but Jack will now begin overseeing product at Twitter within this new role.

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Twitter Has A New CEO (Somebody Tell @Ev To Update His Bio)

Read all about it at the official Twitter blog.

The challenges of growing an organization so quickly are numerous. Growing big is not success, in itself. Success to us means meeting our potential as a profitable company that can retain its culture and user focus while having a positive impact on the world. This is no small task. I frequently reflect on the type of focus that is required from everyone at Twitter to get us there.

This led to a realization as we launched the new Twitter. I am most satisfied while pushing product direction. Building things is my passion, and I’ve never been more excited or optimistic about what we have to build.

This is why I have decided to ask our COO, Dick Costolo, to become Twitter’s CEO. Starting today, I’ll be completely focused on product strategy.

The post is written by former CEO Evan Williams (@ev). Unfortunately, neither Evan nor Dick (@dickc) appear to be very good at using Twitter themselves, at least in a real-time sense, as both are still showing their previous titles in their Twitter bios.

In your own time boys.

Twitter On Future Profitability: "We're Thinking About Big, Big Numbers."

Twitter Chief Operating Officer Dick Costolo (@dickc) has been outlining Twitter’s plans for its new advertising system and addressing concerns about the company’s long-term monetization goals.

“We were valued at over a billion dollars last September, so we’re going to live in a world where we need to be generating hundreds of millions of dollars in revenue,” Costolo told Reuters. “We’re thinking about big, big numbers.”

Other points of interest:

  • Twitter is currently adding another dozen advertisers to their Promoted Tweets platform, which Costolo says has been “successful beyond our wildest dreams.”
  • Costolo says Twitter will start to “ramp this up aggressively” beginning in the third quarter of 2010
  • The long-hyped premium Twitter accounts are due this July or August

Costolo: “I’m super confident but it’s a dark tunnel and we’ll see where we are at the end of Q4.”

(Source: Reuters.)