Twitter co-founder returns to take lead
Jack Dorsey, Twitter’s co-founder, is returning to the company in a full-time position, which sees him take over product development from fellow co-founder Evan Williams.
For the last two years, Dorsey has played a small role at the company he co-created five years ago, holding the title of chairman.
However, late last night Dorsey tweeted: “Today I'm thrilled to get back to work at @Twitter leading product as Executive Chairman.”
The move is the latest in several management shake-ups at the microblogging company, which has a valuation of $3.7 billion and celebrated its fifth birthday earlier this month.
Last year Williams stood down as chief executive to take the lead on the site’s product development. Dick Costolo, the company’s former chief operating officer, took over as chief executive with immediate effect.
Williams is now understood to have relinquished his role as head of product development and will no longer have daily involvement with Twitter as a business, but will remain on the board of the company he helped to drive and create.
He has been credited with creating and rolling out the most recent and major redesign of Twitter at the end of last year.
A Twitter spokesman said: “As executive chairman, Jack [Dorsey] will dive into work with more than 450 people, led by an experienced executive team.
"The timing is fortuitous; not only is Twitter experiencing record growth, but we also now have a new infrastructure that will keep us ahead of that growth and enable us to launch products that will make Twitter more instant, simple and always present.”
Costolo tweeted the news yesterday saying that he was “excited” by Dorsey’s return to the company.
Dorsey will also remain chief executive of Square, his mobile payments tool, while working at Twitter.
Twitter has over 200 million registered accounts and is concentrating on monetising the service, while defining its purpose.
Last year, Dorsey told The Telegraph that it was difficult to try and define Twitter’s function and purpose, as so many of its uses had been defined by its users over the past four years. “It is hard to speak about Twitter’s vision without factoring in how much of its purpose has been defined by its users over the years. Users came up with so many parts of the service, such as the ‘hashtag’ [which allows people to link to a subject or an event] as so many people use it in so many different ways.
“Twitter needs to continue being a good listener and recognise that the service has been redefined by lots of people, tweet by tweet, but also come up with its own priorities,” he said.