Twitter Names Jack Dorsey as Chief Executive

By October 5, 2015Blogposts, News

Twitter Co-founder Jack Dorsey has been confirmed as the permanent chief executive of Twitter.
He served as the interim boss of the company for three months after Dick Costolo stepped down on 1 July.
Mr Dorsey will remain the head of mobile payments company Square, but will step down as chairman of Twitter.
Mr Costolo, who was chief executive from 2010 to this year, had been under pressure from investors unhappy with the firm’s user growth.
Twitter had previously said the chief executive job would be a full-time position, which seemed to exclude Mr Dorsey as long as he continued to run Square.
But board member Peter Currie tweeted on Monday: “The board completed a comprehensive process to find the best leader for @twitter, and we were unanimous: @Jack.”
Mr Dorsey was appointed chief executive on 30 September, according to a US regulatory filing.
Twitter listed its shares on the New York Stock Exchange in 2013, but under Mr Costolo the social network had not been adding users as fast as investors had hoped.
In April, the firm missed Wall Street’s forecasts for revenue growth and reported a net loss of $162m.
Its share price has declined nearly 50% since then.
This will be Mr Dorsey’s second stint as Twitter chief executive, having held the position between May 2007 and October 2008.

About Jack Dorsey

Dorsey was born and raised in St. Louis, the son of Marcia (Smith) and Tim Dorsey. He is of part Italian descent. His father worked for a company that developed mass spectrometers and his mother was a homemaker. He was raised Catholic, and his uncle is a Catholic priest in Cincinnati. He went to Catholic high school, at Bishop DuBourg High School.
By age fourteen, Dorsey had become interested in dispatch routing. Some of the open source software he created in the area of dispatch logistics is still used by many taxi cab companies. Dorsey attended the Missouri University of Science and Technology before subsequently transferring to New York University, but he dropped out. He first came up with the idea that became Twitter at New York University. While working on dispatching as a programmer, he later moved to California.

Biz Stone and Dorsey accepting a Crunchie award for best mobile startup
In Oakland in 2000, Dorsey started his company to dispatch couriers, taxis, and emergency services from the Web. His other projects and ideas at this time included networks of medical devices and a “frictionless service market”.In July 2000, building on dispatching and inspired in part by LiveJournal and possibly by AOL Instant Messenger, he had the idea for a Web-based realtime status/short message communication service.
When he first saw implementations of instant messaging, Dorsey wondered whether the software’s user status output could be shared among friends easily. He approached Odeo, which at the time happened to be interested in text messaging. Dorsey and Biz Stone decided that SMS text suited the status message idea, and built a prototype of Twitter in about two weeks.[10] The idea attracted many users at Odeo and investment from Evan Williams who had left Google after selling Pyra Labs and Blogger.

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