Twitter co-founder Biz Stone returning to company to help 'guide culture'
17 May, 2017, 06:28
The entrepreneur, who co-founded Twitter with Jack Dorsey and Evan Williams, is returning to the company to help guide its corporate culture, he writes in a blog post published Tuesday morning.
The co-founder's return to the company comes as Twitter begins to make strides in changing the narrative that it is failing company.
Stone said that he also had plans to take another job offer after leaving his part-time position at Pinterest.
Stone is returning to a very different Twitter than the company he left - one that has seen an exodus of top staffers amid the loss of a key National Football League streaming deal and quashed prospects of a sale of the company.
Biz's decision to return was surprising, even to him.
Mr. Dorsey assured investors that Twitter could deliver positive revenue growth over the long term although the company faced revenue headwind during the period.
Mr. Stone made it clear that he is "not replacing anyone" at Twitter.
It's important that everyone understands the whole story of Twitter and each of our roles in that story. "Somebody mentioned I'm just filling the "Biz shaped hole" I left", Stone wrote on Medium. His startup, Jelly, was acquired by Pinterest in March. In the past year alone, the San Francisco-based company lost multiple key executives; laid off 9 percent of its workforce; shuttered Vine; saw its stock price plummet; and tried and failed to sell itself. He was invited back to Twitter by CEO Jack Dorsey, another co-founder, who returned in 2015 after also stepping away for years. For those not keeping track, Twitter went public at a $24 billion valuation, or $26 a share, on November 7, 2013.
"My excitement at the chance to work on Twitter again with Jack, Leslie and the entire team around the world is over-the-moon".
The Twitter offer could actually have been sprung upon Stone.