Twitter Is Bringing Back Co-founder, Stock Surges
Can Biz Stone save Twitter?
Biz Stone, who recently sold his image-search-engine company, Jelly, will return full-time to Twitter.
Stone announced the move in a post Tuesday on Medium. “I’m returning to full time work at Twitter starting in a couple of weeks,” he wrote.
Stone described his new position in somewhat vague terms:
My top focus will be to guide the company culture, that energy, that feeling. This is where Jack, and Twitter’s inestimable CMO, Leslie Berland, feel I can have the most powerful impact. It’s important that everyone understands the whole story of Twitter and each of our roles in that story. I’ll shape the experience internally so it’s also felt outside the company. More soon.
What this means: It’s not clear exactly what reshaping Twitter’s culture will entail, but there’s no doubt it’s in need of change. In the past year Twitter 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.
“Biz will do at Twitter what Biz does best: boost morale. In what capacity, I’m not sure,” a source close to the company told me. “His commitment to values like free speech will also be an asset to Twitter.” — via Vanity Fair.