Posted by Yesterday, Jack Dorsey announced his resignation from Twitter.
This is the second time he’s left. After leaving the social media giant that he co-founded the first time, he setup the digital payments company Square in 2009 – which has become wildly successful.
He came back to Twitter in 2015.
Until Monday he was running both companies – a situation that didn’t sit well with many investors.
Last year Elliott Management, a large Twitter investor, tried to make him choose between the two.
They prayed for a chief executive that spent their time on Twitter and Twitter alone.And certainly a chief executive that had its undivided focus on Twitter might help.
When you compare Twitter to Google or Facebook, it’s a relative minnow.
Dorsey has been seen by some as the reason for Twitter’s stunted growth.
But to be fair, Dorsey he has tried to experiment with ways to generate more revenue for the microblogging platform.
He also announced a target of 315 million monetizable users by the end of 2023 – and to double revenue in that year.
The incoming chief executive, Parag Agrawal, is an Indian born, Agrawal who rose though the ranks to become an apparently competent and well-respected chief technology officer.
He’s been described as a safe pair of hands, and he has a huge job ahead of him.Although Twitter is not Facebook.
it holds far less information about you, and therefore the data it holds isn’t as valuable to advertisers.
You can also only serve users so many adverts before they start turning away. If your goal is high growth but also revenue increase – that can be a difficult balancing act.