This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Twitter's Pain is Square's Gain

NEW YORK ( TheStreet) -- Twitter co-founder Jack Dorsey announced that he doesn't spend much time at the company he co-founded along with Biz Stone and Evan Williams anymore, choosing to spend most of his time at Square.

On his Tumblr blog, Dorsey said that he only spends one day a week at Twitter; Tuesday afternoons. The rest of his time is devoted to Square, one of the leading mobile payments companies.

"There was a great profile in The New York Times about Twitter's CEO, Dick Costolo, which mentioned my work at the company. It's not a common arrangement, so I'd like to clarify a few points.

In Spring of 2011, Dick asked me to take an operational role overseeing product, design, and brand. Our shared goal was to get those organizations back under him as soon as possible, simply because it was the right thing to do for the company. We moved all of my reports back under him in January of this year after leadership was firmly in place. This allowed me to focus on refining our brand and logo, to work more with Dick and the leadership team on our direction forward, and ultimately return the majority of my time to Square, where I'm CEO. I'm back to going to Twitter on Tuesday afternoons, something I started before taking the interim operational role.

We haven't talked about this publicly because it's not what people using Twitter every day care about.

I'm fortunate in life to be a part of two foundational and mission-driven organizations, and I'm always going fight like hell to make them thrive. And they are! Now back to our work."

In its recent profile of Twitter CEO Dick Costolo, The New York Times reported that Dorsey's role at Twitter had been reduced "...after employees complained that he was difficult to work with and repeatedly changed his mind about product directions."

Twitter competes in the social networking space with Facebook (FB - Get Report), and Google +, owned by Google (GOOG).

Interested in more on Google? See TheStreet Ratings' report card for this stock.

-- Written by Chris Ciaccia in New York

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
FB $93.24 0.00%
AAPL $112.12 0.00%
GOOG $643.61 0.00%
TSLA $220.69 0.00%
YHOO $32.52 0.00%


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs