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Twitter Co-Founder Biz Stone Is Returning to the Company (techcrunch.com)
After leaving Twitter in 2011 to pursue new projects, Twitter co-founder Biz Stone has announced that he's returning to the company to "guide company culture." Stone said in a statement: "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." TechCrunch reports: About a month ago Stone sold his most recent startup, Jelly, to Pinterest. He said at the time that he wasn't required to stay on with Pinterest, so was available for new opportunities. Stone said he was recently back at Twitter as a "special guest" for an event open to employees, where current CEO and fellow co-founder Jack Dorsey -- another founder who left and then returned -- asked him onstage if he wanted to come back and work at Twitter. After some employee cheers, and a private clarification that Jack was in fact being serious, he accepted. Twitter diehards are reacting positively to the news -- many think that Twitter needs to get back to its roots, and what better way to do it than bringing back a co-founder? The market also seems to be happy. TWTR stock immediately jumped 2 percent on the news, reaching a three-month high of $19.62.
To Twitter that's a big deal :-) The company is on a death spiral so any hint of life is probably a good thing to the SJW die-hards that still use the thing.
Wrong. They do make money, just not a lot compared to their market cap. They have a revenue of about $2.5 billions per year and profit of about $100 millions.
It's tiny compared to the other tech companies, but it's still roughly $3.1 billlions more profit than Uber, or $600 millions more than Snapchat.
Also now that they gave up on being a "share your feelings" platform and want to focus more on news delivery, and with the various new services they plan on adding (like premium services to let people monitor their brand), they're likely to become profitable over time.
lucm, indeed.