Twit­ter co-founder re­turns to guide cul­ture

The Hamilton Spectator - - BUSINESS - QUEENIE WONG

SAN FRAN­CISCO — Twit­ter co-founder Biz Stone says he’s re­turn­ing to the tech firm to guide the com­pany’s cul­ture, a move that could help bol­ster morale among em­ploy­ees.

In a blog post pub­lished Tues­day on Medium, Stone said he’s not re­plac­ing any em­ployee at Twit­ter, but he’ll play a role in help­ing the com­pany move for­ward.

“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,” he wrote.

Stone’s re­turn to Twit­ter comes as the tech firm is strug­gling to at­tract ad dol­lars. In April, the so­cial me­dia com­pany re­ported its first rev­enue de­cline since it went pub­lic in 2013.

But Twit­ter also re­ported first-quar­ter earn­ings and rev­enue that beat Wall Street’s ex­pec­ta­tions. The com­pany has faced of string of ex­ec­u­tive de­par­tures since Twit­ter co-founder Jack Dorsey re­turned in 2015 to lead the tech firm as its CEO.

“It sounds like some­thing that could be pos­i­tive from a morale per­spec­tive or a van­tage point of cul­ture,” said Brian Wieser, an an­a­lyst with Piv­otal Re­search Group. “It’s noth­ing more tan­gi­ble than that. It’s not like it says any­thing about the busi­ness chang­ing tra­jec­tory.”

In­vestors, though, were pleased with the news. The com­pany’s stock jumped about 1.4 per cent higher to end the trad­ing ses­sion Tues­day at $19.49 per share.

Stone worked at Twit­ter for about six years be­fore leav­ing in 2011.

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