New Me­dia Mogul: Novem­ber 5, 2012

Forbes - - Fact & Comment -

At 35, Jack Dorsey was run­ning two of the hottest star­tups in Amer­ica: Twit­ter and Square. In less than three years, Twit­ter had gone from 30 mil­lion monthly ac­tive users world­wide to 167 mil­lion, cre­at­ing cit­i­zen jour­nal­ists of a sort who filed more than 400 mil­lion tweets a day. Its rev­enue would top $300 mil­lion in 2012. Square, mean­while, would end the year with $203 mil­lion in rev­enue and would more than dou­ble that the next. Ris­ing val­u­a­tions for the two com­pa­nies gave Dorsey a $1.1 bil­lion for­tune, enough for him to make The Forbes 400 for the first time.

He al­ready had his eye on some­thing big­ger, though. “I don’t think there has been any re­cent revo­lu­tion of our gov­ern­ment or how we think about run­ning govern­ments,” he told us. “I would love to see tech­nol­ogy help with that.”

Dorsey prob­a­bly couldn’t have imag­ined just how dra­mat­i­cally Twit­ter would end up chang­ing the tenor of Amer­i­can gov­ern­ment. Twit­ter is the pres­i­dent’s pre­ferred com­mu­ni­ca­tion method, of course, and has be­come one of the world’s most pow­er­ful means of dis­tribut­ing in­for­ma­tion. Square is less talked about, but more suc­cess­ful fi­nan­cially: Although Twit­ter’s rev­enue fell in 2017, Square’s con­tin­ues to rise, in­creas­ing 30% last year to $2.2 bil­lion. Dorsey is now worth $6.3 bil­lion.


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