Friday, September 16, 2011

Twitter's board loses two early investors


"Two of Twitter's earliest investors have left the company's board of directors, the latest change to the fast-growing social media company's leadership.
Fred Wilson of Union Square Ventures and Bijan Sabet of Spark Capital are no longer on Twitter's board, the company said on Friday.
It was not immediately clear what prompted the change.
Twitter does not plan to appoint new directors to replace Wilson and Sabet, a source familiar with the matter said.
Wilson and Sabet did not return emails seeking comment.
The departures mark the latest change to Twitter, whose microblogging service allows users to broadcast short, 140-character messages, or "tweets," to groups of "followers."
In October, Dick Costolo replaced co-founder Evan Williams as chief executive. Earlier this year Costolo brought Jack Dorsey, another co-founder, back to the company as executive chairman.
Williams and Twitter co-founder Biz Stone have recently started a new project called Obvious Corp.
Twitter, which has more than 100 million active users, has been increasingly focused on building a revenue-generating advertising business on top of its Web service.
The company is broadening the areas of its service where ads will appear, Costolo said during a briefing with reporters and analysts at the company's San Francisco headquarters last week.
During the meeting, Costolo repeatedly cited Wilson in examples and anecdotes about the various uses for Twitter, at one point using the example of Wilson's son and his proclivity for following NBA players on Twitter without actually contributing any tweets himself.
Twitter, which raised $400 million in a new round of funding earlier this year, credited Wilson and Sabet on Friday with playing important roles in the company's success. (...)"

10 comments:

This Guy said...

Wow, that is some big news for twitter. They will be fine though, until the next big thing with a catchy name comes along.

September 16, 2011 at 9:03 PM
Sub-Radar-Mike said...

I wonder who is going to replace them...

September 16, 2011 at 9:12 PM
Timon said...

great blog :)

September 16, 2011 at 9:54 PM
Choms1337 said...

OO yeah.. I hope twitter will be bigger :P great blog :) follow :)

September 16, 2011 at 10:07 PM
Bones said...

I hate Twitter so much.

September 16, 2011 at 10:24 PM
The Lunatic Pope said...

I'm all for twitter, as a creator, it's a useful tool.
however, i do see how normal people abuse it.

September 16, 2011 at 11:22 PM
George Anderson said...

Interesting read. Thanks for the news.

September 16, 2011 at 11:51 PM
My 2 Pesos said...

That's good because I hate it. :D

mis2pesos.blogspot.com
twitter.com/#!/my2pesos

September 17, 2011 at 3:23 AM
frankcom said...

haha I love twitter, but I'm surprised they dropped out! maybe they found something better coming along?

September 17, 2011 at 4:38 PM
Shummus said...

i love twitter now, the next big thing if you ask me! great blog btw, covers alot. I was just drawn to the tecchnology part ;) + Followed

September 19, 2011 at 6:04 PM

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