View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
October 4, 2010

Twitter CEO steps aside

COO Costolo takes over as company looks to drive revenue

By Steve Evans

Twitter co-founder Ev Williams has stepped down as CEO of the social networking phenomenon to concentrate on product strategy. COO Dick Costolo will replace Williams.

Costolo has only been with the firm for about a year and was initially hired to help devise and execute a revenue model. Although Twitter is currently the hottest social network around the company is aware that it has to turn that popularity into profit.

"The challenges of growing an organization so quickly are numerous. Growing big is not success, in itself," Williams wrote on the company’s blog. "Success to us means meeting our potential as a profitable company that can retain its culture and user focus while having a positive impact on the world."

Claiming that he is, "most satisfied while pushing product direction," Williams said that Costolo is the right man to drive revenue at Twitter. "When I insisted on bringing Dick into the COO role a year ago, I got a lot of questions from my board. But I knew Dick would be a strong complement to me, and this has proven to be the case. During his year at Twitter, he has been a critical leader in devising and executing our revenue efforts."

The new business model includes deals with Google, Microsoft Bing and Yahoo to show tweets in search results, and promoted tweets, which enable companies to pay to appear in related search results.

Costolo founded Feedburner, which was acquired by Google in 2007. He became an investor in Twitter in 2007, which gained him a place on its board.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Williams founded Twitter with Jack Dorsey and Biz Stone in 2006. Since then it has grown to over 165 million registered users posting 90 million tweets per day. It now employs around 300 people. Williams took over the CEO role from Dorsey in 2008.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU