Economy

Twitter co-founder Biz Stone returns to company, shares spike

Twitter co-founder Biz Stone returns to company, shares spike

But it never got off the ground, even after a pivot to meme-making app Super and a now infamous "un-pivot" back to Jelly.

Twitter cofounder Biz Stone is rejoining the company in a role helping to "guide the company culture".

It's not clear exactly what reshaping Twitter's culture will entail, but there's no doubt it's in need of change. "After Tea Time, we spoke privately and Jack told me that he really did?-?he wanted me to come back and work at Twitter".

Dorsey asked him to return and Stone accepted.

Mr. Dorsey assured investors that Twitter could deliver positive revenue growth over the long term although the company faced revenue headwind during the period. He remains a member of its board.

His return is a dose of good news for Twitter amid a rough stretch of executive departures and sub-par growth.

Jack Dorsey, CEO of Square and CEO of Twitter, speaks during an interview with CNBC following the IPO for Square Inc, on the floor of the New York Stock Exchange, November 19, 2015. "I'll shape the experience internally so it's also felt outside the company", Stone said, promising to reveal "more soon". "Somebody mentioned I'm just filling the "Biz shaped hole" I left", Stone explained.

Obviously a lot has happened since Stone left the company five years ago.

Biz will not be replacing anyone at the company. For those not keeping track, Twitter went public at a $24 billion valuation, or $26 a share, on November 7, 2013.

While Twitter's influence has grown alongside that of active user Donald Trump, it has failed to make a large dent in the revenues of dominant advertising platforms like Facebook and Google.

"The world needs Twitter, and it's here to stay", Stone wrote. "Jack coming back was a big step forward", Stone wrote.