SAN FRANCISCO — Twitter co-founder Biz Stone said Tuesday that 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 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 percent higher to end the trading session Tuesday at $19.49 per share.
Stone worked at Twitter for about six years before leaving the San Francisco company in 2011 to start blogging site Medium with Evan Williams, another Twitter co-founder.
He then went on to found Jelly, a search engine that lets users ask questions and crowdsource answers.
In March, visual bookmarking site Pinterest said that it was acquiring Jelly for an undisclosed amount. Stone then joined Pinterest as a special adviser to co-founder and Chief Product Officer Evan Sharp. He will also remain in that role, a Pinterest spokesperson confirmed.
Dorsey said in a tweet Tuesday that he was “excited to have Biz’s energy and heart back at Twitter!”
And for Stone, the feeling of excitement was mutual.
“Twitter has woven itself into the fabric of our global society. The world needs Twitter, and it’s here to stay,” Stone wrote. “I’m so lucky that I get to step back in and help shape its future.”
Twitter co-founder Biz Stone returns to ‘guide company culture’ – The Mercury News