Twitter get a new head honcho

Evan William's, Twitter co-founder and CEO is stepping down to let his second in command, Chief Operating Office Dick Costolo replace him at the top. William's is planning to focus on product strategy.

Williams has managed the privately run San Francisco company for the last two years but wants to focus on building a new product strategy. He said in a blog post on the company website “Building things is my passion”. Twitter is one of the modern day online success stories, growing from a fledging company into one worth between $1 and $2.5 billion. Over 160 million people use Twitter but the problem has always been that they are looking ways to maximise this huge audience into earning money.

Costolo was an early investor in Twitter and a former advertising product manager at Google, he joined the Twitter ranks to help expand the business and to forge search partnerships with Yahoo, Microsoft and Google.

Twitter is now the worlds third largest social networking site behind Windows Live Profile and Facebook, according to ComScore – with over 96 million unique users in August, up 76 percent from a year previous.

KitGuru says: Dick Costolo is the third CEO for Twitter and it is clear that Williams has a lot of faith in how they company can grow with another man at the helm.

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