Jack Dorsey is an American businessman known as the founder of the social network Twitter. Dorsey is co-founder and executive director of Twitter, the company behind the social networking service where users post tweets.
The San Francisco-based company has more than 300 million monthly users and reported revenues of $ 2.4 billion in 2017. Dorsey is also CEO of Square, a mobile payments company. Jack Dorsey’s net worth is $ 4.80 B as of May 2019.
Early life
The inventor of Twitter, Dorsey was born on November 19, 1976, in St. Louis, Missouri. He grew up in St. Louis, Dorsey became interested in computers and communications from an early age and began programming while a student at the University.
In Bishop DuBourg high school, Dorsey was fascinated by the technological problems of coordinating delivery vans, taxi drivers, and other fleets of vehicles that needed to remain in constant communication and in real time with each other.
When he was 15 years old, Dorsey wrote office software that is still used by some taxi companies.
Creation and Success of Twitter
After a brief stint at Missouri University of Science and Technology, Dorsey moved to New York University. In the tradition of computer entrepreneurs, such as Bill Gates, Steve Jobs and Mark Zuckerberg, he dropped out of college before earning his degree.
Dorsey relocated to Oakland, California, and in 2000 he started a company that offers he Web-based dispatch software. Shortly after starting his business, Dorsey had the idea of a site that combined the broad scope of dispatch software with the ease of instant messaging.
Some initially ridiculed twitter as a tool for shallow and self-centered people to convey the details of their lives to the universe. The night comedy host, Conan O’Brien, even introduced a segment called “Twitter Tracker” that mocked service users.
In twitter early days, the site also suffered frequent service outages. But when celebrities and CEOs started tweeting, Twitter was no longer the worst part of so many jokes. Swiftly, the head of the “microblogging” movement, Twitter became a powerful platform for the US presidential candidates.
Former President Barack Obama and John McCain in 2008, as a method to update their supporters during the campaign.
Multimillionaire businessman
Dorsey, however, had noticed other projects. He became a pro-investor in the social networking company Foursquare and launched a new company, Square, which allows people to receive payments by credit card through a small device connected to their mobile phone or computer.
It’s possible that Twitter has already revolutionized the way people communicate, but Dorsey is not over yet. Dorsey said “In terms of technology, we’re going to see a better and more immediate experience around the everyday things we do in life,”
In November 2013, Jack Dorsey saw his fortune grow enormously, thanks to the early public offering of Twitter. The company’s stock had a stock start price of $ 26, but the price quickly rose to $ 45 during its first day of trading.
In a few hours, the value of approximately 23.4 million shares of Dorsey made him a multimillionaire. He has already started discussing the possibility of an IPO for his other company, Square, in 2014.
In 2015, Dorsey returned to Twitter. He first served as interim CEO and then became its CEO. Afterward, he officially took the company’s top spot; he announced that the company would reduce approximately 8% of its workforce.
This move is “part of a general plan to organize around the company’s top product priorities and drive efficiency throughout the company,” according to a securities report published by Twitter in the Los Angeles Times.
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