While Dick Costolo can’t be given all the credit for the success Twitter has seen since his arrival, he definitely has had a positive impact. He recently was named the new CEO so that previous CEO, Evan Williams, can devote more time on product strategy. Founded in 2006 Twitter is the fastest growing social network in the world and the third largest behind Facebook and Windows Live Profile.
Costolo has been with Twitter since September 2009. Some of the successful deals he gained for the company were the introduction of advertising services and licensing deals with Microsoft Corporation, Google, Inc., and Yahoo!, Inc. Twitter recently introduced a new version which will make it easier for users to load and share pictures, videos, and maps on the main viewing page.
Costello will be hard at work trying to find bigger and better ways for the company to make revenue. Augie Ray, a Forrester Research Inc. analyst, said: “The biggest challenge for Dick is going to be to balance the increasing expectations and needs for revenue with keeping Twitter Twitter.”
According to Shares Post Inc, an exchange for privately held companies, Twitter is valued for about $2.4 billion. Costolo has made it clear they will not be rushing into an IPO anytime in the near future.
Costolo and Williams have seen fierce growth in the company going from 20 workers to 300 and from 1.25 million tweets, as Twitter posts are called, a day in 2008 to 90 million tweets a day currently.
Evan Williams co-founded Twitter with Biz Stone. Williams also founded the company Blogger which he sold to Google in 2003. Costolo founded the FeedBurner Company which he sold to Google in 2007. So the main players at Twitter are used to making deals and growing popular companies bigger. As an avid Twitter user, this writer hopes they keep the uniqueness and charm that is Twitter intact as they grow to bring in many more tweeps to make more tweets.