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Twitter COO Anthony Noto resigns to lead a finance startup
If there was one person at Twitter who was more important than co-founder and CEO Jack Dorsey, it was COO Anthony Noto. Now, in what could be big news for the social network, Noto has announced that the rumors are true and he is leaving the company to become CEO of personal finance startup SoFi. Noto will begin his responsibilities leading SoFi on March 1st, but the move is likely to cause some fallout for the imperiled microblogging site.
Twitter may lose the exec driving its live video strategy
Twitter's big bet on live video might be running into trouble. Wall Street Journal sources have claimed that COO Anthony Noto, the exec that has been driving Twitter's live video push, is in talks to become the CEO of online lending startup Social Finance. Noto has reportedly been eager to take the helm of a company, and SoFi is said to be enticing him with a "significant" stake in the company if he signs on. Whether or not he jumps ship is another matter, however.
Twitter closes in on its first-ever profitable quarter
Twitter has updated the world on its financial position for the third quarter of this year, and the outlook is better than it has been for a while. The company has seen monthly active user figures increase, arresting the slide that it had to report across the summer. In addition, net losses have been trimmed down to just $21 million, and if Twitter can improve on its targets in the next three months, it may even turn a profit.
Twitter spent 2016 pouring gasoline on its fires
Twitter isn't a single entity, but a conglomeration of communities that use the same platform for various purposes. There's weird Twitter, political Twitter -- hell, there's even a cute animal pictures Twitter. Beyond communication in 140-character snippets, there's only one other thing that the service's disparate users can agree on: the fact that the site has failed to fix any of the fundamental problems that have dogged it for years.
Twitter COO Adam Bain steps down
This afternoon Twitter's Chief Operating Officer Adam Bain announced in a series of tweets that he is leaving the company after six years "and a once-in-a-lifetime run." Listed second under CEO Jack Dorsey on Twitter's management page, Bain was in charge of building the company's advertising business. His departure comes after weeks of turmoil for the company, including rumors of a sale and hundreds of layoffs. A Bloomberg report in October signaled an internal struggle with CFO Anthony Noto taking more control, and he will replace Bain in the COO position.
Twitter will fire around 350 employees in hunt for profits
Twitter's not had a great time of it lately, with several would-be suitors deciding that they didn't want to buy the burgeoning social network anyway. Now, the company has announced its latest financial results and a restructuring plan in the hope of making itself profitable by 2017. The headline initiative will be to hack back nine percent of the company's workforce -- around 350 employees. It mirrors a similar move Dorsey made in October 2015 when he fired 336 people from the company in order to cut costs. Twitter expects that the layoffs will cost between $10 and $20 million to cover severance fees.
Jack Dorsey calls Twitter the 'people's news network'
One of the reasons that Twitter has struggled with its investors is because nobody, not even its leaders, really knows what Twitter is for. In a memo sent around to employees, CEO Jack Dorsey seems to have stumbled across his vision for the embattled company. The note, which was sent to celebrate a year running the company, describes the site as "the people's news network," with a combination of "news and talk."
Bloomberg: Twitter is locked in an internal battle over sale
Something is rotten in the state of Twitter, and it looks as if some of the blame should be laid at the feet of Jack Dorsey. At least, that's the sentiment of a lengthy report from Bloomberg that discusses the company's current malaise. According to sources, there's a three-person battle amongst the firm's leadership over what Twitter should be, and what its future holds. Dorsey reportedly wants to keep running Twitter as an independent company, while co-founder and board member Ev Williams wants to pursue a sale.
Twitter's CFO is not very good at using Twitter (update)
A hacked account can happen to the best of us, but it's a bit embarrassing when you're an executive of the service in question. Enter Anthony Noto, Chief Financial Officer of Twitter. He's already suffered a "DM fail" -- accidentally tweeting a message instead of sending it privately -- that revealed a possible acquisition in the works, and today his account appears to have been hijacked by a URL spammer (as seen here, but obviously you should not click the links). Usually these things happen when a user clicks on a phishing link and enters their login details on a webpage spoofing the original service, but there are several ways (besides intense vigilance and never clicking on anything, ever) to prevent this.
