Their investors obviously got tired of waiting for a return. When that happens at any VC-backed company they start ratcheting up the pressure on the CEO and executive team. And if they don't start generating a return quickly enough, they put their own guy in place. So co-founder Evan Williams moved on from his CEO position in late 2010 and the new leadership purged the old guard. Dick Costolo took over.
Either it took 2 years for his profit strategy to come together or the pressure started ratcheting up on him, too. After all, investors have sunk a silly amount of money into Twitter; they expect a return.
Either way, I wouldn't want to work at Twitter right now...
Either it took 2 years for his profit strategy to come together or the pressure started ratcheting up on him, too. After all, investors have sunk a silly amount of money into Twitter; they expect a return.
Either way, I wouldn't want to work at Twitter right now...