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Dorsey's journey from microblogging pioneer to billionaire

Stock MarketsNov 29, 2021 12:25PM ET
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© Reuters. FILE PHOTO: Twitter's Chairman Jack Dorsey attends a photocall in the Westbury Hotel to mark the opening of Founders in Dublin October 28, 2010. REUTERS/Cathal McNaughton/File Photo

(Reuters) - Jack Dorsey on Monday stepped down as the chief executive officer of Twitter Inc (NYSE:TWTR), the social media firm he helped found in 2006 and steered through a high-profile hack and the controversial banning of former U.S. President Donald Trump.

Dorsey, who also helms fintech firm Square Inc (NYSE:SQ), will be succeeded by Chief Technology Officer Parag Agrawal.

Here is a timeline of milestones in Dorsey tenure at Twitter:

2006 https://twitter.com/jack/status/20?s=20: Typed out the microblogging platform's first post: "just setting up my twttr".

2008 https://www.reuters.com/article/twitter-ceo-idUSN1642880520081016: Co-founder Evan Williams took over as CEO after the board pushed Dorsey out. Dorsey assumed the role of chairman.

2013 https://www.reuters.com/article/us-twitter-ipo-idUSBRE99N1AE20131107: Twitter went public at a valuation of $31 billion.

2015 https://www.reuters.com/article/us-twitter-ceo-dorsey-idUSKCN0RZ16520151005: Dorsey returned as CEO after Dick Costolo stepped down.

2017 https://www.reuters.com/article/us-usa-trump-idUSKBN1D3015: A Twitter employee on his last day deactivated then U.S. President Donald Trump's account which was restored 11 minutes later.

2018 https://www.reuters.com/article/us-twitter-character-idUSKBN1D72ZB: Twitter increased the character limit of tweets to 280 from 140, sparking a mixed reaction in twitterverse.

2020 https://www.reuters.com/article/us-softbank-group-stake-elliott-idUSKBN2002PW?taid=5e3cecabebed6f0001a5a00d&utm: Activist hedge fund Elliott Management pushed for changes, including the removal of Dorsey as CEO.

2020 https://www.reuters.com/article/us-twitter-elliott-idUSKBN20W1SS: Twitter reached an agreement with Elliott to add three new directors for letting Dorsey stay on as CEO.

2021 https://www.reuters.com/world/us/twitter-permanently-suspends-trumps-account-cites-incitement-violence-risk-2021-01-09: In the wake of the riots at the Capitol, Twitter permanently suspended Trump's account, with the company citing a risk of further incitement of violence.

2021 https://www.reuters.com/article/us-twitter-outlook-idUSKBN2AP1WD: Twitter outlined plans in February to attain at least $7.5 billion in annual revenue and 315 million monetizable daily active users, or those who see ads, by the end of 2023.

2021 https://www.reuters.com/business/media-telecom/twitter-boss-jack-dorseys-first-tweet-sold-29-million-an-nft-2021-03-22: In March, Dorsey sold his first tweet as a non-fungible token (NFT) - a kind of unique digital asset - for just over $2.9 million.

2021 https://www.reuters.com/world/us/trump-says-he-is-suing-facebook-twitter-google-claiming-bias-2021-07-07: Former U.S. President Donald Trump in July filed lawsuits against Twitter, Facebook Inc (NASDAQ:FB) and Alphabet (NASDAQ:GOOGL) Inc's Google, as well as their chief executives, alleging they unlawfully silence conservative viewpoints.

2021 https://www.sec.gov/Archives/edgar/data/0001418091/000141809121000209/twtr-20210930.htm: The company said it had 211 million average monetizable daily active users, as of the three months ended Sept. 30.

2021 https://www.forbes.com/profile/jack-dorsey/?sh=550e82942372: Dorsey's net worth is $11.8 billion as of Nov. 29, according to Forbes.

Dorsey's journey from microblogging pioneer to billionaire
 

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