Business Insider: Twitter announced Thursday that current CEO Dick Costolo will be stepping down from his post, effective July 1. Jack Dorsey will be returning as interim CEO. He will stay on as CEO of Square
This isn’t Dorsey’s first time in this post. He cofounded Twitter with Biz Stone and Evan Williams back in 2006, but left the company in 2008. He returned in 2010 to lead product, but ended up scaling back his responsibilities. He will stay on as CEO of Square, the mobile payments company he founded in 2010, while managing new responsibilities at Twitter. Dorsey first became a billionaire in 2012, and he is currently worth $2.4 billion.
VENTUREBEAT: There are a lot questions around what’s going on at his other company, Square. The biggest of all of them is whether the company will go public or sell. Either way, all signs point to an exit. Square remains adamant that Dorsey will not only continue to lead the company, but that it has no concerns whatsoever that his new responsibilities at Twitter will in any way affect operations at Square. Read the full article
Business Insider: The payments startup Square plans to go public this year and may have already filed a confidential registration document with the Securities and Exchange Commission,sources with knowledge of the matter tell Forbes. Confidential filings are permitted for companies with less than $1 billion in revenue. Read the full article
TECHCRUNCH: Apple announced a new partnership for Apple Pay with Square, which will release a new card reader designed to allow small businesses to take Apple Pay payments as well as credit card chip payments, but not card swipes. However, Square says it will ship its standard magnetic card stripe reader with the new NFC/EMV card chip reader so merchants can accept all forms of payment. Square will earn its standard 2.75 percent fee on all of these transactions, allowing it to earn money by pushing the adoption of Apple Pay. Read the full article. Read the full article
Inc.com: Chuck Blakeman, Crankset Group founder, has published his article about leadership – according to him, a true leader lets his employees make decisions and doesn’t interfere with this process. He supports this idea with examples of great leaders – Bill Gore, Ricardo Semler and Jack Dorsey. Jack Dorsey, co-founder of Twitter and present CEO of Square: “If you take decision in your company, you are not a leader.” Read the full article