Technology

Dorsey's journey from microblogging pioneer to billionaire

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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

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Nov 29 (Reuters) - Jack Dorsey on Monday stepped down as the chief executive officer of Twitter Inc (TWTR.N), 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 (SQ.N), will be succeeded by Chief Technology Officer Parag Agrawal. read more

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

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2006: Typed out the microblogging platform's first post: "just setting up my twttr".

2008: Co-founder Evan Williams took over as CEO after the board pushed Dorsey out. Dorsey assumed the role of chairman.

2013: Twitter went public at a valuation of $31 billion.

2015: Dorsey returned as CEO after Dick Costolo stepped down.

2017: A Twitter employee on his last day deactivated then U.S. President Donald Trump's account which was restored 11 minutes later.

2018: Twitter increased the character limit of tweets to 280 from 140, sparking a mixed reaction in twitterverse.

2020: Activist hedge fund Elliott Management pushed for changes, including the removal of Dorsey as CEO.

2020: Twitter reached an agreement with Elliott to add three new directors for letting Dorsey stay on as CEO.

2021: 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: 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: 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: Former U.S. President Donald Trump in July filed lawsuits against Twitter, Facebook Inc (FB.O) and Alphabet Inc's Google (GOOGL.O), as well as their chief executives, alleging they unlawfully silence conservative viewpoints.

2021: The company said it had 211 million average monetizable daily active users, as of the three months ended Sept. 30.

2021: Dorsey's net worth is $11.8 billion as of Nov. 29, according to Forbes.

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Reporting by Akash Sriram and Chavi Mehta in Bengaluru; Editing by Sriraj Kalluvila

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