The huge social networking site Twitter has finally named their new chief executive officer. In the middle of fourth quarter, the company has decided to change its leader. The former CEO Evan Williams has decided to focus on product strategy. His second-in-command, Chief Operating Officer Dick Costolo will be filling in his position.
Williams has lead the company for 2 years while Costolo joined the company last year. He is a former advertising product manager at Google Inc. He has helped forge Twitter to search partnerships with Google, Yahoo Inc. and Microsoft Corp. There has been an enormous raise of Twitter users since its launch four years ago. Way back then, the social networking site was far behind but right now, it has become the world’s third-largest social-networking site, behind Facebook Inc. and Windows Live Profile. He joined Google way back 2007 wherein he also sold his company FeedBurner which distributes podcasts, blogs and other Internet content.
According to ComScore Inc. Twitter had 96 million unique visitors just this August and users post more than 90 million updates each day. They expanded their work force to more than 300 employees and more is yet to come in the future.
The greatest challenge that the new CEO would be facing is how to increase their revenue. Their advertising strategy still needs a lot of polishing. It has been proven and tested by some companies such as Virgin America but other companies are still in doubt.