Friday, October 23, 2015

Notations From the Grid: An #Outsider newsflash as @Jack makes it happen For his team!!!

We congratulate +Jack Dorsey on this expression of faith, confidence and leadership as he works to transform Twitter:

JACK DORSEY GIVES A THIRD OF TWITTER STAKE TO EMPLOYEES Jack Dorsey, the chief executive of Twitter and Square, announced that he would donate a third of his stake in Twitter to the employee stock compensation pool, Vindu Goel reports in the Bits blog. The stake is worth close to $200 million.

"I'd rather have a smaller part of something big than a bigger part of something small," he wrote on Twitter. "I'm confident we can make Twitter big!"

No employee is given stock directly as a result, but it makes more shares available for grants and could prop up morale at the company, which took a hit after he laid off 8 percent of the work force.

Mr. Dorsey's move comes after his disclosure in Square's paperwork for an initial public offering that he would donate 40 million shares of that company, or 10 percent of the total stock outstanding, to the Start Small Foundation.

Those shares, on top of the 15 million he had already donated, are to be sold to Square customers to raise money for artists, musicians and local businesses.

We here @ #Outsiders consider Twitter a valued partner of our network and look forward to doing our part to contribute to the on-going development of this network.

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