Jack Dorsey is certainly a man of many ways and ideas with Twitter just being one of his many startups that he has built from teh ground up to offer solutions to some interesting problems in the world today.
When Elon Musk, the world’s richest billionaire completed the deal to take over Twitter for $44 billion on October 27, 2022, many people believed the bumper package would see fellow billionaire Jack Dorsey slip into retirement. Well, if you were one of those who thought this, you thought wrong.
The business magnate Elon Musk did not make the decision to buy Twitter overnight, so do not be deceived. Regardless of how it played out in the media, Jack Dorsey knew what was coming, and he was fully prepared for it.
Musk officially initiated the acquisition of the American social media company Twitter, Inc. on April 14, 2022, and finalized the takeover on October 27, 2022. However, long before this time, he had already begun buying Twitter shares in January 2022. By April last year, before his official declaration of intent to buy Twitter, Elon Musk was already the largest shareholder in Twitter, holding as much as a 9.1 percent ownership stake in the company.
Jack Dorsey co-founded Twitter in 2006, and despite his involvement with other Fortune 500 companies, it was Twitter that made him a billionaire. Before the sale of Twitter last year, Dorsey had already announced his decision to step down as CEO of the company on November 29, 2021.
Since the sale of his multi-billion dollar company – Twitter, many have tried to monitor his life after Twitter. In this article, Exclusive Africa shares that information for what is perhaps the first time as we take a look at life after Twitter for Jack Dorsey and five companies presently managed by the American billionaire. So, if you had thought Dorsey went into retirement, you thought wrong.
5 Companies Presently Managed By Jack Dorsey
Jack Dorsey is the co-founder, principal executive officer, and chairperson of Block, Inc., a publicly traded American company that rebranded from Square, Inc. – which it was formerly known. The company is the developer of Square – an international financial services platform that owns and manages the Square Cash App.
In 2021, after stepping down as the CEO of Twitter, Jack Dorsey turned his focus to a new company – Bluesky Social. The company aims to create a decentralized social network protocol. Initially, it was organized as a non-profit initiative of Twitter in 2019 under the name – Bluesky Public Benefit LLC. However, it is currently running without any controlling stake held by Twitter.
Stitch Labs Inc.
Stitch is an operations management software company acquired by Jack Dorsey on July 10, 2020, but the terms and the acquisition fee were not disclosed. The tech company was founded in 2011 by Brandon Levey, Jake Gasaway, and Michelle Laham. The company offers solutions through a commerce operations management platform that provides businesses with inventory and order management, channel management, and fulfillment solutions.
Weebly is a renowned website-building platform acquired by Jack Dorsey on May 31, 2018, for approximately $272.5 million. The San Francisco-based tech startup was founded in 2007. The company offers the public a global platform that simplifies the process of building a professional and unique website, blog, or online store within minutes. Weebly is currently serving millions of customers on over 50 million websites globally.
Verse Technologies Inc.
Verse Technologies Inc. is a Spain-based tech startup that offers a mobile P2P payment app that Jack Dorsey acquired on June 15, 2020. Although the financial terms were not disclosed, the company is currently estimated to be worth between $33.8 million and $56.3 million.