Home  › Social › Social Media
dickcostollo

Twitter Promotes Dick Costolo to CEO

  |  October 4, 2010   |  Comments

Ev Williams steps down from his role to focus on product development as the company continues to expand its ad offering.

promotedaccountsTwitter today announced Dick Costolo, its former chief operating officer, has been promoted to the role of CEO of the social network, replacing Evan Williams who will now focus on product strategy. The company also announced the rollout of a new advertiser product called Promoted Accounts, details of which Costolo initially revealed last week.

In a post on the company's blog this afternoon, Williams described his decision to step down as CEO, and to install Costolo in his place, stating, "I am most satisfied while pushing product direction. Building things is my passion, and I've never been more excited or optimistic about what we have to build," and adding, "starting today, I'll be completely focused on product strategy."

In a statement e-mailed to ClickZ this afternoon, Costolo said he respected Williams' decision to focus on the product side of the business, stating, "As we've all see with the new Twitter, when Ev focuses on product, something amazing can happen. I'm certainly excited to be taking on this role. You couldn't ask to take a job like this at a better time - the team is incredible, we have awesome stuff in the pipeline, and we're ready to accomplish more in the next two years than we've accomplished in the last four."

Williams' new remit will include building out Twitter's advertiser products, through which it hopes to monetize the 90 million tweets passing through its network every day. Also writing on Twitter's blog, Carolyn Penner - a member of the company's communications team - confirmed the official launch of Promoted Accounts, a new feature Costolo described at the IAB's Mixx conference in New York last week.

The product will allow brands to include themselves in the Suggested Followers panel that appears alongside users' accounts, and is designed to help them increase their audience across the site. However, brands will only be suggested if deemed relevant to users. "When an advertiser promotes an account, Twitter's algorithm looks at that account's followers and determines other accounts that those users tend to follow. If a user follows some of those accounts, but not the advertiser's account, then Twitter may recommend the advertiser's Promoted Account to that user," Penner explained.

In addition to the new product, Penner also announced the company will soon begin feeding its ad formats - including Promoted Tweets and Promoted Trends - into third-party applications via its API. Partners such as HootSuite will display ads across their properties in return for a share of ad revenue. The arrangement should help increase exposure for Twitter's advertiser clients, since a large number of its user base access the service exclusively through clients such as HootSuite and TweetDeck, among others.

ClickZ Live Toronto Twitter Canada MD Kirstine Stewart to Keynote Toronto
ClickZ Live Toronto (May 14-16) is a new event addressing the rapidly changing landscape that digital marketers face. The agenda focuses on customer engagement and attaining maximum ROI through online marketing efforts across paid, owned & earned media. Register now and save!

ABOUT THE AUTHOR

Jack Marshall

Jack Marshall was a staff writer and stats editor for ClickZ News from 2007 until August 2011. 

COMMENTSCommenting policy

comments powered by Disqus

Get ClickZ Social newsletters delivered right to your inbox. Subscribe today!

COMMENTS

UPCOMING EVENTS

Featured White Papers

ion Interactive Marketing Apps for Landing Pages White Paper

Marketing Apps for Landing Pages White Paper
Marketing apps can elevate a formulaic landing page into a highly interactive user experience. Learn how to turn your static content into exciting marketing apps.

eMarketer: Redefining Mobile-Only Users: Millions Selectively Avoid the Desktop

Redefining 'Mobile-Only' Users: Millions Selectively Avoid the Desktop
A new breed of selective mobile-only consumers has emerged. What are the demos of these users and how and where can marketers reach them?

Jobs

    • Sr. Paid Search Manager
      Sr. Paid Search Manager (Bisk Education) - TampaCurrently seeking a Sr. Paid Search Manager in Tampa, FL for Bisk Education! Bisk Education is a...
    • Contact Center Professional
      Contact Center Professional (TCC: The Contact Center) - Hunt ValleyLooking to join a workforce that prides themselves on being routine and keeping...
    • Recruitment and Team Building Ambassador
      Recruitment and Team Building Ambassador (Agora Inc.) - BaltimoreAgora, www.agora-inc.com, continues to expand! In order to meet the needs of our...