Jack Dorsey Strives To Make Twitter Big, Keen On Employee Equity

Twitter co-founder and CEO Jack Dorsey has given a third of his stake in the company to employees. He tweeted last week:

“I'm giving ~1/3rd of my Twitter stock (exactly 1% of the company) to our employee equity pool to reinvest directly in our people.”

Earlier this month, he also announced plans to lay off about 335 employees or about 8% of the company’s workforce. Fortune says that possibly in part to ease the pain of that restructuring, Dorsey made the announcement about giving away of shares that amounts to about 1% of the company’s total equity base.

Dorsey tweeted, “As for me: I'd rather have a smaller part of something big than a bigger part of something small. I'm confident we can make Twitter big!”

Clearly, he is making every possible decision to breathe life into the company. Of late, the social media giant has been struggling to boost its user growth.

“Twitter added 4 million monthly active users during the third quarter of this year for a total of 320 million MAUs — short of the 324 million it projected. That's already sent the company's stock down after hours”, The Verge reported on Tuesday.

In an attempt to revive the site, Twitter has introduced a new feature “Moments” to enable users to access latest happenings instantly on the social networking site. Taking a step further, the company has launched a national TV advertising campaign, called “Post-Season,” – a 30-second spot aimed at sports enthusiasts to introduce Moments feature, The Verge reported.