Bilton’s Book set to reveal the controversial character of Dorsey


The book titled ‘Hatching Twitter: A True Story of Money, Power, Friendship, and Betrayal’ by Nick Bilton will make its debut next month. Bilton, a reporter for New York Times, talks about Twitter’s history and its not-so-amazing early days in this much anticipated book. The book’s abstract has been published by Times Magazine.
In his book, Bilton highlights the era of Jack Dorsey, Twitter’s acting CEO back in 2008. The author goes on to say that the then board of the company wasn’t all too happy with the direction in which Dorsey was taking the company. This dissatisfaction was the result of Dorsey’s simultaneous involvement in Twitter and other activities, such as fashion designing, yoga and fitness. The situation got to a point where Williams openly lashed out at Dorsey by saying that Dorsey could either design clothes or run Twitter, he simply cannot master the art of both.
Bilton continues on by saying that during the time this crisis was going on, Twitter fell prey to some major problems. As a result of this undesired scenario, Dorsey was asked by the board to step down as the company’s CEO; he was offered a position as the board’s chairman, which was nothing, but a mere title.
The book gets interesting where it highlights the period after Dorsey’s dismissal as the CEO of Twitter. Bilton says that Dorsey after leaving the post got in touch with the famous Mark Zuckerberg of Facebook; it was rumored that Dorsey was even considering a job opportunity at Facebook.
This little sneak peak is only one of the many exciting events covered by Bilton’s Book. It talks about the tales of betrayals, hostile takeovers, disloyalty and backstabbing among friends and co-founders that marked the early days of Twitter. The book promises to give a new perspective to its reader about the company’s founders and inventor.
It would be interesting to see how Twitter reacts to the book because the company certainly would not want their dirty laundry flaunted in front of their fans especially when its headed towards its first IPO (Initial Public Offering).
The book also covers another important dismissal of one of the early co-founds of the company, Noah Glass. According to a rumor that originated from Williams, Dorsey was the one who wanted to get rid of Glass. Glass, however, was able to sell almost all of his Twitter shares and it is expected that equity of most of Twitter’s founds will be turned into millions upon millions of dollar at the company’s IPO. Evan William too stepped down as the CEO back in 2011. This was also a Dorsey doing, who conspired with other board members to dethrone Williams. Bilton’s book is set to focus on Dorsey’s not so flattering character.
It is interesting to note that the shares of Facebook Inc (NASDAQ:FB) are valued at $47.48 in the current session, a rise of 0.77%.
Some interesting facts about Twitter;
• Twitter’s revealed a secretly filed S-1 Registration Form last week; the form was filed back in July with the Securities and Exchange Commission.
• Facebook Inc (NASDAQ:FB) ended up selling its shares over 15% of the company’s total float at its IPO, as the market was flooded with its shares. On the other hand Twitter will end up selling less than 10% of the company’s overall share count at its own IPO.