--- title: Twitter CEO Jack Dorsey has resigned, will be replaced by CTO Parag Agrawal - The Hustle description: After 16 years at Twitter, Jack Dorsey -- one of the social platform’s co-founders -- resigns as CEO. image: https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/438957891-News-Brief-Midroll-Images_2021-11-30T004348.322Z.webp --- # Twitter CEO Jack Dorsey has resigned, will be replaced by CTO Parag Agrawal ![Trung T. Phan](https://thehustle.co/wp-content/uploads/2020/04/Image-from-iOS-300x300.jpg?width=48&height=48&name=Image-from-iOS-300x300.jpg) [Trung T. Phan](https://hs-sbup.thehustle.co/author/trung-t-phan) [Trung T. Phan Twitter profile ](https://twitter.com/TrungTPhan) Published: November 30, 2021 Updated: October 11, 2023 It’s one of the longest-running questions in tech: How does Jack Dorsey have time to be CEO of 2 companies? ![Twitter CEO Jack Dorsey has resigned, will be replaced by CTO Parag Agrawal](https://hs-sbup.thehustle.co/hs-fs/hubfs/The%20Hustle%20News/Assets/Images/438957891-News-Brief-Midroll-Images_2021-11-30T004348.322Z.webp?width=595&height=400&name=438957891-News-Brief-Midroll-Images_2021-11-30T004348.322Z.webp) For years, Dorsey has been running both Twitter (the $37B social network) and Square (the $98B payments firm). #### **We won’t have to ask that question anymore** On Monday, Dorsey announced he’s leaving Twitter after 16 years in various roles (including as co-founder). He tweeted out his resignation email, noting 3 reasons why he is ready to [move on](https://twitter.com/jack/status/1465347002426867720/photo/1): - **The official new CEO **is [Parag Agrawal](https://www.cnbc.com/2021/11/29/twitter-ceo-jack-dorsey-is-expected-to-step-down-sources-say.html), Twitter’s CTO who started as an engineer and has, per Dorsey, “been behind every critical decision that helped turned this company around” - **The incoming board chair** is Bret Taylor, an early Facebook CTO and [soon-to-be](https://www.theinformation.com/articles/at-salesforce-a-ceo-shift-from-benioff-to-taylor-draws-near) Salesforce CEO who Dorsey says “understands entrepreneurship, taking risks, [and] companies at massive scale” - **Twitter employees, **who have a lot of “ambition and potential,” according to Dorsey #### **What’s next for Twitter?** Twitter’s stock price is hovering at the same level it was in the summer of 2018. Meanwhile, its competitors (Facebook, Snap) have zoomed ahead. Agrawal takes over as Twitter tries to unlock new monetization opportunities including [tipping](https://www.socialmediatoday.com/news/twitter-opens-up-tipping-to-all-users-part-of-its-continued-push-to-facili/607113/), newsletters, a social audio tool ([Twitter Spaces](https://sproutsocial.com/insights/twitter-spaces/)), and its first subscription product ever ([Twitter Blue](https://www.theverge.com/2021/11/9/22766286/twitter-blue-subscription-service-scroll-nuzzel-undo-tweets-ad-free-articles-us)). Per *CNBC*, Twitter’s [goals](https://www.cnbc.com/2021/02/25/twitter-sets-goals-to-double-revenue-reach-315-million-users-by-end-of-2023.html) by end-2023 are aggressive: - **Monetizable daily active users (mDAUs):** 315m (vs. ~200m in 2020) - **Revenue**: $7.5B (vs. $3.7B in 2020) #### **Dorsey has more time for Square** The payments platform he founded in 2009 has been very busy this year: - **May: **It acquired the Jay-Z owned streaming platform Tidal for [$297m](https://thehustle.co/03052021-/) - **August**: It announced a [$29B](https://techcrunch.com/2021/08/01/square-to-buy-buy-now-pay-later-giant-afterpay-in-29b-deal/) deal for “buy now, pay later” (BNPL) company Afterpay - **October: **It floated plans to [create](https://www.cnbc.com/2021/10/15/square-ceo-jack-dorsey-says-looking-to-build-bitcoin-mining-system.html) Bitcoin mining hardware Cryptocurrency may be Dorsey’s long-term ambition. 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