Sunday, April 24, 2011

Twitter and Blogger Founder Evan Williams Accused of Buying Back Shares of Odeo

Evan Williams, co-founder of Blogger and Twitter was accused by this piece of buying back shares of Odeo (businessinsider.com) so that he could own more of Twitter. Twitter is today a 5 billion company, soon to be 10 billion. I would call this business savvy. 
Excerpt:
Ex-Googler Evan Williams had a startup called Odeo. It was going to be a podcasting platform. Evan asked his friend, another ex-Googler named Biz Stone, to join him. When Apple launched iTunes podcasting, and made Odeo's podcasting platform irrelevant, Evan and Biz and an Odeo employee named Jack Dorsey decided to create something called Twitter instead. Odeo's investors didn't like Twitter, and Evan did them a huge favor by buying back all their stock and making them whole.

Interesting since I am a user of both Blogger and Twitter and thing both are great applications in the social media sphere.

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