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Wednesday, 29 June 2011 - Twitter founders return to roots, relaunch Obvious |
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    Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read UPDATE 1-Los Alamos scurries to protect nuclear lab from fire 28 Jun 2011 Judge blocks testimony from Casey Anthony fiancé 28 Jun 2011 Mel Gibson reaches divorce deal with longtime wife | 28 Jun 2011 BofA near $8.5 billion settlement on securities 28 Jun 2011 Special Report: A little house of secrets on the Great Plains | 28 Jun 2011 Discussed 221 Biden deficit-cut talks hit impasse: Rep. Cantor 139 CBO sees government benefits swamping U.S. economy 114 Fragile economy pushed Obama to tap oil reserves Watched A Tokyo-Paris flight in under three hours on the horizon Fri, Jun 24 2011 Hefner's revenge; Ryan Reynolds stops traffic Fri, Jun 17 2011 China's luxury fast train debuts Mon, Jun 27 2011 Twitter founders return to roots, relaunch Obvious Tweet Share this Email Print Related News Microsoft rolls out Office in the cloud Tue, Jun 28 2011 Twitter founders return to roots, relaunch Obvious Tue, Jun 28 2011 Analysis: Tencent in steep climb to be China's Facebook, Twitter Mon, Jun 27 2011 LulzSec's ambition grows, targets secret government data Tue, Jun 21 2011 Profitless Pandora pricks the tech bubble Fri, Jun 17 2011 Analysis & Opinion Google+ — Don’t call it the Facebook killer (for now) Entrepreneur Peter Yared: Social is “so over” Related Topics Technology » Media » Twitter co-founder Biz Stone (R) and CEO Evan Williams enter a news conference as they unveil the website Twitter.com in San Francisco, California September 14, 2010. Credit: Reuters/Robert Galbraith By Sarah McBride ASPEN, Co. | Tue Jun 28, 2011 8:43pm EDT ASPEN, Co. (Reuters) - Twitter co-founders Biz Stone and Evan Williams plan to revive Obvious, the company they conceived years ago as a technology project incubator that eventually spawned Twitter. Stone and Williams will continue to advise Twitter on strategic matters, but devote the lions' share of their time to The Obvious Corporation, Stone told the Aspen Ideas Conference at the ski resort on Tuesday. The pair, along with others such as Jack Dorsey, who now runs payments service Square, created the four-year-old website that allows users to send 140-character messages across the Internet. It has grown into a microblogging phenomenon used by celebrities and heads of state alike, hailed at times as a crucial tool in promoting the free flow of information. Neither Stone nor Williams told conference attendees explicitly what they intended with Obvious, apart from saying that they were excited about building projects that will improve people's lives. "All the biggest ideas are obvious in retrospect," said Williams. "If we get as lucky as Twitter, that would be great." Dick Costolo replaced Williams as Twitter's CEO in October, a move Silicon Valley sources have said re-focused the microblogging sensation on monetization, or translating its fast-growing pool of users into revenue. "The Twitter crew and its leadership team have grown incredibly productive. I've decided that the most effective use of my time is to get out of the way until I'm called upon to be of some specific use," Stone said in a blog post. here "Our plan is to develop new projects and work on solving big problems aligned along a simple mission statement: The Obvious Corporation develops systems that help people work together to improve the world." "This is a dream come true!" Stone said. DYNAMIC DUO In a conversation with Walter Isaacson, the Aspen Institute's chief executive, the duo skipped from topic to topic, flummoxing audience members hoping for clues on their new venture. They discussed the advantages of closed versus open systems online; how the Internet was changing philanthropy through services such as Kickstarter that allow crowdsourced funding; and how the Internet has affected distribution of content much more than content itself. "There are more fundamental things than how distribution evolves to change publishing," Williams said. The two charmed the audience, frequently drawing laughs with their deadpan wit. Stone described himself and Williams as "hallucinogenically optimistic", while their Obvious partner Jason Goldman, formerly vice president for product at Twitter, "is always like, 'here are the 10 ways we can get screwed'." Social networking services like Twitter and Facebook are increasingly challenging established online powers like Google Inc and Yahoo for Web surfers' time and advertisers' dollars. Twitter, which began courting advertisers one year ago, is still in the early stages of building a business. The company is expected to bring in about $150 million in ad revenue this year, compared with Facebook's roughly $4 billion in ad revenue, according to research firm eMarketer. In December, Twitter was valued at $3.7 billion in a $200 million funding round led by venture capital firm Kleiner Perkins Caufield & Byers. An auction of Twitter shares on the secondary market in March suggested investors were valuing the company at more than $7 billion. One audience member asked if there was a bubble in technology. "Maybe investor excitement is outpacing the development," Williams allowed. But he was firm about his corporate progeny. "I'm holding my Twitter stock long-term," he said. "If there is a correction, these things always go in cycles. So that will be fine." (Editing by Edwin Chan, Bernard Orr) Technology Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback   Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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