Twitter CEO Dick Costolo steps down, while direct message character limit goes up

Doubts remain over company’s ability to grow

Twitter’s chief executive Dick Costolo is to step down from his position at the beginning of July, the tech company has announced.

The company is now in the process of searching to find a replacement.

The move comes as Costolo faced mounting pressure over his failure to grow users of the service, and to also grow its revenue stream.

Since becoming a publicly owned company in 2013 after its debut on the New York Stock Exchange, Twitter has failed to turn a profit.

Meanwhile analysts remain sceptical about the company’s capacity to grow.

In a statement, Costolo said: “I am tremendously proud of the Twitter team and all that the team has accomplished together during my six years with the company.”

Character limit

Meanwhile the company has announced via Twitter (where else), that it will be lifting the 140 character limit on direct messages.

 

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