Co-founder Biz Stone leaving Twitter

June 29, 2011
In this March 29, 2011, file photo, Biz Stone, co-founder of Twitter, is interviewed on "At Martha's Table," with Martha Stewart, at the SiriusXM Satellite Radio studios in New York, Tuesday, March 29, 2011. Isaac "Biz" Stone is moving on from Twitter, just five years after co-founding the microblogging site that has become integral to the social media scene around the globe. The move comes as Twitter has been trying to build upon its popularity to make more money by selling more ads. (AP Photo/Richard Drew, File)

(AP) -- Isaac "Biz" Stone is moving on from Twitter, just five years after co-founding the microblogging site that has become integral to the social media scene around the globe.

Stone, 37, said Tuesday on his blog that he will work with the company "for many years to come," but that the most effective use of his time now is to "get out of the way" of Twitter's crew and leadership team until he's called upon to be of some specific use.

Stone says he plans to focus on helping schools, and company advisory boards. He's also relaunching Obvious Corp. with fellow co-founder to develop new projects.

The move comes as Twitter has been trying to build upon its popularity to make more money by selling more ads. The privately held company doesn't disclose its finances, but research firm eMarketer Inc. estimates Twitter will bring in of about $150 million this year.

Stone's departure caps a year of executive changes at the San Francisco-based company. Last fall Williams handed over the reins to Twitter's current CEO, Dick Costolo, and moved on to explore new business ideas. In March, Twitter's third co-founder and original CEO Jack Dorsey returned to oversee product development as executive chairman.

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