There’s at least one person who loves Twitter a whole lot: co-founder Jack Dorsey.
The CEO on Valentine’s Day tweeted out his affection for his popular, yet struggling social network, complete with the hashtag #LoveTwitter. He also linked to an SEC document detailing the roughly 426,000 shares of the company’s stock he bought for nearly $7 million.
Naturally, there was some praise, but also a healthy dose of skepticism within the Twitterverse:
Dorsey’s stock purchase comes nearly a week after Twitter announced its 2016 fourth-quarter revenue didn’t meet Wall Street analysts’ expectations and its user growth grew less than 1 percent. That disappointed investors who were expecting a “Trump bump” caused by the US president’s constant tweeting.
Dorsey said last week the company will be “more inventive and take bigger risks.”
While $7 million is a lot of money to us common folk, it’s a rounding error for Dorsey, who also runs mobile payments company Square. His net worth is estimated to be about $1.27 billion, according to Forbes.
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