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Breaking: Jack Dorsey is stepping down as Twitter CEO

Twitter CEO Jack Dorsey is expected to step down, CNBC reports, without specifying how it obtained the information, Bloomberg News reports.

Twitter shares rise more than 12% in premarket trading. 

Jack had a few days ago written, “I love twitter”, a tweet that now seems like a hint to Monday’s announcement of his stepping down.

Williams, Stone and Noah Glass co-founded Obvious Corporation, which then spun off Twitter, Inc., with Dorsey as the Chief Executive Officer (CEO).

As CEO, Dorsey saw the startup through two rounds of funding by venture capitalists.

He reportedly lost his position for leaving work early to enjoy other pursuits, such as yoga and fashion design.

Dorsey, along with co-founder Jim McKelvey, developed a small business platform to accept debit and credit card payments on a mobile device called Square, released in May 2010.

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