Former Twitter CEO, Jack Dorsey, Launches New Social Media Platform

Founder and former CEO Twitter, Jack Dorsey has launched a new social media platform called “Bluesky.”

This happened just a week after business tycoon and owner of Tesla cars, Elon Musk,took over ownership of Twitter.
Dorsey’s new app, which is in its testing stage, already has over 30,000 people signed up for its beta testing within two days of the announcement.
According to Business Insider, Bluesky’s website stated that the new platform gives creators independence from platforms and developers and the freedom to design, allowing users to choose their experience.

Dorsey co-founded Twitter 17 years ago and briefly served as its CEO. He returned as CEO from 2015 to 2021 when he resigned.

Meanwhile, Bluesky has announced a number of job openings which include mobile application developer, react native expert, animation creator, and UI site manager.

Block, whose chairman and co-founder is Jack Dorsey, recorded an impairment charge of $2 million on its bitcoin investment during the third quarter. As of Sept, 30, the fair value of Block’s bitcoin investment was $156 million based on “observable market prices,” which was $45 million greater than the carrying value of the investment after impairment charges, the company noted.

Shares of Block jumped 14% in postmarket trading Thursday.

Block posted $1.57 billion in overall gross profit for the quarter, up from $1.47 billion in the second quarter. Total net revenue was $4.52 billion, up 17% year-over-year. Excluding bitcoin revenue, total net revenue was $2.75 billion, up 36% versus the prior year.