"Jack Dorsey is a talented entrepreneur who has helped create groundbreaking new businesses in the social media and commerce spaces," said Robert A. Iger, Disney's chairman and chief executive officer, in a statement today. Iger explained that Dorsey's forward-thinking perspective will prove "extremely valuable" given the company's priorities, which include utilizing the latest technologies and platforms to expand the company's reach. Dorsey, for his part, called Disney a "timeless company" he was honored to join.
The addition of Dorsey to Disney's board is an interesting one. His first successful brainchild, Twitter, is trading at nearly $65 a share, up 43% since its successful IPO in November. That company arguably altered the way 230 million-plus active monthly users communicate and consume information via pithy, real-time updates. Meanwhile, Dorsey's other venture, the credit card-processing Square, continues to rapidly grow, with a reported projection of nearly $1 billion in revenues next year. It is reportedly eying an IPO in 2014, as well.
"He certainly has what it takes to innovate," says James MacQuivey, vice president and analyst for Forrester Research He explains Disney's appointment makes sense given Dorsey's role in two high-profile businesses that are 100-percent digital.
Which could be exactly what Disney needs. Although the company has long since diversified from its humble origins as a short film production company in 1923 and transformed into a $128 billion media and entertainment company with five segments -- Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and Interactive -- folks like Iger obviously believe having the inventiveness of tech visionaries like Dorsey should strengthen the company and its bottom line further.
Dorsey is replacing former Cisco (CSCO) exec Judith Estrin, who is leaving because she reached the 15-year term limit for the Disney board. His appointment also aligns Dorsey with Facebook COO Sheryl Sandberg, who was named to the Disney board in December, 2009.
Still, MacQuivey understandably remains cautious on whether Dorsey will effect much change. Says MacQuivey: "It all depends on whether Disney will be open their minds up to his influence."
After the announcement came out earlier today, Dorsey tweeted a picture of an early Mickey Mouse sketch and a quote from Walt Disney: "I only hope we don't lose sight of one thing—that it was all started by a mouse."
The Facebook COO and Lean In author offers frank advice to Salesforce.com's chief executive at its annual customer conference.
FORTUNE -- Facebook (FB) COO Sheryl Sandberg has a lot of advice for women who want to advance in their careers. This week, she also took her Lean In message to Salesforce.com (CRM) CEO Marc Benioff and the throngs of conference-goers at the cloud computing company's annual Dreamforce conference in San Francisco.
Sandberg, one of MOREMichal Lev-Ram, writer - Nov 21, 2013 10:28 AM ET
Sandberg, better known these days for her blockbuster book Lean In, reminded the audience at the AllThingsD conference that she's still helping run Facebook too.Adam Lashinsky, Sr. Editor at Large - May 29, 2013 3:36 PM ET
New survey results from job marketplace Elance.
By Kurt Wagner, reporter
FORTUNE -- A new survey by online job marketplace Elance found that men and women share similar opinions when it comes to women working in the tech industry. The results, which consisted of answers from close to 7,000 freelancers mainly in the U.S., found that both males and females agree on the top deterrents keeping women out of the tech industry, MOREApr 30, 2013 10:22 AM ET
SurveyMonkey's CEO had a front-row seat for Facebook's rocky IPO. He's in no hurry to follow suit.
FORTUNE -- Forgive Dave Goldberg, chief executive of rapidly growing SurveyMonkey, for not being in the slightest rush to take his 13-year-old company public. Let's just say he has lived the downside.
"I took my first company public and worked at Yahoo (YHOO) for seven years, and I saw plenty of decisions made because of what MOREAdam Lashinsky, Sr. Editor at Large - Jan 17, 2013 9:00 AM ET
Also: Deutsche Telekom may merge Metro PCS and T-Mobile USA; the 'lost' Steve Jobs speech.
MoviePass debuts an unlimited movie service that may just save cinemas [VENTUREBEAT]
Here's how it works: For a flat monthly fee (between $24.99 and $39.99, depending on where you live), MoviePass grants you access to one free movie ticket a day. To use the ticket, you simply need to head to a movie theater, check in using MOREJP Mangalindan, Writer - Oct 3, 2012 5:30 AM ET
He became a punch line 12 years ago. Now Michael Saylor is back - and with juice from Facebook.
By David A. Kaplan, contributor
FORTUNE – There's unfiltered, there's unvarnished, and then there's Mike Saylor.
He's the 47-year-old archetype of dotcom-era lunacy and the CEO of MicroStrategy (MSTR), a midsize business-intelligence software company based in the suburbs outside Washington, D.C. At lunch we've been discussing his company's record revenues, his fascination with MOREJun 27, 2012 5:00 AM ET
How does the social media giant really work? Read this story before you buy the stock.
By Miguel Helft & Jessi Hempel
Editor's note: This article originally appeared in the March 19, 2012 issue of Fortune magazine. A shorter version appeared on Fortune.com on March 1, 2012.
FORTUNE -- On a Friday morning not long ago, Mark Zuckerberg gathered his troops for a much-anticipated all-hands meeting at Facebook's brand-new headquarters. It was billed as MOREMay 16, 2012 10:04 AM ET
Fortune's curated selection of tech stories from the last 24 hours. Sign up to get the round-up delivered to you each and every day.
"Regardless of how you feel about digital ecosystems or about Google, please do not take the free and open internet for granted from government intervention. To the extent that free flow of information threatens the powerful, those in power will seek to suppress it." -- Google co-founder Sergey Brin (Google+)
* MOREJP Mangalindan, Writer - Apr 19, 2012 3:30 AM ET
Apple's CEO shares the spotlight with Marc Andreessen, Sheryl Sandberg and Anonymous
Al Gore has nothing but kind words for Steve Jobs' successor. His 200-word write-up begins:
"It is difficult to imagine a harder challenge than following the legendary Steve Jobs as CEO of Apple. Yet Tim Cook, a soft-spoken, genuinely humble and quietly intense son of an Alabama shipyard worker and a homemaker, hasn't missed a single beat."
The magazine identifies Gore as a former MOREPhilip Elmer-DeWitt - Apr 18, 2012 10:20 AM ET
|GM's recalled Cobalt was a failure from the start|
|Michaels hack hit 3 million|
|Ousted Yahoo exec gets $58 million golden parachute|
|Canadians arrest a Heartbleed hacker|
|Hybrid laundromat-cafes are popping up across the country|