Jack Dorsey Just Quit Twitter & He Threw Shade At 'Founder-Led' Companies On His Way Out

Jack Dorsey is quitting Twitter.

The social media site's founder and CEO tweeted his resignation on Monday after reports surfaced earlier in the day that he was on his way out.

"Not sure anyone has heard but, I resigned from Twitter," he tweeted.

"I decided it's finally time for me to leave," he wrote in a memo to his staff, which he shared in his resignation tweet.

Dorsey cited his faith in the company and its users in his goodbye letter. He also took a shot at "founder-led" companies, without mentioning anyone by name.

"Ultimately I believe that's severely limiting and a single point of failure," he wrote. "I've worked hard to ensure this company can break away from its founding and founders."

Some suggested it was a subtweet about Facebook/Meta founder and CEO Mark Zuckerberg.

If it was, it wouldn't be the first time that Dorsey has thrown shade at their social media rival.

Dorsey mocked Zuckerberg last month for rebranding Facebook Inc. as Meta and has been critical of him several times in the past.

Parag Agrawal will take over as the company's new CEO and Dorsey will give up his seat on the company's board next May, according to the founder's email.

"My trust in him as our CEO is bone deep," Dorsey said. Agarwal was the company's chief technology officer before the promotion.

Dorsey didn't say what he'll do next but he's worth a reported US$11.8 billion, so we're guessing he'll be alright.