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Jack is back as Twitter CEOTwitter co-founder Jack Dorsey has been picked to lead the social-media company for a second time. CNET's Lexy Savvides explains what that means for Twitter users and the struggling company.
[MUSIC] What's old is new again at Twitter. The microblogging site has named co-founder and former CEO Jack Dorsey as its new CEO to replace **** Costolo. With Twitter struggling to raise its stock price and grow its user numbers, investors are looking for stability. Dosi served as Twitter's first CEO from 2006 to 2008. I think the company and investors are looking for a sense of calm and reassurance as the company's going through one of its most tumultuous times in its nine year history. Stock is hovering near around its original IPO price of $26, and the goal right now is to increase Users can make the product more simple to use. One of Dorsey's biggest challenges will be how to expand Twitter's appeal past celebrities, politicians, activists and journalists. Right now, Twitter has 316 million users but that pales in comparison to Facebook's 1.5 billion and Instagram has some 300 million so Trying to find a way to increase users and also to make the product a little more simpler and easier to use. Since leaving Twitter, Dorsey founded mobile payment company, Square. Dorsey will now head up both companies. In San Francisco Lexi [INAUDIBLE] cnet.com for CBS News. [SOUND]