Twitter CEO Dick Costolo just announced he's stepping down from his role at the company.
Jack Dorsey, one of the original founders of the company, is stepping in as Twitter's interim CEO beginning July 1st.
Legendary venture capitalist and early Twitter investor Fred Wilson went on a brief tweetstorm just after the news broke.
Costolo's previous stock sales, the company's recent lackluster financial performance, and stalled user growth had some Wall Street insiders questioning Costolo's leadership abilities recently.
But Wilson, whose VC firm Union Square Ventures first invested in Twitter's $5 million Series A round in 2007, spoke out with some comments about Twitter's history. In a brief tweetstorm Thursday, he defended Costolo's leadership and the roles Twitter's cofounders had in building the company.
"The story when a CEO transition happens is always 'she or he didn't do a good job,'" Wilson said. "I have found the opposite is mostly the case. Twitter is the perfect example of that."
We've embedded his tweets below.
1/ the story when a CEO transition happens is always "she or he didn't do a good job"
— Fred Wilson (@fredwilson) June 11, 2015
2/ I have found the opposite is mostly the case
— Fred Wilson (@fredwilson) June 11, 2015
3/ Twitter is the perfect example of that
— Fred Wilson (@fredwilson) June 11, 2015
4/ @jack gave Twitter its initial product market fit
— Fred Wilson (@fredwilson) June 11, 2015
5/ @ev built Twitter the company
— Fred Wilson (@fredwilson) June 11, 2015
6/ @dickc scaled Twitter into a massive business and valuable publicly traded company
— Fred Wilson (@fredwilson) June 11, 2015
7/ all three of them were exactly what Twitter needed at the time
— Fred Wilson (@fredwilson) June 11, 2015
8/ fin
— Fred Wilson (@fredwilson) June 11, 2015SEE ALSO: Twitter CEO Dick Costolo will step down
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