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09:10 AM June 29th, 2011

June 29th, 2011 09:10 AM

WASHINGTON – Twitter co-founder Biz Stone announced Tuesday he was scaling back his involvement in the micro-blogging company to concentrate on a new venture.

The 37-year-old said in a post on his personal blog that he was relaunching The Obvious Corporation, the company that spawned Twitter, with fellow Twitter co-founder Evan Williams and a former Google colleague, Jason Goldman.

“Our plan is to develop new projects and work on solving big problems aligned along a simple mission statement: The Obvious Corporation develops systems that help people work together to improve the world,” Stone said.

Williams, who stepped down as Twitter’s chief executive last year, already announced in March that he was reducing his role at Twitter. He remains on Twitter’s board of directors but is not involved in day-to-day affairs.

Stone, who founded Twitter in 2006 with Williams and Jack Dorsey, said he will “continue to work with (Twitter) for many years to come.”

But, he added, “I’ve decided that the most effective use of my time is to get out of the way until I’m called upon to be of some specific use.

“I’ll still commit part of my time to hands on help with Twitter wherever and whenever I can be of assistance,” Stone continued.

In a message on The Obvious Corporation’s website, Stone, Williams and Goldman said they were not ready to divulge details about their upcoming projects.

“We’re are not ready to discuss specifics except to say that our thesis is building systems that help people work together to improve their lives and the world,” they said.

They also said they were looking for engineers, designers and a “few multi-talented business people.”

Twitter is currently led by Dick Costolo, who replaced Williams as chief executive in October of last year, and Dorsey, who returned to the company in March as executive chairman to head its product team.

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