06/28/2011 04:57 pm ET Updated Aug 28, 2011

Biz Stone Leaving: Twitter Co-Founder To Relaunch Obvious Corporation

Twitter co-founder Biz Stone has announced on his blog that he will be departing the microblogging site.

The 37-year-old entrepreneur will be moving on from the company just 5 years after its launch. He will not be cutting all ties with Twitter, however, and noted in his blog that he aims to remain a "strategic asset to Twitter" and will still "commit part of my time to hands on help with Twitter wherever and whenever I can be of assistance."

While the exact reasoning for his departure seems a bit unclear at the moment, the blog post this afternoon suggested a bit of a disconnect with the company at large. Stone wrote,

During this time—especially lately, it has come to my attention that the Twitter crew and its leadership team have grown incredibly productive. 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.

Stone's departure comes in the midst of a bit of turbulent time for Twitter. According to a recent Fortune article, there has been a bit of internal trouble at the social networking site for some time.

As for what he plans to do next, Stone also announced that he and fellow Twitter co-founder Evan Williams will be relaunching Twitter's once-parent company, The Obvious Corporation.

From his blog post:

As for the bulk of my time day-to-day, I'm thrilled to announce that Evan Williams, Jason Goldman and myself will be relaunching The Obvious Corporation as co-founders. 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. This is a dream come true!