Twitter rises after return of co-founder Biz Stone

Biz Stone, one of the co-founders of microblogging site Twitter, has returned to the company in its latest attempt to stem the tide of slowing user growth and increased competition.

Twitter's share price was boosted 1.35% to $19.49 by the close on Wall Street on Tuesday as the news of Stone's return became known.

Chief executive and fellow co-founder Jack Dorsey also returned to Twitter two years ago following a departure from the tech firm.

In a blog post released via social media site Medium on Tuesday, Stone confirmed his Twitter return, where he will work alongside Dorsey and chief marketing officer Leslie Barland.

"Jack coming back was a big step forward. And now, it’s my turn — I'm returning to full-time work at Twitter starting in a couple of weeks!” Stone wrote. “I’ll shape the experience internally so it’s also felt outside the company."

"My top focus will be to guide the company culture, that energy, that feeling," he added. "You might even say the job description includes being Biz Stone."

Falling revenues and a slowdown in the pace of Twitter's user growth has worried investors in recent times, although it has gained over 35% in the last month.