Twitter co-founder Biz Stone said to launch mobile startup

Rumor has it that Twitter co-founder Biz Stone is set to announce his newest start-up called Jelly. No one knows what it does, except that it’s something to do with mobile technology.

While it’s not clear exactly what that means, AllThingsD has written that the well-known entrepreneur has already hired four or five employees to form a team on the mystery product that will likely be aimed at smartphones and tablets. The startup is said to be close to launching, though there is no timetable given in the report.

According to Stone has already hired a handful of people to work on the Jelly team.

In 2011, after leaving his day-to-day role at Twitter, Stone and one of his Twitter co-founders, Ev Williams put their attention into Obvious, a small incubator which has startups such as Lift, Branch and Medium in its portfolio.

It’s unclear whether Stone would focus solely on Jelly or continue his role at Obvious, though he wouldn’t be the first Twitter founder to juggle multiple projects at once.