Jack Dorsey, the co-founder of Twitter and founder of Square, has joined Disney's board of directors.

The Walt Disney Company announced, Monday, that it has elected Jack Dorsey as an independent director from immediate effect.

"Jack Dorsey is a talented entrepreneur who has helped create groundbreaking new businesses in the social media and commerce spaces," said Robert A. Iger, Disney's chairman and chief executive officer. "The perspective he brings to Disney and its Board is extremely valuable, given our strategic priorities, which include utilizing the latest technologies and platforms to reach more people and to enhance the relationship we have with our customers."

Dorsey is regarded as one of the best-known executives in the technology space and also in the startup world. Dorsey co-founded Twitter, which is already being used by millions of customers worldwide.

Dorsey also founded the mobile payments company Square in 2009, which is growing at a rapid pace. Rumors also indicate that the company may go public as soon as 2014.

The entrepreneur, who was in the news recently for giving back 10 percent of Square shares he owned, to the company, took the opportunity to show his appreciation to Disney for making him a director.

"I am honored and humbled to join the Disney Board," said Dorsey. "Disney is a timeless company, one we all grow up learning from and admiring."

Dorsey is not the only Silicon Valley face to join Disney's board of directors. The company's board also includes Facebook COO Sheryl Sandberg and BlackBerry CEO John S. Chen. The late Steve Jobs, co-founder and former CEO of Apple, was also a member of the board of directors in Disney until his death in 2011.

After the official announcement from Disney, Dorsey took to Twitter and tweeted a quote from Walt Disney.

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