- cross-posted to:
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- cross-posted to:
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It was for profit?
They previously had a pretty unique structure (gemeinnützige GmbH) but the german authorities stripped them from that status saying “free social media is not a public benefit purpose”.
This is exciting for Mastodon’s user, I’m sure.
See also this comment in the other thread: https://lemmy.world/comment/14448522
Is this similar to what Proton did?
Is the money getting what it wants or is this making sure the money is quieter? I don’t understand.
Last year, the company formed a U.S.-based non-profit to get more funds and grants with Twitter co-founder Biz Stone on the board. At the same time, the organization lost its non-profit status in Germany at the same time.
While Mastodon relies on donations and sponsorships to operate, Bluesky, its main competitor working on a rival decentralized network, is reportedly raising a new funding round from investors at a $700 million valuation.
The blog post noted that the new Europe-based non-profit entity will wholly own the Mastodon GmbH for-profit entity. The organization is in the process of finalizing the place where the new entity will be set up.
OpenAI’s events of last year has me just slightly less than impressed at the ability of a non-profit board/org to be able to contain/control the wild efforts of capital when it matters.
