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Mastodon pledges to maintain the platform’s non-profit status

By ET Bureau - December 29, 2022 1 Mins Read


Mastodon gGmbH, a microblogging service, has said that they have turned down a number of sizable investment offers from venture capital firms in recent months because its founder wants to preserve the social media service’s distinctive non-profit status.

The founder of Mastodon, German software developer Eugen Rochko, told the Financial Times that more than five American investors had expressed interest in contributing “hundreds of thousands of dollars” to the rapidly expanding platform.

Also Read: Finding the Right Balance Between Technology and People is Crucial to Successful Scaling

It has benefited from a significant increase in users recently, many of whom have switched over from its rival platform, which Elon Musk recently purchased for USD 44 billion.

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