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.
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.
The platform covers e entire enterprise technology space- including emerging technologies like RPA, AI, cloud, automation, and the entire gamut of digital transformation tools, strategies and management decisions.
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