this post was submitted on 13 Jan 2025
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Mastodon announces transition to non-profit structure | TechCrunch (techcrunch.com)
submitted 2 days ago by otter@lemmy.ca to c/fediverse@lemmy.world
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[โ€“] pelespirit@sh.itjust.works 5 points 2 days ago (1 children)

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.

[โ€“] pdxfed@lemmy.world 8 points 2 days ago

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.