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Financial Times: "Twitter rival rejects funding to protect non-profit status"

ft.com/content/de808736-2e05-4

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/de808736-2e05-4c3b-a53c-55b170ae9efd Twitter rival Mastodon has rejected more than five investment offers from Silicon Valley venture capital firms in recent months, as its founder pledged to protect the fast-growing social media platform’s non-profit status. Mastodon, an open-source microblogging site founded in 2016 by German software developer Eugen Rochko, has seen a surge in users since Elon Musk bought Twitter for $44bn in October amid concerns over the billionaire’s running of the social media platform. Rochko told the Financial Times he had received offers from more than five US-based investors to invest “hundreds of thousands of dollars” in backing the product, following its fast growth. But he said the platform’s non-profit status was “untouchable”, adding that Mastodon’s independence and the choice of moderation styles across its servers were part of its attraction. “Mastodon will not turn into everything you hate about Twitter,” said Rochko.

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