Mastodon announces transition to non-profit structure | TechCrunch
Mastodon announces transition to non-profit structure | TechCrunch
techcrunch.com
Mastodon announces transition to nonprofit structure | TechCrunch
8 comments
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This is exciting for Mastodon's user, I'm sure.
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See also this comment in the other thread: https://lemmy.world/comment/14448522
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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.
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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.
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8 comments
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".
Libre software isn't a public benefit under German law?!?