Bluesky raises $15M Series A, plans to launch subscriptions
Bluesky raised $15 million in Series A funding, growing its user base to 13 million. The app focuses on decentralization, plans a subscription model, and avoids "pay-to-win" features.
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Bluesky, a decentralized social media app, has successfully raised $15 million in a Series A funding round, following an $8 million seed round last year. The funding comes amid a surge in user growth, particularly from users of X (formerly Twitter) dissatisfied with recent platform changes. Bluesky's user base has expanded to approximately 13 million, with 3 million new users added in the past month. Originally incubated within Twitter under Jack Dorsey's vision, Bluesky operates independently now, focusing on decentralization through its open-source AT Protocol. The company plans to invest in community support, Trust and Safety, and the developer ecosystem while also developing a subscription model for enhanced features. Unlike X, Bluesky aims to avoid "pay-to-win" features that prioritize visibility for paying users. The Series A round was led by Blockchain Capital, with assurances that Bluesky will not pivot to web3 or utilize blockchain technology in its operations. CEO Jay Graber emphasized that the platform's technology should enhance user experience rather than detract from it. Kinjal Shah from Blockchain Capital will join Bluesky's board to support its growth.
- Bluesky raised $15 million in Series A funding, expanding its user base to 13 million.
- The app aims to develop a subscription model without "pay-to-win" features.
- Bluesky operates independently from Twitter, focusing on decentralization and user empowerment.
- The funding round was led by Blockchain Capital, with no plans to pivot to web3.
- CEO Jay Graber emphasizes enhancing user experience through technology.
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