American billionaire Jack Dorsey continues to develop his Bluesky social network with an $8 million seed financing round. This announcement comes at a time of increasing competition, notably from Meta’s Threads platform.
Financing to improve services
Bluesky’s fundraising was led by Neo, a community-led venture with several partners including Ali Partovi, co-founder of code.org, and Suzanne Xie, former product director at Twitter. This funding will enable Bluesky to accelerate its development and improve its services. At the same time, Bluesky is now offering a fee-based service in partnership with Namecheap, providing personalized domains.
The future without advertising
Unlike other social networks, Bluesky does not wish to opt for an advertising-based model. In order to guarantee the sustainability of its business model, the company is introducing its first paid service, while continuing to offer a free service accessible to all.
Bluesky and the competition
There’s no shortage of competitors to Bluesky, particularly with Meta’s recent opening of Threads. However, the decentralized social network backed by Jack Dorsey stands out for its innovative technology and clear, fluid interface.
- Bluesky is an open source service that puts users first.
- The social network relies on decentralization to guarantee better data security and confidentiality.
A constantly evolving platform
Since its beta launch earlier this year, Bluesky has continued to evolve. Currently accessible by invitation only, the social network will continue to add new features over the coming months. By raising nearly 8 million dollars, Bluesky has demonstrated its appeal to investors, and intends to play a major role in the decentralized social networking market.
A promising future
Thanks to this round of funding, Bluesky now has the resources it needs to pursue its expansion and position itself as a credible alternative to the giants of the sector. The company’s decentralization technology is of great interest to investors, who see Bluesky as a genuine innovation in the world of social networking.
International ambitions
Bluesky’s founders aim to make their social network accessible worldwide, and to federate an ever-growing community of users. This round of funding will enable them to expand their global presence. Bluesky’s $8 million round of funding bears witness to investors’ confidence in this ambitious project led by Jack Dorsey. By offering a decentralized alternative to traditional social networks, Bluesky is part of a dynamic of innovation and respect for personal data. This round of funding could well mark a turning point for the social network, which now has the resources to match its ambitions.
