Bluesky Reveals Massive Hidden Investment

[mastodonmigration@mastodon.online]

Here is the TechCruch article on the announcement:

"Social network Bluesky is gearing up for big changes with today’s news that the company raised $100 million in Series B funding. The round, led by Bain Capital Crypto, was closed in April 2025 but had not been disclosed until now."

Bluesky announces $100M Series B after CEO transition | TechCrunch

The additional funds have been used to scale Bluesky's team, while the company continues to develop Bluesky's app and the underlying ATProto that powers it.

TechCrunch (techcrunch.com)

[mastodonmigration@mastodon.online]

More from the TechCrunch article:

"The addition of another crypto-oriented VC firm may give some Bluesky users pause, however, especially since, so far, the company has not integrated cryptocurrencies into its offering..."

"As Graber once told Wired in an interview, “the term Web3 got very associated with cryptocurrency, so it’s not a good word to use for what we’re doing..."

[cold@gunbark.dev]

@mastodonmigration surprise surprise!

a $100M funding round also strongly implies there was a pitch that there was a feasible path to Bluesky being a billion dollar company

presumably the lack of progress on revenue in the last year is why Jay's out

[nazokiyoubinbou@urusai.social]

@mastodonmigration I truly can't understand why so many are so willing to trust Bluesky to not be exactly like the things they left for exactly the reasons they left those things...

As far as I could ever see, right from day one it was built to just be the thing that takes people from those so it can do the same thing all over again... Like that was its clear goal...

So it will just hurt them and then something else, say Greensky, will pop up and they'll go to that and it will just do the same thing.

[mastodonmigration@mastodon.online]

So, now that has been revealed that a secret VC cabal does in fact own Bluesky, let's ask how on earth they plan to recoup an investment of over $125M.

It is simply not possible to do so out of revenue. The company has no revenue and little prospect of earning money.

The only real asset that Bluesky has is their user base comprised of the nation's foremost liberals and progressives...

Mastodon Migration (@mastodonmigration@mastodon.online)

Attached: 1 image @benroyce@mastodon.social @ikuturso@mastodon.social It is an interesting situation. The entire value of #Bluesky is that they have corralled all the libs who are pretty hostile to this administration, and yet it appears that the crypto bro ownership is quite friendly with the oligarchy. So, what is the play? A suspicious mind might think they are up to something...

Mastodon (mastodon.online)

[suzannealdrich@hachyderm.io]

@mastodonmigration there is no way this doesn’t end in some kind of crypto/AI grift

[thematic@mastodon.green]

@mastodonmigration Broken telephone –game, driven by machines, of course, all over again.

[mastodonmigration@mastodon.online]

@suzannealdrich

Feel like it is more likely that influencing the midterms through algorithmic manipulation of their users is more what they are up to.

[elleaster@ohai.social]

@mastodonmigration and they'll be so pleased they got an early invite

[numodular@c.im]

@mastodonmigration Short of making #BehavioralScience #CoreEducation, the more this K-economy will collapse all but the wealthiest Capitalists.

[pg1958@mastodon.sdf.org]

@suzannealdrich @mastodonmigration well, I'll tell you how it ends for me. I'm out, no telling what info they are harvesting from us so I'm dumping my butterfly account right now. Good luck all!