So #bluesky is raising more money, according to Business Insider.
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So #bluesky is raising more money, according to Business Insider.
They say valuation is around $700m, which at, say, 10m MAU values them at $70/user. Which is about in the commercial social media platform ballpark.
It also means that every one of you/us with a Bluesky account is expected to make at least $70 in profit for the company.
X competitor Bluesky is being valued at around $700 million in a new funding round after explosive growth in the wake of Trump's victory
Bluesky is raising new funding led by Bain Capital Ventures that would value the social media company at around $700 million, according to sources.
Business Insider (www.businessinsider.com)
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@j12t is that in addition to the money already raised or the total evaluation?
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@oblomov The 700m is the rumored valuation, it has nothing to do with the amounts of money raised.
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@j12t the most important thing is that the alternatives to closed, toxic social networks survive and the entire space becomes an exciting place for innovation, attracting people and investment. we won't eliminate the walled gardens by fighting success of people and businesses in the open social web. good news: we have choices. if platforms and protocols that give us those choices die, we're in real trouble.
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@j12t one last comment: making money doesn't always mean "off of your engagement"... there are subscriptions, pro-features, rev-sharing, commerce, and many other models that can support a business. i wouldn't jump to the conclusion that this world will be the same as the legacy social networks.
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Hi @marci , as you probably know, I’m perfectly fine with organizations making a profit from delivering a product to their customers that they consider valuable. In fact, I think the ActivityPub fediverse would be in better shape if more projects were able to do that. What’s remarkable about the number is that some people — like Bluesky and their investors — think there is $70 per user to be made in profit even if protocols are open / without traditional lock-in.
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@j12t was there an explicit goal of $70/user stated? Lines are never that straight when it comes to valuations, it’s almost always a mix of assumptions. For ex: subscribers can be more valuable than ad eyeballs, pro-tools can diversify revenue, more loyalty from email reach, etc. I’d be surprised if that simple math was actually how BlueSky is thinking about monetization. But to be clear, I really don’t know.
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Mastodon Migrationreplied to Johannes Ernst last edited by
This has nothing to do with any business metrics, which will never justify this valuation.
The only answer is that Bluesky is selling it's position as the refuge for progressive social media. Herding progressive and resistance voices into a space that can be controlled, and even shut off at the next critical moment, like the next election. This is priceless.
Control of the information space is where social media now derives valuation.
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@marci I just simply divided the rumored valuation by the MAUs. So far, they don’t really have a business model, so this is a pre-revenue valuation. I guess we are all curious what revenue model they will come up with, and how that relates to the publicly stated values of the company.
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