Mastodawn

Bluesky Reveals Massive Hidden Investment

Today #Bluesky revealed that in April 2025 they received a whopping $100M venture capital investment lead by Bain Capital Crypto and that they KEPT IT A SECRET.

https://bsky.social/about/blog/03-19-2026-series-b

So the answer to the big mystery Who Owns Bluesky? (https://mastodon.online/@mastodonmigration/116025246450023071) is finally out. Crypto VCs.

Now, we should be asking why did this company that prides itself on transparency and "decentralization" decide they needed to hide who owned the company?

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Mastodon Migration Mar 19

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."

https://techcrunch.com/2026/03/19/bluesky-announces-100m-series-b-after-ceo-transition/

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

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Jan Wildeboer 😷

Mar 19

@mastodonmigration So they are sitting on $100M since almost a year and did more or less nothing with it to grow their business? OK, I guess ...

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ikuturso 🇪🇺

@jwildeboer yeah, raises some eyebrows especially since they've been in decline... wonder what they've been keeping the warchest for and if they'll start spending now with new leadership...

@mastodonmigration