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 3d ago

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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Mastodon Migration 3d ago

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..."

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Mastodon Migration 3d ago

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...

https://mastodon.online/@mastodonmigration/116201871821753838

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You S Blues 2d ago

@mastodonmigration Hang on, liberals and progressives use BlueSky? Clout chasing is a drug.

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bookandswordblog

@patmikemid Its not just clout chasing. Many people today are open that they have careers in culture because they got on Twitter early and networked there. I think that was and is bad ethics and bad tactics but many of them make more money and get more recognition than I do and the conventional ways of making a living in those fields have dried up too.