Mastodawn

Can you imagine Mastodon raising 100 MILLION dollars from a crypto VC fund and failing to disclose it... for a full year? No I can't either.

And from their actual press release: "The Atmosphere currently contains about 20 billion public records—the posts, likes, comments and other interactions that bring the ecosystem to life. It's an astonishing collection of what open social infrastructure makes possible."

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

How I read it: data harvesting at its finest 💁‍♀️

#Bluesky

Bluesky's 2025 $100M Series B Lays Foundation for Open Social Web - Bluesky

In April 2025, Bluesky raised $100 million in Series B funding led by Bain Capital Crypto. Since our Series A, we've grown from 13 million to over 43 million global users.

Bluesky

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Elena Rossini ⁂Mar 20

Mike Masnick, who sits on the board of #Bluesky, claims the team was too busy to announce the series B funding (see screenshot).

But something is fishy.

Even the VC firm - Bain Capital Crypto - isn't listing Bluesky anywhere on their website: https://baincapitalcrypto.com/portfolio/

Why the mystery? Was Bluesky afraid of a public backlash & asked to keep the information under wraps?

Sorry if I keep repeating myself but I will forever be skeptical of Bluesky and think of the tale of the scorpion and the frog.

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Androcat

@_elena Bain probably requested the blackout so the targets wouldn't suspect...

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jandi Mar 20

@androcat @_elena Yes, because the pre-IPO assessments said: "Platform users, many of whom were disappointed in the 2024 election outcome, may scoff at the idea of a Bluesky IPO, believing profit-driven decisions led to the usability issues at X and Threads (namely, link throttling, excessive low-quality ads, and algorithm annoyances)"*.

They want number go up, you know, to the moon.

* https://accessipos.com/bluesky-stock-ipo/

Bluesky Stock: Who Owns Bluesky, and Will it IPO?

Explore opportunities to own Bluesky stock before the Bluesky IPO. Follow along as the startup grows into a public company.

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