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Mastodon announces transition to nonprofit structure

Decentralized social network organization Mastodon said Monday that it is planning to create a new nonprofit organization in Europe and hand over

While exact details are yet to be finalized, this means that Mastodon’s current CEO and creator, Eugen Rochko, will hand over management bits of the organization to the new entity and focus on the product strategy. “When founder Eugen Rochko started working on Mastodon, his focus was on creating the code and conditions for the kind of social media he envisioned. While Mastodon relies on donations and sponsorships to operate, Bluesky, its main competitor working on a rival decentralized network, is reportedly raising a new funding round from investors at a $700 million valuation.

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