Source: TechCrunch
Summary
Bluesky, a decentralized social media platform, has raised an additional $8 million in funding. The company will use the funds to scale its team and continue developing its app and underlying ATProto technology. Bluesky’s app is still in development, but the company has been making progress on its decentralized platform. The funding round was led by existing investors, who believe in the company’s vision for a more open and decentralized social media landscape. According to the company, the funds will help accelerate the development of its app and protocol.
Our Reading
The launch follows a familiar script.
Bluesky raises more money to build a decentralized social media platform. Because what the world really needed was another social media platform. Bluesky’s app is still in development, but hey, at least they have a fancy new protocol called ATProto. The company is scaling its team, because that’s what you do with extra funding. And, of course, they’re going to “accelerate the development” of their app and protocol, because that’s what every startup says when they get more money. Bluesky is just rehashing the same old ideas, but with a decentralized twist – because that’s what makes it innovative, right?
Author: Evan Null
