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Bluesky Secures Series A to Fuel 13M+ User Growth

Ed Abbas by Ed Abbas
October 30, 2024
Reading Time: 2 mins read
Bluesky Secures Series A to Fuel 13M+ User Growth

Image Credit: Bluesky

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Bluesky has officially surpassed 13 million users and, to support its rapid growth, announced a $15 million Series A financing round led by Blockchain Capital, with contributions from notable investors including Alumni Ventures, True Ventures, SevenX, and Amir Shevat of Darkmode.

Co-creator of Kubernetes, Joe Beda, also participated in this funding round, underscoring the industry’s confidence in Bluesky’s decentralized vision and open-source social networking protocol, the AT Protocol.

Bluesky’s commitment to user-centered technology aligns well with its lead investor, Blockchain Capital, who shares its focus on preserving user experience without integrating blockchain or cryptocurrency elements into the platform.

As part of this partnership, Kinjal Shah from Blockchain Capital will join Bluesky’s board, supporting the company’s pursuit of a decentralized, user-empowered social ecosystem.

The new funds will fuel developments across Bluesky’s “ATmosphere” developer community, trust and safety initiatives, and even a subscription model for premium features like high-quality video uploads and enhanced profile customizations.

However, the platform emphasizes that subscription users won’t see priority content ranking, ensuring equitable access and visibility across the community.

As Bluesky’s user community expands, the company is also exploring monetization options for its creators, including in-app payment services that allow users to support artists, writers, and other content creators directly.

This effort aligns with Bluesky’s ambition to create a social space that prioritizes creative freedom and consumer choice over financialization.

Bluesky’s technology is open-source, allowing independent developers to build unique apps within the ecosystem, such as Smoke Signal for events, Frontpage as a web forum, and Bluecast for audio content, including licensed karaoke.

Bluesky anticipates that models such as domain registration, creator payments, and subscriptions will further fuel the expansion of this developer ecosystem.

In the past year, Bluesky has gone from a 1 million-user, invite-only app to a global network with a presence in key markets such as the United States, Brazil, Japan, and Germany.

They’ve implemented custom feeds that empower users with algorithmic choice, established over 1,000 independent personal data servers, and introduced features like direct messaging, GIFs, and video support. Bluesky has also prioritized trust and safety, creating tools for labeling, moderation, and anti-harassment, including the open-source moderation tool Ozone.

Partnerships with Buffer and Namecheap further integrate Bluesky into the digital ecosystem, allowing for seamless management and domain acquisition.

Bluesky’s vision of an open social network is a bold challenge to traditional social media, which often restricts independent developers and prioritizes content for profit rather than user choice. By reintroducing transparency and flexibility, Bluesky is positioning itself as a platform of empowerment, offering marketers and users alike a fresh perspective on social media’s future.

Tags: Alumni VenturesBlockchain CapitalBlueskyDarkmode VenturesSevenXTrue Ventures

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