@mastodonmigration Ah, Bain. The stories we could tell.

Anyway, just need Mike Masnick to tell us why this is good actually.

@TheGreatLlama

Funny you should ask. Have literally dozens of posts around this topic. Here is the first one back just after the 2024 election.

Mastodon Migration (@mastodonmigration@mastodon.online)

FICTIONAL DATELINE November 2027: Elon Musk Completes Acquisition of Bluesky LLC Musk announced his intention to fold the upstart liberal social media network into his X Empire, shocking Democrats and the progressive social media community that moved en masse to Bluesky three years ago after the disastrous 2024 election. "No one could have seen this coming," agreed top content creators on Bluesky assuring their millions of followers, they would stay and fight to keep Bluesky blue. #Bluesky

Mastodon (mastodon.online)

But, it would make sense for them to spring the trap this year since the midterms are really critical to the future of democracy in the US.

To understand all this better, consider that the Crypto PAC 'Fairshake' spend over $20M in Illinois and $10M of that on a failed attempt to defeat Julianna Stratton. They have over $220M more to spend on influencing the midterms. For these guys the opportunity to achieve some degree of message control over liberal social media is well worth $100M.

How will they do it? Algorithmic manipulation of social media? Quieting critics, amplifying favorable messaging? Has it already begun?

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."

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 (techcrunch.com)

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.

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 (bsky.social)

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?

@mastodonmigration
I mean... I'm pretty sure everyone who moved here and DIDN'T go over to Bluesky saw something like this coming. I remember chuckling about the false exclusivity of the invites. Gotta jerk the lure a bit to get the fish to bite.

@mastodonmigration So they are sitting on $100M since almost a year and did more or less nothing with it to grow their business? OK, I guess ...

@mastodonmigration I left BS (haha) for here full time about a month ago. After some entiled chud told me I was invalid because my "Theory of Victory ️" didn't align with his, I decided that probably wasn't the place for me. Super enjoying this spot though, it actually feels how the web used to in the late 90's. I've missed it...

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.

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 (bsky.social)

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?

@Zebadiah_Carter

I'm glad you're enjoying it here. There's a refreshing anti oligarchy & pro alt text vibe in the Fediverse.

@mastodonmigration

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...

Mastodon Migration (@mastodonmigration@mastodon.online)

Attached: 1 image @benroyce@mastodon.social @ikuturso@mastodon.social It is an interesting situation. The entire value of #Bluesky is that they have corralled all the libs who are pretty hostile to this administration, and yet it appears that the crypto bro ownership is quite friendly with the oligarchy. So, what is the play? A suspicious mind might think they are up to something...

Mastodon (mastodon.online)

@mastodonmigration ID of the VC owners? You’ve been asking the question for a long time so I’m sure you’re gratified to have the answer

@JonChevreau

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 (bsky.social)

@Zebadiah_Carter

I'm glad you're enjoying it here. There's a refreshing anti oligarchy & pro alt text vibe in the Fediverse.

@mastodonmigration

@lawyersgunsnmoney

It is just infuriating that such an underhanded and pretty transparent strategy should work so well. And it is not over by a long shot.

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.

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 (bsky.social)

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?

@mastodonmigration Thanks: odd I didn’t,t learn of this via its own site!

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.

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 (bsky.social)

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?

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.

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 (bsky.social)

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?

@mastodonmigration
BlueSky is a trap!