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Ello Formally Promises To Remain Ad-Free, Raises $5.5M

Posted by timothy on from the now-how-much-would-you-pay? dept.

Social media site Ello is presented as the anti-Facebook, promising an ad-free social network, and that they won't sell private data. Today, they've also announced that Ello has become a Public Benefit Corporation, and that the site's anti-advertising promise has been enshrined in a corporate charter. The BBC reports on the restrictions that Ello has therefore entered into, which mean the site cannot, for monetary gain,
  1. Sell user-specific data to a third party
  2. Enter into an agreement to display paid advertising on behalf of a third party; and
  3. In the event of an acquisition or asset transfer, the Company shall require any acquiring entity to adopt these requirements with respect to the operation of Ello or its assets.

While that might turn off some potential revenue flows (the company says it will make money by selling optional features), as the linked article points out, it hasn't turned off investors; Ello has now raised $5.5 million from investors.

2 of 167 comments (clear)

  1. Wonder if their time hasn't already passed... by IANAAC · · Score: 5, Interesting
    I don't know that many people that have gotten an invite to join, but the ones that have don't really have anything positive to say about it.

    I would imagine it's down to too few people being on it still. There was such initial hype for it, then nothing. How long do you suppose people will wait before just not bothering with it?

    1. Re:Wonder if their time hasn't already passed... by hodet · · Score: 4, Interesting

      Most people don't give a crap about Facebook's privacy policies. I personally don't touch facebook with a 10 ft pole but that is my choice and understand why others keep going there. That makes me about the only person in my family and social circle that does not use it. Stay in touch with the people you care about and you can always connect with them, it just takes effort. I don't know anybody who would move from facebook because people are there already. It's a noble thing to try and create something better. However, if you have ever seen the Personal Power Grid, any company would be in the Ceaselessly Striving box, they are taking action and have no control over the outcome. Most users just do not give a crap and are in the Acceptance (Let It Go) corner.