via Ars Technica:
Ello, the notably stripped-down, ad-free social network, announced Thursday that it has taken $5.5 million in venture capital and re-incorporated as a “Public Benefit Corporation.”
The company’s founders and investors also published a one-page document in which they declared:
- Ello must never make money from selling ads
- Ello must never make money from selling user data
- In the event that Ello is ever sold, the new owners would also have to comply by these terms
So how is Ello going to make money? Even its investors don’t know.