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So, to summarize what we've learned on the second day of trying to figure out:

Who actually owns #Bluesky?

The company represents that Jay Graber and the employees own Bluesky. This is misleading. In actuality, Bluesky has a host of Tech VC shareholders (accessipos.com/bluesky-stock-i…) and is about to get more in a stunning funding round led by Bain Capital valuing the company at $700M (businessinsider.com/x-competit…).

So who are the current owners of Bluesky? Read on...

accessipos.com/bluesky-stock-i…

X competitor Bluesky's valuation jumps to around $700 million

Bluesky is raising new funding led by Bain Capital Ventures that would value the social media company at around $700 million, according to sources.
Ben Bergman (Business Insider)
#bluesky
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Back in 2023: Bob Young (Red Hat), Amjad Masad (Replit), Heather Meeker, Jeremy Johnson, Outset Capital, Mana Industries, Automattic, Protocol Labs, Katelyn Donnelly, Ali Evans, Stav Erez, Brad Fitzpatrick, Atlas Benjelloun, and Abdul Ly.

Earlier this year: Blockchain Capital, Alumni Ventures, True Ventures, SevenX, Amir Shevat (Darkmode Ventures), and Joe Beda (Kubernetes).

The list is a who's who in tech with ties to all the principle edgelords.

That's who owns Bluesky.

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What we still don't know about who owns #Bluesky is what the percentage ownership of each entity is. Nor do we know if there are different classes of stock. We also do not know if there are any overhanging equity obligations like convertable debt or warrants. And we don't know if there are any obligations to founder Jack Dorsey, and if so, in what form.
#bluesky
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@cryptadamist

But we just don't know.

One very troubling thing is their representation that the company is owned by Jay Graber and the employees.

It is not clear how many of the progressive voices flocking there, and establishing the basis for the current astronomical valuation, would have done so had they known who actually owned the company.

@⚯ Michel de Cryptadamus ⚯
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D2

@mackuba ‘we don’t know’ differs from ‘we’re uncertain how much’. We have a list. And we know Bain and the other names claim some vast ownership majority, vs. a likely tiny fraction for employees. Are we sure? Yeah, since there’s no way oligarchs care if they aren’t promised billions.
@Kuba Suder • @mackuba.eu on 🦋
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@mackuba @cascheranno

"From what the team has been saying..." is doing a lot of work here.

The point is the what they have been saying is deliberately obtuse, so we really have no idea, and have every reason to be suspect. If they wanted to be transparent and trustworthy all they need to do is be transparent and forthcoming.

@Kuba Suder • @mackuba.eu on 🦋 @D2
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@mackuba @cascheranno

Everyone has seen that statement and it is simply not believable. Or, at the very least, it is a carefully worded statement that leads to deliberate misconceptions.

Rather than issue crytic statements like this, they could just publish the ownership interests of all shareholders, and identify any convertable loans and/or warrants.

They could do that instead of being so cute.

@Kuba Suder • @mackuba.eu on 🦋 @D2
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