Twitter rival Mastodon has rejected more than five investment offers from Silicon Valley venture capital firms in recent months, as its founder pledged to protect the fast-growing social media platform’s non-profit status.
Mastodon, an open-source microblogging site founded in 2016 by German software developer Eugen Rochko, has seen a surge in users since Elon Musk bought Twitter for $44 billion in October amid concerns over the billionaire’s running of the social media platform.
Rochko told the Financial Times he had received offers from more than five US-based investors to invest “hundreds of thousands of dollars” in backing the product, following its fast growth.
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