Ello, the social network that became famous for not having ads and allowing users to use the names they want, has just signed a document to ensure that it complies with its non-publicity word.
This Thursday, the 23rd, the service became a Public Benefit Company, a category of company in the United States that promises to do good to its users. The modality is not exempt from fees or obligations that a normal company would have, however, the company must create material that has a positive impact on society and annually disclose a report of its benefits to the population.
How does the Mashable, by joining the category, the company will not be able to change its status nor be bought and its investors will not be able to change its nature or force it to do something.
The novelty coincides with the recent investment of US $ 5.5 million (about R $ 13.6 million) that Ello received from Foundry Group, Bullet Time Ventures and FreshTracks Capital (the latter had already invested US $ 435 thousand on the social network in March, for your foundation).
According to Paul Budnitz, CEO of Ello, the investment will allow the company to take its own time and also “build instead of running ahead and trying to earn some money”.
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