Twitter rival Mastodon turned down more than five investment offers from Silicon Valley venture capital firms in recent months, as its founder has pledged to keep the fast-growing social media platform non-profit.
Mastodon, an open source microblogging platform founded in 2016 by German software developer Eugen Rochko, has seen an increase in users since Elon Musk purchased Twitter for $44 billion in October amid concerns about the billionaire’s management of the social media platform. Following the product’s rapid growth, Rochko told the Financial Times that he had received offers from more than five US-based investors to invest “hundreds of thousands of dollars” in it.
