The owner of the rapidly growing social media app Bluesky has declared the platform is “billionaire proof.”
The platform has gained significant traction since Donald Trump won the Presidency for the second time.
With over 21 million users, Bluesky is emerging as a notable player in the social media landscape.
CEO Jay Graber, however, has a bold message for potential acquirers: “Bluesky is ‘billionaire proof’.”
In an interview with CNBC’s “Money Movers, Graber explained Bluesky’s open design ensures users can leave the platform with all their followers intact.
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This feature is designed to counter acquisition attempts.
He said:
“The billionaire proof is in the way everything is designed.
“If someone bought Bluesky or if the company went under, everything is open source. What happened to Twitter couldn’t happen to us because users could move immediately without starting over.”
Graber’s remarks highlight the exodus from Twitter following Musk’s 2022 acquisition, which led millions to seek alternatives.
Bluesky’s user base, though much smaller than X’s 600 million (per Musk’s May estimate) or Threads’ 275 million (as of October), is rapidly expanding.
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An Open-Source Vision
Founded in 2019 as a Twitter project under Jack Dorsey’s leadership, Bluesky became an independent public benefit corporation in 2022.
Dorsey, who left the board earlier this year, had envisioned a better social media model.
Graber said:
“In 2019, Jack had a vision for something better for social media, and so that’s why he chose me to build this.
“We’re building an open-source social network that’s radically different from anything done before. Nobody has been this open, this transparent, and put this much control in the users’ hands.”
Bluesky’s architecture prioritizes transparency and user control, setting it apart from its rivals.
He added:
“The platform allows users and developers to customize their experience and build upon its framework, fostering a “developer ecosystem.”
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Monetization Without Algorithms
Unlike X and Threads, Bluesky’s monetization model will not rely on algorithmically recommended advertisements.
Graber said:
“We’re not going to build an algorithm that shoves ads at you, locking users in.”
Instead, it plans to offer subscription-based features and expand services for third-party developers.
Bluesky has previously seen growth spikes, including adding 2 million users in September after X faced legal challenges in Brazil.
In October, the company raised $15 million in funding led by Blockchain Capital, bringing its total to $36 million.
The Road Ahead
As Bluesky continues to grow, its “billionaire proof” ethos and commitment to user control position it as a unique alternative in the social media space.
With plans to expand its developer ecosystem and resist traditional ad-based revenue models, Bluesky’s approach could redefine the industry.
