Bluesky CEO Jay Graber says X rival is ‘billionaire proof

Bluesky has seen a surge in popularity since the recent presidential election, emerging as a competitor to platforms like Elon Musk's X and Meta's Threads. CEO Jay Graber has warned potential acquirers that Bluesky is designed to be "billionaire proof." In an interview with CNBC’s "Money Movers," Graber explained that Bluesky's open-source design allows users to easily take their followers with them if they leave the platform, ensuring the company cannot be easily bought or dismantled. This approach contrasts with the situation that occurred with Twitter, now X, after Musk's acquisition in 2022.

Bluesky, which now has over 21 million users, is still far smaller than X or Threads. Meta's Threads has about 275 million monthly users, while X is estimated to have 318 million. Bluesky was created in 2019 as a Twitter initiative under Jack Dorsey, later becoming an independent public benefit corporation in 2022. Dorsey is no longer involved with the company, but Graber continues to carry forward the vision of an open-source social network, emphasizing user control and transparency.

Bluesky plans to monetize through subscriptions offering special features, and will also expand its offerings for developers. Graber made it clear that the platform will not pursue a model of algorithmically-driven ads, aiming to avoid forcing ads on users. Bluesky has seen notable growth, including a boost of 2 million users in September after X's suspension in Brazil, and in October, the company raised $15 million in funding, bringing its total funding to $36 million.$COS @Contentos-COS #COSSocialFiRevolution