After declaring its intent when it launched roughly a month ago, Ello on Thursday made its ad-free philosophy official by incorporating it into a new company charter. Now converted to a public benefit corporation, the social network has stipulated not only that it will never make money from selling ads or user data, but also that any new owners will have to comply by those terms as well, in the event it’s ever sold.
Ello, viewed as a potentially serious Facebook competitor, reportedly has added $5.5 million in funding to its coffers.
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Ello Sets Its Ad-Free Promise in Stone
Posted by: Katherine Noyes October 23, 2014 03:46 PMAfter declaring its intent when it launched roughly a month ago, Ello on Thursday made its ad-free philosophy official by incorporating it into a new company charter. Now converted to a public benefit corporation, the social network has stipulated not only that it will never make money from selling ads or user data, but also that any new owners will have to comply by those terms as well, in the event it’s ever sold.
Ello, viewed as a potentially serious Facebook competitor, reportedly has added $5.5 million in funding to its coffers.