Anti-Facebook social site Ello gets millions in funding, promises to stay ad-free forever

Ello, the new social-media site that exploded last month, has raised $5.5 million through investors and says a charter that was recently signed by the company’s executives will see to it that users will continue to be offered an ad-free experience.

After initially guaranteeing users a social media site devoid of paid content and other adverts, Ello’s execs say new measures will make sure that their promise stays in place: the company has not only managed to increase its funding more than ten-times over from an original $450,000, but has also made its founders and investors alike sign a charter prohibiting Ello from selling user data or ads.

“We’re really creating a way to enshrine Ello, legally, as what we intend it to be,” Ello CEO Paul Budnitz told Wired this week. “The bottom line is we’re not going to sell out and no one can make us sell out.”

In a statement dated October 20, the signees of the agreement explain their reasoning:

“Ello’s explosive growth over the last few months proves that there is a hunger to connect with friends and see beautiful things — without being manipulated by ad salesmen, boosted posts and computer algorithms that don’t always have our best interests at heart. On an ad-driven social network, the advertiser is the customer and you’re the product that’s bought and sold,” the memo reads in part.

Read the Full Article: Source – Russia Today

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