(The Verge) Decentralized social network Mastodon has announced plans to transfer its ownership to a new nonprofit entity. Ownership of Mastodon will move away from the control of CEO Eugen Rochko, in contrast to the power exerted by other social media CEOs like Meta cofounder Mark Zuckerberg and X owner Elon Musk.
“Simply, we are going to transfer ownership of key Mastodon ecosystem and platform components to a new nonprofit organization,” Mastodon says in a blog post, “affirming the intent that Mastodon should not be owned or controlled by a single individual.”
Rochko, who founded Mastodon in 2016, will take on a new role with a focus on product strategy while ownership moves to a new not-for-profit entity based somewhere in Europe, with the exact location still to be finalized. The organization is currently headquartered in Germany, where it was a nonprofit until its charitable status was stripped last year. This move is a way of restoring Rochko’s original intent for Mastodon.
Read more here.