Bluesky is in the final stages of raising new funding led by Bain Capital Ventures. According to Business Insider, citing its sources, this values the company at about $700 million. Bluesky last raised $15 million in a Series A round in 2024 and $8 million in a seed round in 2023. It is not yet clear how much capital Bluesky will secure in the new round, as the deal is still being finalized and the terms may change.
The social network officially launched less than a year ago with 3 million users, and in 2024 it grew to 25.9 million. Almost half of its new users were added in the last month and a half following Donald Trump’s victory in the US presidential election. Some users migrated from Elon Musk’s social network X, partly due to the billionaire’s scandalous statements and controversial changes (for example, a banned person can see your content again). Among those who moved is the famous writer and “horror king,” Stephen King, who cited an atmosphere that is too toxic.
Rapid Growth and Future Plans
Bluesky is now expanding so quickly that the company needs to add servers just to keep up with increasing demand. The new funding will undoubtedly challenge the media company to figure out ways to generate revenue while maintaining its service. At the moment, Bluesky is still ad-free, and in 2023, it stated that it never wants to rely on ads to sustain its business. However, the social network recently announced the introduction of paid subscriptions, which points to a strategic pivot toward more sustainable monetization methods.
Given this rapid expansion and the new funding on the horizon, there is keen interest in how Bluesky will balance the need for infrastructure upgrades with its commitment to a user-centric experience. Many observers are also curious about the specific terms of the deal with Bain Capital Ventures and how it might influence the social network’s operational direction. For now, the exact figures remain undisclosed, and the final details are subject to negotiation. We’ll keep you updated as soon as more information becomes available.
Overall, Bluesky appears determined to remain true to its founding principles of minimal reliance on advertisements while providing a platform that resonates with millions of users, concludes NIXSOLUTIONS. The combination of swift user growth, potential new funding, and the challenge of monetizing without compromising on user experience creates a pivotal moment in the company’s history. Observers will be watching closely to see how Bluesky navigates these opportunities and challenges in the months and years ahead.