investors supply Ello $5.5 Million Even After It Bans Its most evident revenue source

Ello made the abnormal move on Thursday of solidifying that promise in a criminal way via changing into a “public benefit corporation.” Its constitution forbids the company from selling advertisements or consumer information and, in the adventure Ello is acquired, would force the new owners to abide by this same rule. The announcement brings the query of how Ello plans to become profitable even further into the foreground. Ello says it’ll cost customers for add-ons and modifications in its app, the best way that Apple’s app store works, however some are skeptical which is achievable. “Would people like a less intrusive social network than facebook? in fact they’d,” Harvard business college professor John Deighton not too long ago told Forbes. “Do they need it enough to pay for it? more than likely now not, so long as there is a giant international neighborhood (fb), with one billion monthly energetic contributors, including that prime school exchange scholar who they lost touch with once they went back to Bolivia. And that one’s free.” but, Ello clearly has earned some believers within the trade world. On the identical day it solidified its ad-free mission, it introduced $5.5 million in financing from the Foundry staff, Bullet Time Ventures, and FreshTracks Capital.