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The Quiet Death of Ello’s Big Dreams

VC funding will eventually require a return, which means an IPO or acquisition. In lieu of that, investors – who buy a place on the board – need to extract money from the company in ways that the founders may or may not agree with.

In time, given more money and more pressure, they would be inclined to do something the community, or even the original founders, didn’t want to do.

Ello ended up selling its user data to another company, and then just stopped working.

Incidentally, the concept of a PBC (Public Benefit Corporation) seems patently absurd. You don’t have to be a socialist to appreciate that for-profit and for-a-social-good are different aims. Often not-for-profits struggle with social good.

Anyway, this all seems familiar. Arc, anyone?