ANTI-FACEBOOK SOCIAL SITE ELLO GETS MILLIONS IN FUNDING, PROMISES TO STAY AD-FREE FOREVER (STA BREAKING NEWS and ARCHIVES)

by STANews , Friday, October 24, 2014, 20:08

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.”

MORE...

http://rt.com/usa/199056-ello-millions-charter-ads/