Bluesky don show $100M Series B and AT Protocol don grow reach 43M users
Bluesky don reveal one $100M Series B wey dem never announce before, Bain Capital Crypto lead am, dem close am for April 2025 but dem announce am now during leadership change. Other investors include Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and the Knight Foundation. Bluesky no give updated valuation. With this disclosure, total disclosed funding roughly reach $123M after the $15M Series A (Oct 2024) and $8M seed (2023).
Leadership change: CEO Jay Graber step down to become Chief Innovation Officer, Toni Schneider take over as interim CEO while the board dey find permanent replacement.
Traction update: Bluesky talk say their user base don grow from 13M to over 43M since the Series A. Dem also report say AT Protocol dey expand beyond the core Bluesky client, with apps like Skylight, Flashes, Surf, and Blacksky.
For crypto traders, this mainly mean signal about Web3 infrastructure and decentralized protocol ecosystem linked to Bluesky and AT Protocol growth story. No valuation provide, and no crypto token or direct asset explicitly linked to the news, so e no too likely to give direct price catalyst.
Neutral
Di message get small direct price impact for market because na im focus na e say funding disclosure for tech and ecosystem level, no be any clear token catalyst wey tie to Bluesky or AT Protocol. Short term, traders fit see am as 'Web3 infrastructure dey expand' narrative, wey fit bring small positive sentiment; but because valuation dey miss and no details on token/ancillary products, e hard to form strong tradable driver. Long term, if AT Protocol continue expand and bring more apps and user engagement, e fit strengthen industry expectations for decentralized social/identity infrastructure; however price transmission still depend on whether there is any associable token economy or future token policy info. So overall e lean more neutral.