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Twitter Rival Mastodon Rejects Funding

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In recent months, Mastodon, Twitter's rival, has turned down more than five investment offers from Silicon Valley venture capital companies. 

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Its founder promised to preserve the nonprofit status of the social media platform.

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Mastodon, an open-source microblogging platform, was founded by Eugen Rochko in 2016. 

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This comes amid concerns about Elon Musk's management of Twitter.

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Rochko told the Financial Times that he had received offers from five US-based investors for "hundreds and thousands of dollars" to support the product's rapid growth.

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He said that the platform's nonprofit status was "untouchable," adding that 

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Mastodon's independence and the option of moderation across its servers were part and parcel of its appeal.

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Rochko stated that Mastodon wouldn't become everything you hate about Twitter. 

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Its ability to be sold to controversial billionaires, its ability to be shut down and declared bankrupt, and other factors.

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