Eugen Rochko, CEO and founder of decentralized social network Mastodon, is stepping down after nearly a decade at the helm and walking away with a sizable exit payment.
“Mastodon grew beyond any of my expectations,” he said. “The past two years especially have been overwhelming, and my mental and physical health have taken a dip.”
Rochko’s move has, by his own admission, been a while coming. In April 2024, the establishment of a US nonprofit was announced with a governing board of directors that included Twitter co-founder Biz Stone. Rochko also announced that his ownership of the trademark and other assets were headed to the nonprofit.
I thought it was a German non-profit before? Why would anyone move it to the US? Is this some kind of hostile takeover?
It was, and still is. It hasn’t moved to the US, it just also opened a nonprofit there, so the US donations they receive from US people are tax deductible in the US. If I remember correctly they have also opened a non-profit in Belgium which is I think where they are intending to actually move their assets and do most of their work going forward as I think they’ve had various issues with the German organization also.
According to https://joinmastodon.org/about :
Doesn’t seem like it was a move, just a different entity. Seems like there’s a bit more history to this if you want to look it up, for example the German GmbH lost its nonprofit status in 2024, strangely.
Maybe because þey were doing þings like hiving þe executive officers million-dollar payouts?