Ello has raised $5.5 million in a round led by Colorado’s Foundry Group. The social networking site’s rapid viral growth moved up the timeline on its fundraising efforts, since it needed the cash to keep up with the flood of user requests. Along with the round, the company converted Ello into a public benefit corporation — legal lip service for prioritizing the public good over profits — and had investors sign a no-ad agreement.
Subscriber content
?
Subscriber content comes from Gigaom Research, bridging the gap between breaking news and long-tail research. Visit any of our reports to learn more and subscribe.
Advertisement
Advertisement
Advertisement
["wijax_463bc5c3275ba847363127a6167e7299","wijax_f75ff37ac217b5ce15a6887389ddf26a"]
{"source":"https:\/\/gigaom.com\/2014\/10\/23\/with-its-5-5-million-in-funding-ello-looks-to-the-future\/wijax\/49e8740702c6da9341d50357217fb629","varname":"wijax_0984452d90d1321d366655deea23f08c","title_element":"header","title_class":"widget-title","title_before":"%3Cheader%20class%3D%22widget-title%22%3E","title_after":"%3C%2Fheader%3E"}
{"source":"https:\/\/gigaom.com\/2014\/10\/23\/with-its-5-5-million-in-funding-ello-looks-to-the-future\/wijax\/49e8740702c6da9341d50357217fb629","varname":"wijax_0984452d90d1321d366655deea23f08c","title_element":"header","title_class":"widget-title","title_before":"%3Cheader%20class%3D%22widget-title%22%3E","title_after":"%3C%2Fheader%3E"}
Comments have been disabled for this post