The encrypted messaging app has seen some big changes in recent months. This funding was used to establish the Signal Foundation, a non-profit dedicated to developing open-source privacy tech for communications.Īcton has been executive chair for the Signal Foundation since 2018 and stepped in as Signal interim CEO in January, when its creator Moxie Marlinspike stepped down from the role. It got a boost in 2018 with $50m in funding from WhatsApp co-founder Brian Acton. Now Dorsey is backing Signal, which was founded in 2014 as a free end-to-end encrypted messaging service and has proven popular among users who prioritise privacy. He said this was “my fault alone”, as he stopped pushing for these principles when “an activist entered our stock in 2020”. In his blogpost, the platform co-founder was critical of Twitter under his leadership and “the Twitter of today”, saying that it did not meet any of the principles he listed. “Allowing a government or a few corporations to own the public conversation is a path towards centralised control,” he added.ĭorsey stepped down as Twitter CEO in November 2021, nearly a year before Elon Musk took over the company.
He said social media should not be “owned by a single company or group of companies” and needs to be “resilient to corporate and government influence”. He said the grants will begin next week and has asked for feedback on “other great candidates”.ĭorsey made the announcement in a blogpost yesterday (13 December), where he shared his principles about social media.
These will include cash and equity grants, with an initial focus towards engineering teams working on social media and private communication protocols, bitcoin and a web-only mobile OS.
#Who owns signal app stock series
This is the first in a series of new grants planned by the tech entrepreneur, who said he wants to support “open internet development”. Twitter co-founder Jack Dorsey is planning to give a $1m annual grant to encrypted messaging app Signal. Dorsey said he is planning a series of grants to support ‘open internet development’, adding that Twitter has failed to meet his social media principles.
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