Ello Says Hello to $5.5 Million, Legally Vows to Not to Advertise

By Todd Wasserman


Ello, the fledgling social network that has vowed not to run advertising, doubled down on that sentiment on Thursday by making itself a Public Benefit Corporation and putting the sentiment in its charter.

A PBC’s charter can’t be changed even if the company is bought and investors can’t force the company to do something that goes against its charter. “It says that the co. exists for public benefit,” says Paul Budnitz, CEO and co-founder of Ello. “No investor could ever force us to do those things.” Other well-known PBCs include Patagonia, Warby Parker and King Arthur Flour

See also: …

More about Business and Ello

…read more

Leave a Reply

Your email address will not be published.