Bluesky, who rose from Twitter’s ashes, challenged X and Threads.

Important Points

If Bluesky continues to rapidly increase its user base, a significant transformation could be imminent.According to COO Rose Wang. Bluesky has no immediate intentions to launch an internet advertising business. The company is amenable to the concept as long as it doesn’t interfere with business operations.
CEO Jay Graber told CNBC’s “Money Movers” that Blue Sky’s open and decentralized architecture makes the app “billionaire-proof” because users can move their data anywhere at any time.
Bluesky’s COO, Rose Wang.
Thanks to Bluesky
All it needed to introduce Bluesky to millions of people was a high-profile U.S. presidential election.

Since Election Day, the microblogging startup claimed to have added 8.7 million new members. Demonstrating the desire of consumers for an alternative to Meta’s Threads and Elon Musk’s X, formerly known as Twitter. Even though Bluesky is currently dwarfed by these bigger social media sites, the startup has more than 22 million subscribers and isn’t slowing down.

COO Rose Wang told CNBC that although Bluesky’s spike may seem abrupt, the company has been seeing spikes in user growth for over a year.

The week after the Brazilian Supreme Court temporarily stopped X in the nation for failing to designate a local legal representative and for violating the nation’s content-moderation regulations, Bluesky reported in September that 2 million users flocked to the service.

X, which was still known as Twitter at the time, temporarily restricted how many messages users could read each day, Bluesky saw a spike in traffic in July 2023.

When Brazil lifted its ban in October, the business anticipated a decline in user growth, but Wang stated that the growth surge Bluesky is experiencing currently seems different in the wake of the election.

“When your grandmother says, ‘Oh, I know what you’re working on,’ it’s just cool,” she remarked.

David Carr, a research editor at Similarweb, believes that Bluesky’s rapid user growth could signal a significant transformation. According to Carr, the app’s popularity is comparable to Google’s early years, when the search engine started to garner attention from the public and generate interest while battling off rivalry from bigger and more established search engines like AltaVista and Yahoo.

“At least early in the history of social networks, we have seen these reversals,” Carr said, pointing out that Facebook ultimately defeated the once-dominant Myspace.

emerged from the nest of Twitter
In the midst of the pandemic in 2021, Wang and Jay Graber, who is currently the CEO of Bluesky, shared a San Francisco home with 22 other aspirational businesspeople. Including some of the founders of the artificial intelligence startup Anthropic.

Then-Twitter CEO Jack Dorsey chose Graber to lead an internal project for a rumored decentralized social network.

Wang recalled Jay’s presentation at our house during her interview for the Bluesky project lead position. “We all think, ‘How awesome.'”

The concept behind Bluesky’s founding was the possibility of users sharing their data and profiles with other social networks using its open-source infrastructure.

According to Wang, Graber had the support of Twitter, and her peers agreed with the proposal. According to her, the main query was: When is the best moment to launch a new social network?

“Later that year, Wang became a contractor for Graber, and the other original members of the project, Daniel Holmgren and Paul Frazee. helped start an effort to learn how to build a decentralized social network protocol that could be as large as Twitter,” she said.

According to a Delaware State filing, Graber then requested that Twitter split Bluesky out in an attempt to gain independence. In October 2021, she established Bluesky Social as a public benefit corporation to enable her team. To continue developing the app and its core decentralized social network technology, now known as AT Protocol.

In November 2021, Dorsey resigned as CEO of Twitter, and Parag Agrawal took over. With the statement, “Our mission is to develop and drive large-scale adoption of technologies for open and decentralized public conversation,”. Graber made the newly incorporated Bluesky PBLLC public in February 2022.

Wang claimed that the time was ideal.

Musk made an offer to purchase Twitter in April 2022, and finalized the $44 billion deal in October 2022. The Bluesky team made additional project details public and launched a waitlist for the Bluesky app. Just days before Musk formally took over Twitter.

“Hey, guess how many people are on the waitlist?” Jay asked me, as I recall. Wang remarked, “In three days, there will be a million people.” “Oh, all right, this is the moment,” I said.

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