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My understanding is that most of their current funding is from WhatsApp co-founder Brian Acton, who has loaned them $50-105m at 0% interest, to be repaid in ~50
by rococode 6y ago
My understanding is that most of their current funding is from WhatsApp co-founder Brian Acton, who has loaned them $50-105m at 0% interest, to be repaid in ~50 years (I can find confirmation that Acton donated $50m and that their current assets are $105m, but I'm not clear on whether he was also the one who loaned the additional $55m). And before they had that big loan, they were operating on smaller grants and donations.
https://en.wikipedia.org/wiki/Signal_Foundation#History https://en.wikipedia.org/wiki/Signal_Foundation#History
https://projects.propublica.org/nonprofits/display_990/824506840/12_2019_prefixes_82-86%2F824506840_201812_990_2019121216951146 https://projects.propublica.org/nonprofits/display_990/82450...
- cloudking 6y agoThanks for the info, surely they could burn through that as the service gains popularity, do you think?