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tldr: Proton AG (a for-profit) is now wholly-owned by Proton Foundation (a non-profit) that will put 1% of its annual profits into a VC-like fund. > In the pas
by ignoramous 2y ago
tldr: Proton AG (a for-profit) is now wholly-owned by Proton Foundation (a non-profit) that will put 1% of its annual profits into a VC-like fund.
> In the past 10 years, we have launched five services and reached 100 million people. In the process, we have also grown from a team of 3 to a team of 500.
Phenomenal in a space where there's an endless list of companies either dead or ceaselessly struggling.
- ni10c 2y agoI don’t think it ever says wholly owned. My understanding is that the three founders have donated their shares to the Foundation, but they didn’t own 100% of the company. Likely >50% but not 100%
- tempay 2y agoTo my reading it’s only part of their shares and probably results in the foundation being the biggest single shareholder while still only having a minority stake.