Bluesky, the decentralized social media platform, has been making waves in the tech industry, attracting millions of users and gaining significant attention in the wake of the U.S. presidential election. Since Election Day, Bluesky has seen a surge of 8.7 million new users, pushing its total user count to over 22 million.
The rise of Bluesky may seem sudden to some, but the startup has been experiencing bursts of user growth for more than a year. In September, Bluesky saw a spike in users after the Brazilian Supreme Court temporarily suspended a popular social media platform, prompting users to flock to the alternative service. Similarly, Bluesky experienced another surge in July 2023 when another social media platform limited user activity.
Industry experts like David Carr, a research editor at Similarweb, compare Bluesky’s growth to the early days of Google, emphasizing the potential for the platform to reach a turning point if it continues to attract users at a rapid pace.
Bluesky’s origin story stems from Twitter, where CEO Jack Dorsey initiated an internal project for a decentralized social network. Jay Graber, now Bluesky’s CEO, led the project, and with the backing of Twitter, Bluesky was developed as a platform where users can share their data across various social networks using open-source technology.
The recent surge in Bluesky’s popularity has also attracted interest from advertisers, who are keen to understand the platform’s user demographics. While Bluesky has not disclosed detailed demographic data, the platform’s ad-free model appeals to users weary of traditional social media advertising.
Looking ahead, Bluesky’s business model may explore potential monetization avenues, such as building an online ad business or a payments platform. However, the startup is careful to ensure any monetization efforts align with its mission of providing an authentic and user-centric experience.
As Bluesky continues to grow and evolve, industry experts are watching closely to see how the platform navigates its monetization strategy without compromising its core values of decentralization and user empowerment. The tech industry eagerly anticipates the future developments of Bluesky and its impact on the social media landscape.
