X users jump to Bluesky - but what is it and who owns it?

Bluesky, a decentralized social media platform resembling Elon Musk's X (formerly Twitter), is rapidly gaining popularity, with over a million daily sign-ups and 16.7 million users as of November 2024.

Created in 2019 by former Twitter CEO Jack Dorsey, Bluesky allows users to host their data on independent servers, promoting greater control over their accounts. Now led by CEO Jay Graber, Bluesky operates as a public benefit corporation.

The platform’s user base surged in November 2024, fueled by political shifts, including Donald Trump’s U.S. election victory and growing dissatisfaction with X's content moderation policies.

High-profile celebrities like Lizzo and Ben Stiller have joined the platform. While currently funded by venture capital, Bluesky plans to generate revenue through paid services like custom usernames, avoiding traditional advertising.