Because of Swiss laws, there are no shareholders, and only one mission.
  • Proton, known for its secure email and productivity services, is transitioning to a nonprofit foundation model, ensuring it remains mission-focused without reliance on external subsidies.
  • The Proton Foundation, now the primary shareholder, is located in Switzerland, which mandates that foundations act according to their established purpose, bolstering Proton’s commitment to privacy.
  • Proton has expanded its offerings to include cloud storage, password management, calendars, and VPN services, all designed with end-to-end encryption and hosted in Switzerland, enhancing its privacy-first approach.

We believe that if we want to bring about large-scale change, Proton can’t be billionaire-subsidized (like Signal), Google-subsidized (like Mozilla), government-subsidized (like Tor), donation-subsidized (like Wikipedia), or even speculation-subsidized (like the plethora of crypto “foundations”)," Proton CEO Andy Yen wrote in a blog post announcing the transition. “Instead, Proton must have a profitable and healthy business at its core.”

  • AutoTL;DRBEnglish
    12•6 months ago

    This is the best summary I could come up with:

    “We believe that if we want to bring about large-scale change, Proton can’t be billionaire-subsidized (like Signal), Google-subsidized (like Mozilla), government-subsidized (like Tor), donation-subsidized (like Wikipedia), or even speculation-subsidized (like the plethora of crypto “foundations”),” Proton CEO Andy Yen wrote in a blog post announcing the transition.

    The announcement comes exactly 10 years to the day after a crowdfunding campaign saw 10,000 people give more than $500,000 to launch Proton Mail.

    To make it happen, Yen, along with co-founder Jason Stockman and first employee Dingchao Lu, endowed the Proton Foundation with some of their shares.

    Among other members of the Foundation’s board is Sir Tim Berners-Lee, inventor of HTML, HTTP, and almost everything else about the web.

    As Yen noted, Swiss foundations do not have shareholders and are instead obligated to act “in accordance with the purpose for which they were established.”

    But compared to most service providers, Proton offers a far clearer and easier-to-grasp privacy model: It can’t see your stuff, and it only makes money from subscriptions.

    The original article contains 356 words, the summary contains 169 words. Saved 53%. I’m a bot and I’m open source!