Proton, the Swiss company behind privacy-focused apps like ProtonMail, is transitioning to a non-profit foundation model. The newly established Proton Foundation will serve as the main shareholder of the existing corporate entity, Proton AG, which will continue as a for-profit company under the Foundation’s auspices.
This move is designed to make the organization self-sustainable, without having to rely on donations, grants, or commercial tie-ups with corporations. Unlike Signal, which relies on backing from billionaires like WhatsApp co-founder Brian Acton, and Mozilla, which leans heavily on search revenue from Google, Proton Foundation aims to set itself apart by retaining a profitable and healthy business at its core.
The change in governance does not signal a shift in how Proton’s core businesses are run. Proton is not profit-driven, but profitability remains a core objective to ensure independence through self-sustainability. By operating as a for-profit under a not-for-profit foundation, Proton aims to keep privacy as a central tenet while retaining some advantages offered by private companies.
This unique approach allows Proton to offer stock options to attract and incentivize top tech talent. It also leaves the door open for the company to go public in the future if needed. However, the foundation’s control would always require the company to act in a way that does not jeopardize Proton’s original mission. Proton’s financial success is directly committed to the public good, preserving not only Proton’s values but also its culture of innovation, entrepreneurship, ambition, and competitive spirit.
Read more: techcrunch.com