Subj : Proton is going non-profit
To   : All
From : TechnologyDaily
Date : Tue Jun 18 2024 10:15:05

Proton is going non-profit

Date:
Tue, 18 Jun 2024 09:08:25 +0000

Description:
Proton makes the move to non-profit in a move it says will help protect its 
original mission.

FULL STORY
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Proton, the company behind one of the best password managers and best VPN 
products around, has announced that it will be going non-profit. 

The Proton project has been famously open source across all of its solutions, 
including Proton VPN and Proton Mail. 

This switch will continue to ensure Proton products are built in the interest 
of the community they serve by adopting the Swiss non-profit structure that 
blocks hostile takeovers and sets a legal precedent for the trustees to run 
the company in line with Protons original mission. Non-profit Proton 

Interestingly, the basis for Protons non-profit structure relies on the 
beating heart of the business, Proton AG, to remain operating in a for-profit 
structure under the watchful eyes of the non-profit foundation, which will be 
the primary shareholder - protecting the business from hostile takeovers and 
pressure from investors. 

In the letter announcing the new model, Proton founder Andy Yen highlighted 
that this structure would offer the best of both worlds, stating that the 
for-profit corporation is not prevented from issuing stock options to attract 
and incentivize the best talent in tech. Nor would it even prevent the 
corporation from raising capital on public markets if additional resources 
are required to win the fight for the future of the internet. 

However, the foundations control would always require the company to act in a 
way that does not jeopardize Protons original mission, and Protons financial 
success is directly committed to the public good. In this way, we seek to 
preserve not only Protons values, but also our culture of innovation, 
entrepreneurship, and ambition, and our relentless competitive spirit, Yen 
said. 

The announcement comes on the 10 year anniversary since Proton started its 
journey with the crowdfunding of Proton Mail in 2014. More from TechRadar Pro 
Here is our guide to the best free password managers around Proton Pass 
launches new Pass Monitor security suite Take a look at some of the best 
password generators 




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Link to news story:
https://www.techradar.com/pro/proton-is-going-non-profit


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