Privacy app maker Proton transitions to nonprofit foundation structure

Proton announced the creation of the Proton Foundation, which will serve as the primary shareholder of Proton AG to ensure long-term independence and mission alignment while maintaining a profitable for-profit operation. The foundation model aims to avoid reliance on donations or large corporate tie-ups, commits 1% of revenues to privacy-focused charitable activities, and preserves the ability to offer stock options and potentially go public. The board of trustees includes Andy Yen, Dingchao Lu, Sir Tim Berners-Lee, Carissa Veliz, and Antonio Gambardella, with the foundation empowered to block hostile takeovers to protect Proton’s privacy mission.