Ethos Network, a new social media platform focused on building a community of young activists, has announced the end of a € 1.5 million initial funding round.
London-based Ethos was founded in 2020 by 21-year-old former Oxford student Alejandra de Bruner. Ethos is inspired by both the current state of economic and political unrest and the UK’s desire for young people to use social media to introduce change.
Social activism has always been part of social media to some degree, but in the years since the pandemic, platforms such as Instagram have been flooded with protests and political publications backed by Gen Z.
However, data show that trust in the main social media platforms is declining in the UK.
A recent report from digital experience firm Acquia found that 63% of the UK population does not trust basic social media due to a number of concerns about confidentiality, censorship and transparency.
This gap in trust is what Ethos Network aims to take advantage of. The company said it intends to fill a gap that social media giants have failed to meet; the inherent desire of this generation to use social media to connect with causes, “said a company spokesman.
Ethos aims to be a platform where people can come together to learn about issues and connect with advocates for change.
“We admire the trust and network of our investors and are excited to move forward with them on board,” said founder and CEO Alejandra de Bruner.
Ethos Network, after completing its beta test in 2020, recorded more than 40,000 downloads in just a month and a half.
The latest cash injection brings the total amount of funding raised to £ 1.8 million. The recent opening round follows a pre-funding round of around £ 300,000 in October 2020.