"I think the public square is not the direction we want to go in...we're very inspired by companies like Reddit," Bluesky's Rose Wang told CNBC.

The chief operating officer at Bluesky spoke at SXSW London with journalist Amit Katwala about the value of community-led connection — and where their rivals have gone wrong.

Speaking at SXSW London, Rose Wang said Bluesky was built in response to a social media market dominated by a handful of firms