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Reddit Donating 10% of 2014 Ad Revenue To Charity

At Search Control, we always keep our finger on the pulse of trending topics, news and humor and Reddit is one of the first places we search each morning. About a year ago, news-sharing community Reddit announced plans to take 10 percent of its ad revenue and donate it to charity. Today it’s revealing details about how much money it’s actually donating and giving users the chance to determine where that money will go. We were very pleased to read this morning that Reddit is following up with their commitment to donate 10% of the advertising revenue to 10 charities to be determined by the Reddit community.

Reddit says it brought in about $8.3 million in revenue in 2014 ($8,276,594.93 if you want to be precise). As a result, it will donate $827,659.49 to charity. That money will be split evenly among the 10 most popular charities among Reddit users.

Read the full article from Techcrunch.com below:

About a year ago, news-sharing community Reddit announced plans to take 10 percent of its ad revenue and donate it to charity. Today it’s revealing details about how much money it’s actually donating and giving users the chance to determine where that money will go.

Reddit says it brought in about $8.3 million in revenue in 2014 ($8,276,594.93 if you want to be precise). As a result, it will donate $827,659.49 to charity. That money will be split evenly among the 10 most popular charities among Reddit users.

For this effort, Reddit says it has partnered with CharityNavigator, making the CharityNavigator database searchable to Reddit users. Anyone with a Reddit account can vote here, and you can vote for as many charities as you like.

Beyond being an inherently good thing, efforts like this may balance out some of the less laudable aspects of the community and give weight to Reddit’s claims to more than just a for-profit company. The Reddit blog post highlights some of its other do-gooder efforts, and it’s also said it will give its users shares in the company in the form of cryptocurrency.

Featured Image: Eva Blue/Flickr UNDER A cc by 2.0 LICENSE

Source: http://techcrunch.com/2015/02/18/reddit-charity/?ncid=rss