Reddit To Give 10% Of Its 2014 Ad Revenue to the non-profits chosen by its Community
Reddit today announced that they plan to give 10% of its Ad revenue to the top non-profits chosen by its community. According to The Next Web’s report Reddits no ad revenue will be excluded everything from a $5 sponsored headline to a large ad campaign will be added together before one tenth is donated.
Reddit announced on their blog posts says that At the end of this year, after closing our books, we will solicit nominations from all of you for non-profits and then hold an election based off of eligible nominees for where we should donate the funds. Funds will be disbursed proportionally based on percentage of votes amongst the top 10 non-profits.
Reddit CEO Yishan Wong in the comments of the announcement says “We’re getting closer to closing the gap. Yes, doing this will widen the gap again but people are right: we think this is good for non-profits and we are working to increase ad revenue by more than 11.1% anyhow.
So it’s less about a numbers game as it is trying to align things even more between ads and the will of the community, because we want to have the right business model.”
Reddit will ask its users to nominate non-profits at the end of the year. Funds will be distributed proportionally based on the percentage of votes how many votes a nonprofit gets.