When a company reports their earnings, we tend to marvel at the amount they brought in (or didn’t). From there, not much seems to happen, at least in view of the public. Reddit recently announced they pulled in $8.3 million in ad revenue during 2014. That’s interesting enough news, but what they’re doing with it is even more interesting. After their big win, Reddit is paying it forward, and will donate 10% of their ad income to charity. Best of all, you can help decide where the cash goes.
Reddit is taking votes for where the cash should go, and is planning to distribute the money to 10 different charities. Redditors can vote on which charities they would like to see funded, or submit one of their choosing.
The top ten charities, as chosen by Redditors, will earn a portion of Reddit’s 10% donation. The donation amount will be decided by the votes themselves:
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.
This again placed Reddit in a positive light after their odd foray into crypto-currency. The aim there was to give users 10% equity via Notes, Reddit’s proprietary bitcoin kind of thing. Notes’ future is in jeopardy, but at least Reddit is still being charitable.