The next time your company needs to raise funds for more people or servers, forget venture capital. That’s so, 2009.
More than 6,000 of Reddit’s eight million active users made a donation. While that represents just 0.00075% of active users, that’s apparently enough to be deemed a “huge success” by Reddit’s tiny team of developers.
- We’re getting a much-needed cash infusion.
- We’ve shown that, despite popular belief, people on the Internet are willing to be supportive if you treat them with honesty and respect.
- It’s given everyone involved with reddit a good kick in the pants right when we needed it.
So how much did the 6,000 donate. No idea. But “a much-needed cash infusion” suggests that the total amount was in the high 5 figures, maybe even 6!
Who would have thunk it. Maybe newspapers should look at this model. Instead of ramming paywalls down our throats–and losing subscribers–why not let each reader make a donation?