• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Social Media

Reddit Announces $1 Million Funding For Users’ Best Ideas And Competitions

Ayoola by Ayoola
April 27, 2022
in Social Media
Share on FacebookShare on Twitter

Reddit, a social news aggregation, web content rating, and discussion website, that allows registered members submit content to the site such as links, text posts, images, and videos, has in an announcement this week said plans are in the offing to spend $1 million to fund various projects on the platform, as part of its expansion of its Community Funds program.

“We will invite communities to submit ideas for projects, events, contests, giving, almost anything you can think of to bring people together for inspiration and delight,” the company said in its announcement. Projects can ask for between $1,000 and $50,000, and Reddit will start issuing grants in June.

Reddit, the 19th most visited website in the world in a ranking by web traffic analysis company, Alexa Internet, is also the 7th most-visited website in the United States, and the San Francisco based website hopes to use this version of the creator funds that big-media companies like Facebook, Snapchat, TikTok, YouTube, Spotify, and, others has been offering to people using their platforms.

Meta-owned Facebook had at a point pledged a whopping $1b on creator-related funding, with Snap also at a point throwing $1 million a day at the things people were making on the platform, but Reddit cannot be to possess the same leverage as these two platforms for example as it is not a creator-focused platform in the same way but the company has over the last few  months experimented with the Community Funds idea, as it paid for two billboards that displayed art from the winners of a BTS subreddit contest, ponied up the prize money for a couple of other competitions, helped the Random Acts of Amazon crew buy kids Christmas presents, while funding several other projects.

Reddit had in 2019 claimed it had approximately 430 million monthly users known as “redditors”. With the site’s content divided into categories or communities known on-site as “subreddits”, the website boasts of having more than 138,000 active communities, and the funding will go a long way to elevate interest in those projects, in the process get more people using the platform but in a slightly more circuitous way than the average “thanks for going viral, here’s some money!” creator fund.

It would be a worthy ask to know the kind of projects Reddit funds, though the first announcement of the company intimating the public about the Community Funds test last fall, examples of what it was looking for was given: “online conferences, outdoor festivals, workshops, books, magazines, cultural or heritage programs, short films or musical productions.”

More is expected from the company in the next few months, with the public eagerly waiting how the company will spend the $ 1 million earmarked by the renowned brand.

Related Posts:

  • Reddit AI translate
    Reddit Partners with OpenAI to Leverage Language…
  • reddit-getty_feature
    Reddit Q1 2025 Earnings Soar 61% on User and Ad Growth
  • Reddit
    Reddit Suffer Major Widespread Outage Leaving Users Stranded
  • Reddit_Thumbnail
    Reddit Shares Performance Insights, Community…
  • reddit-hero
    Reddit Communities Unite In Protest Against…
  • Major-investigation-launched-into-child-protection-measures-on-TikTok-Reddit-and-Imgur
    Reddit & TikTok Under Investigation in the UK Over…
  • GettyImages-1454483278
    Reddit Tests ‘Official’ Labels For Profiles And…
  • netflixrainbow
    Netflix Commences Phase Out of its Cheapest Ad-free…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Tags: redditsocial media
Ayoola

Ayoola

Ayoola Faseyi, an Abuja based Journalist with interest in Technology and Politics. He is a versatile writer with articles in many renowned News Journals.He is the Co-Founder of media brand, The Vent Republic.

BROWSE BY CATEGORIES

Receive top tech news directly in your inbox

subscription from
Loading

Freshly Squeezed

  • Cash App Launches Tap to Pay for Business Sellers on iPhone July 17, 2025
  • Hackers use Microsoft Teams to spread Matanbuchus malware July 17, 2025
  • PalmPay, Moniepoint, OPay, Interswitch Make CNBC’s Top Fintech List July 17, 2025
  • MTN South Africa Plans Sunset of 2G and 3G Networks July 17, 2025
  • Canal+ MultiChoice Deal Faces South African Review this Week July 17, 2025
  • TikTok Adds New Features for Songwriters July 17, 2025

Browse Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    

Quick Links

  • About TechBooky
  • Advertise Here
  • Contact us
  • Submit Article
  • Privacy Policy
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • Artificial Intelligence
  • Gadgets
  • Metaverse
  • Tips
  • About TechBooky
  • Advertise Here
  • Submit Article
  • Contact us

© 2025 Designed By TechBooky Elite

Discover more from TechBooky

Subscribe now to keep reading and get access to the full archive.

Continue reading

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.