Reddit Kickstarts Its Community Funds Program With A $1 Million Investment

After months of experimenting, Reddit has finally moved ahead with its Community Funds Program, starting off with a $1 million investment.

The company revealed on Monday how they’ve been in the testing phase with the same endeavor for a mere six months and therefore the time had finally come to give financial support to assist users in bringing their inspiration to life.

Reddit unveiled how it had also provided funds for a total of 13 projects during the trial, all of which were recommended by the communities present on the platform.

The diversity was plenty but what really stood out was one treat for history fanatics comprising a digital conference. This was closely followed by a Times Square billboard that was created by the community for a featured music artist.

The new announcement by Reddit for the project is being done to allocate greater funds for community-related activities. In this way, it is hoped to make way for more user-based opportunities

Reddit also shed light on its future plans like how it would soon be inviting users to brainstorm ideas for different projects and send them in. They’ve also asked for more inspiration on events and contests too.

These ideas will be treated like nominations whose funding can vary from $1000 to $50,000. Moreover, these projects will undergo an evaluation that takes several factors into consideration. Common examples include creativity, impact on the community, and user feasibility as well.

But exact details pertaining to guidelines will be shared soon.

Through a recent blog post, the company highlighted how it wished to generate greater chances for enhanced user connection via Community Funds. And through this million-dollar investment, they hope to align with their mission of greater empowerment and a sense of belonging for people around the world.

Similarly, the blog post also shed light on how their investment is another strategy used for encouraging communities to make more efforts and bring the best ideas forward to achieve fruitful targets.

One part of the company’s experiment also included allocating $5000 in funding for photography exhibits where users could compete against one another and showcase their skills. Meanwhile, another fun project funded by the platform included a cosmic-themed competition that received similar funding.

Reddit has also worked closely with struggling members of the society, awarding 25 children with Christmas gifts who faced financial hardships.

With that comes another interesting point that should be highlighted. Reddit is definitely not the sole platform that is busy launching community funds.

A similar initiative was seen by Facebook in 2020 where it not only gave funding but also came through with support to promote resilience with social unity for numerous communities locally.

Reddit’s recent announcement has come forward after the company launched a number of search-themed features such as searching for comments. Here, users won’t have to go through the hassle of searching for threads. Instead, they can achieve the command by simply typing in the search bar tab for ‘new comments’.

Another similar feature includes a simpler design to get search results conveniently through user feedback on both mobile devices and computer desktops.

Read next: Reddit has now launched an update that will allow users to search for comments
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