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Reddit officially launches its Community Fund program with a $1 million investment – ​​TechCrunch


Reddit is investing $1 million in its Community Fund program, the company announced in Monday. The company has been testing its Community Funds program for the past six months and provides financial support to help Reddit users bring their ideas for events and projects to life. During the test period, Reddit funded 13 projects nominated by the communities on its platform. Among the 13 projects are a digital conference for history buffs and a community-designed musical artist billboard in Times Square.

With this new $1 million investment, Reddit says it’s making Community Funds official to create more opportunities for users. Starting in June, Reddit will invite the community to submit ideas for projects, events, contests, and more. The company will accept nominations for projects that need funding between $1,000 and $50,000. Projects will be selected based on creativity, feasibility and community impact. Reddit plans to build in more posting instructions and details in the future.

“We want to foster more networking opportunities by making the Community Fund official, with $1 million in funding,” Reddit said in a blog post about the announcement. a blog post about this announcement. “The Community Foundation aligns with our mission of bringing community, belonging and empowering all people around the world. We believe empowering communities to do more by giving funds to support their best ideas is one way we can do this.”

As part of an initial experiment, Reddit offered $5,000 to fund a photography contest and another $5,000 to fund a comic book contest. The company is also providing $5,000 to gift 25 children whose families are in financial difficulty with $200 worth of Christmas gifts. Reddit also offered $5,000 to fund a nomination-based giveaway event for r/pan streamers.

It should be noted that Reddit is not the only digital platform to launch crowdfunding, as Facebook has launched community fund in 2020 to provide funding to support “local communities’ efforts to build their resilience and social cohesion around the world.”

Today’s announcement comes a few weeks after Reddit roll out the ability to search for comments, along with several other search-related features. With the new comment search function, users no longer have to click multiple comments to find a topic when searching for a specific chat. You can now search for comments directly through a new “comments” tab in the search bar. Reddit also introduced a simpler design for search results based on user feedback on both desktop and mobile devices.



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