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Reddit to donate 10 percent of its profits

  • Entertainment and news website Reddit announced that it plans on donating 10 percent of its revenue to the less fortunate. 

    The move comes as a surprise and people wondered how it could even afford to donate such a large chunk. One possibility is that the decision could discourage people from blocking their ads and so the website could make more money. 

    Reddit's CEO Yishan Wong mentioned that the company plans to increase its ad revenue by 11.1 percent this year. The increase wouldn't only benefit the website but also "support the goals and causes of the entire community."

    Tagged as: reddit donation, reddit website revenue, reddit plans, money news, business news