Reddit trousers $50m to splash on ads, mobile and cash-generating staffers

Reddit has announced that it has managed to raise $50m in funding, which it plans to use to hire more staff, improve its mobile offering and, of course, make its ads better. The risqué blog also plans to give something back to the community of users, the ones who bring all the eyeballs to the site with their frequently …

[Anonymous Coward]

How to allocate the cash?

Easy, number of ad's you've clicked through and then bought something....

[AndyS]

It takes money

I understand that - it's not free to run a large site.

But $50,000,000? That's a hell of a lot of money. I'm afraid I struggle to get my head round how they can need that much.

[Graham 24]

Re: It takes money

I suspect a lot goes directly into the founders pockets, but in a subtle passes-the-accounting-audit way.

Recently, there was an article on El Reg about Outsourcery - losing £3.6M on revenues of £3.5M, but somehow the two head honchos were paid over £500,000 in the previous year.

(http://www.theregister.co.uk/Print/2014/08/14/outsourcery_salary_sacrifice/)

[Inventor of the Marmite Laser]

Another bunch of people for the "B" Ark

Like it sez