Considerations for Building Financially Stable Online Communities
Over the past several years, there has been a significant growth in the popularity of online communities, and as one may expect, there are a multitude of challenges associated with developing these seemingly robust communities into self-sustaining businesses. In 2013, the CEO of Reddit, for instance, reported that despite having 70 million monthly readers, his company wasn’t making money. More recently, Jack Dorsey, the CEO of Twitter, announced (via a tweet), that there would be company layoffs to “move with greater focus and reinvest in our growth.” A viable business model is absolutely critical to maintain thriving and sustainable communities.