I wanted to thank you all for your generosity in helping MeFi’s future stability and also give some big updates on where we are with the impromptu fundraising efforts
over the last couple weeks.
posted by mathowie to MetaFilter-Related at 3:01 PM (326 comments total)
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As of right now, 1868 members are contributing a dollar or more monthly, for just about $10,000 in recurring donations after fees have been removed. For one-time donations we have 1063 members that have given us a total of nearly $40,000 after fees. For monthly funding, that’s an average of $5.35/person, and on the one-time donations, it is about $37/person. We’ve also included people that mailed in a check as much as possible (we could identify about 70% of the donations that came in that way, we changed the donation page to ask people put their usernames in the memo field to make this 100%), added Bitcoin as well, and are still working on a PayPal alternative if that was holding anyone back from giving.
The fundraising results are fantastic and I thank you all because it’s way beyond what I expected. The monthly recurring revenue is really great. It is trending past 1/3 of our total monthly Adsense revenue and ensures we have a comfortable padding towards any future reductions in advertising revenue. The one-time donations will also come in handy as they provide a healthy buffer (along with current savings) of a couple months of operating income, which takes away a great deal of stress around the future of MeFi (we’ve historically operated with just a couple weeks of revenue saved up).
As a result of this fundraising, we’re able to keep goodnewsfortheinsane on board for one day of taz relief a week effective immediately. LobsterMitten may be able to return later this summer as well, once the dust settles and we figure out how well the streamlined setup works on the backend.
As we approach 3,000 supporters, we’ll be making the fundraising less visible, removing the top banner from all the sites, but adding it to the header/footer later this week in some permanent, unobtrusive way.
Again, I want to thank you all for supporting the site and for being so understanding during this rocky time. We’re still developing a bunch of tools on the admin side and will be rolling out small changes to the site for users over the next few months, all with Metafilter's future stability and long history in mind. Thanks again.