$5 million lottery giveaway for Reddit users

REDDIT is to give away $5 million to its users, through Reddit Notes that will be distributed in a lottery.

The social network and community site raised $50 million in funding in September, and reserved 10% for its users.

The site asked users soon after how they should distribute the money, and have settled on Reddit Notes, a kind of money, and is working out the details now.

The notes will be able to be used to "tip, donate, or trade" on the site.

They will be given out in a random lottery - there will be about 950,000 Reddit notes which will be divided among user accounts, of which there are more than six million.

The company said that the people receiving the notes will be "determined based on their activities before" the end of September, but didn't say what they would have needed to have done in that time.

The notes will be sent out next year.


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