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What if every time you sold a product or service a percentage of the sale went to a cause your customers believed in? What if instead of you as the CEO of your company – writing one big check at year’s end to a charity of your choice, your employees had the freedom to choose where the money went on a weekly basis? What if giving back increased your company’s bottom line and made your employees happy <em>and</em> supported philanthropy?<br />
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<a href="http://www.inpactnow.com/">in/PACT</a> – a technology company that’s bringing to market a revolutionary social good incentive platform created by <strong>Amar Sharany</strong>, a YPO member since 2002. in/PACT’s position is that companies are more profitable and achieve more sustainable growth when their customers and employees are able to identify and act upon a set of shared values.<br />
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The seeds of in/PACT were sown more than 20 years ago when a school in Orlando, Florida, asked Sharany to help with their fundraising. Sharany was disinclined to ask for money and instead, proposed they team up with local merchants who would give a percentage of every sale that came from someone associated with the initiative back to the school.<br />
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The success of the endeavor got Sharany thinking…<br />
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“A lot of people in ethnic communities have high phone bills,” says Sharany. “We decided to talk to telephone companies to see if we could do something similar and landed a deal with <a href="https://www.att.com/">AT&amp;T</a>.”<br />
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A year and a half later, Sharany had 1,200 employees and was doing US$300 million in sales. With 3,000 community-based causes participating in the program reaching 400,000 households, he was giving back US$15+ million a year to the causes.<br />
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“In the early 1980s we were the only one doing this,” says Sharany. “We basically invented what everyone now knows as cause marketing; conscious consumers buying products and services because they want to help their local community.”<br />
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While the company grew tremendously – partnerships with <a href="http://www.verizonwireless.com/">Verizon</a> and <a href="https://www.creditkarma.com/reviews/credit-card/single/id/first-usa-bankone-credit-card">First USA</a> followed – without the technology in place for tracking consumer purchases, shopping behavior and where contributions were going, the methodology plateaued.<br />
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“In 2008 I participated in the<strong> YPO Harvard President’s Program</strong>,” says Sharany. “I suddenly had a vision of how the power of technology and social media could dramatically expand our platform.”<br />
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Sharany was particularly inspired by Harvard Professor <a href="http://www.hbs.edu/faculty/Pages/profile.aspx?facId=326229">Michael Norton</a>’s case study based on his book, <a href="http://www.amazon.com/exec/obidos/asin/1451665067/benedelmanhom-20"><em>Happy Money: The Science of Smarter Spending</em></a>. The thesis, “Can money buy happiness?” suggested that spending money on other people has a more positive impact on happiness than spending money on oneself.<br />
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“Incentivizing people to engage by giving back to charity gives people moments of happiness,” says Sharany. “When employees feel engaged by giving back, they work harder and remain loyal and that impacts your bottom line. When you do the same for your customers, it increases your bottom line again. Loyalty, pride and higher performance come from your company creating the perfect balance between doing well and doing good.”<br />
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Particularly with the advent of the purpose-driven brand as championed by former <a href="http://www.pg.com/">Procter &amp; Gamble</a> CMO <a href="http://inpactnow.com/blog/former-pg-cmo-jim-stengel-named-chair-of-inpact-international-advisory-board/">Jim Stengel</a>, companies today understand the need to invite their stakeholders to participate in the corporate purpose. Earlier this year, Stengel accepted an invitation to become Chairman of in/PACT’s International Advisory Board. in/PACT’s platforms and products are designed to engage, reward and motivate employees and consumers at every possible point of interaction.<br />
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<a href="http://spiffgive.com/">SpiffGive</a> is a mobile and web application for giving to your cause of choice at any time from anywhere. <a href="http://siliconharbormag.com/2015/05/26/vouch-app-introduces-people-empowered-giving/">Vouch!</a> is an app that empowers customers to use their smartphones to collect contributions from local businesses through an innovative business partnership with students.<br />
The Giving Day – in/PACT’s latest development – was created initially for <a href="http://www.ypo.org/?p=15918" title="Success and Survival: 6 Questions With Gene Brown"><strong>Gene Browne</strong></a>’s company <a href="http://www.citybin.com/cms/">The City Bin Co.&gt;</a> The platform is a weekly email sent out to employees giving them the option of a charity to direct a company contribution to with the amount of money contingent on company performance.<br />
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“This impacts employees directly,” says Sharany. “It shows employees that what they’re doing goes beyond just making money for the shareholders. It makes a difference directly in their lives and in the issues they care about. Every company should have a weekly Giving Day.”<br />
<a href="https://www.canneslions.com/">Cannes Lions</a> – the world’s biggest annual awards show and festival for professionals in the creative communications industry – is unveiling a new initiative this year called <a href="http://www.canneslions.com/cannes_lions/awards/the_glass_lion/overview/">Glass Lion</a>. The Glass Lion recognizes work that addresses issues of gender inequality and in/PACT has been chosen as the technology partner to engage the audience.<br />
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“Attendees will be able to use their badge numbers to support any one of 10 causes,” says Sharany. “The engagement platform will empower people not to just observe, but to participate and create awareness.”<br />
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The potential of in/PACT’s platforms to drive empowerment, loyalty and advocacy are limitless and if early signs are any indication, presages a future where purchase and purpose and growth and goodness are synonymous.<br />
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“If we can use the psychology of giving to drive employee and customer loyalty,” says Sharany, “then we can truly change the world.”<br />
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<a href="http://www.inpactnow.com/">Learn how your business can benefit from in/PACT</a><br />
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(The author of this article is Deborah Stoll from Young Presidents’ Organization (YPO).<br />
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<em>YPO (Young Presidents’ Organization) is a not-for-profit, global network of young chief executives connected through the shared mission of becoming Better Leaders Through Education and Idea Exchange™. For more information, visit </em><a href="http://www.ypo.org/"><em>www.ypo.org</em></a><em>.</em><br />
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(Image: Thinkstock)<br />
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Can Money Buy Happiness?

<br /> Once an <keyword id="6359301" type="POSITION" weightage="80" keywordseo="Entrepreneur">entrepreneur</keyword> has exhausted his <keyword id="6357455" type="EVENT" weightage="80" keywordseo="Funding">funding</keyword> sources, he needs to turn towards raising <keyword id="6391506" type="COMPANY" weightage="80" keywordseo="Equity">equity</keyword> from private equity players. It is important to select a good private equity partner since this investor will stay with you through thick and thin till he is able to find an exit.<br />
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As a promoter, one’s passion is to build a strong brand and a resilient company that will survive over the years. On the other hand, a private equity player is in the business of making money and therefore, very rightly, he has interest in only one thing – how soon he can get the desired return and exit from the company.<br />
 <br /> The best way to approach private equity players is by appointing a good <keyword id="6355120" type="ORGANIZATION" weightage="80" keywordseo="investment">investment</keyword> bank that specialises in raising money for the industry you are in. The i-bank will work with you to prepare an Information Memorandum and introduce you to potential investors.<br />
 <br /> Even if there is considerable pressure on <keyword id="6356305" type="UNKNOWN" weightage="80" keywordseo="funds">funds</keyword>, the promoter should ask the private equity player some important questions such as how long the life of the fund is, what the exit time horizon is and most importantly, what the investor will bring to the company other than money. It is better to ask such questions before the funding than to find out later, after the investment has been made.<br />
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Unless the private equity partner shares your dreams, there will be contrarian positions between the two partners at most board meetings, which will prove dysfunctional for the company’s business. It is also important for both partners to agree upon the time frame for the exit of the private equity investor. I have seen a lot of companies being pushed into an initial public offering (IPO) very early in their lifecycle although the promoter felt that the timing was early.<br />
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Discussions with the potential investor will mostly involve valuation of the company, investment amount and the percentage of dilution. Terms such as pre-money and post-money valuation must be understood by the promoter.<br />
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Once there is agreement with the private equity player on the terms of the investment, it is critical to get this incorporated into a term sheet. For most promoters, it is recommended that they get good lawyers who can help them understand the legalese in the hundreds of pages of those agreements. The promoter must understand the key provisions in great details. It is also essential to read the agreements carefully with specific reference to the rights and responsibilities of a promoter.<br />
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Watch out very carefully for the IRR percentages that are being built into the Default Clause and Liquidity Preference Clause of the agreement that you will sign. Sometimes innocuous numbers that initially seem to be very reasonable can come back to bite you after a few years when you suddenly realise that a large chunk of your own equity has been diluted because of the IRR guarantee that you have signed in the investment agreement.<br />
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Set up monthly review mechanisms with the investor and make sure that you record the minutes of the meetings very carefully. Copies of minutes should be sent to the investor to guard against future denial of what was discussed in those meetings in the event your business runs into a problem.<br />
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As an investor in your company, the private equity investor is as responsible as the promoter to work towards the growth of the firm. I have seen several instances where companies were underperforming and the PE investor attempted to step in, and then made a complete mess of an already challenging situation.<br />
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Raise private equity, but with caution and with your eyes open.<br />
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<strong>About the author:</strong> Ashutosh Garg is the chairman of Guardian Pharmacies and author of the bestselling books, The Corner Office and The Buck Stops Here. Twitter: @gargashutosh<br />
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Looking
To Raise PE Funding? Here’s What You Need To Know

Whether you've been in business one day or 10 years, an imbuement of cash is constantly welcome. However, what sort of fundraising is best for your business? There are such a large number of components to consider - from the phase of your business to the amount it'll expense to get the cash - that simply picking a way to raise cash can overpower.<br />
<br /> Today is a standout amongst the most inconceivable times in history to be an Entrepreneur. <keyword id="138263" type="UNKNOWN" weightage="20" keywordseo="startup">Startup</keyword> expenses are low. Business stages and arrangement suppliers are slicing costs to vie for your business and make life simple for you. If you are looking to raise funds, it can even now be toil. The good news is that there are effective approaches to raise funds for your early stage startup. Here are a few:<br />
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· <strong>Reward-based <keyword id="990338" type="UNKNOWN" weightage="20" keywordseo="crowdfunding">Crowdfunding</keyword>: </strong>Despite the fact that <a href="http://www.businessinsider.in/We-Talked-To-The-Experts-Heres-How-To-Ensure-A-Lucrative-Crowdfunding-Campaign/articleshow/40612353.cms">crowdfunding</a> is an effective approach to raise cash for a startup, its notoriety is on the ascent. At the point when crowdfunding you're actually requesting funds from a crowd of individuals. To begin with crowdfunding, you need to first present an idea that you need to get subsidizing for. From that point, individuals can pick the amount they need to give towards that task. So what’s in it for people? Most crowdfunding portals work on a reward base model. The individuals who put their cash into an undertaking are given rewards that go in quality as indicated by the amount of cash is contributed. You can always list your project on these crowdfunding websites: Indiegogo, <keyword id="842662" type="COMPANY" weightage="20" keywordseo="Kickstarter">Kickstarter</keyword>, Fundable, Dreamwallets etc<br />
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· <strong>Equity-based Crowdfunding</strong>: In case you're searching for investors in your organization as equity or debt, you ought to realize that equity crowdfunding is bringing the universe of resources into startups and early stage startups online and making more of a playing field for both investors and entrepreneurs. <strong>Although equity based crowdfunding is illegal in India for now</strong>, <strong>SEBI is working on guidelines to make it completely legal in the country</strong>. Unlike India, US has moved on and has portals like Crowdfunder and Circle Up to ease the process of equity based crowdfunding.<br />
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· <strong>Peer-to-Peer Lending</strong>: Peer-to-peer lending (P2P) is a technique for debt financing that empowers people to get and lend cash - without the utilization of an authority financial institution as a go-between. Peer-to-peer lending expels the mediator from the procedure, however it additionally includes additional time, exertion and danger than the general block and mortar lending situations. This process is often for smaller amounts of capital ranging from $5,000 to $50,000.<br />
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· <strong>Personal <keyword id="6362476" type="ORGANIZATION" weightage="20" keywordseo="investments">Investments</keyword> &amp; Loans</strong>: A standout amongst the most, recently developed, and conceivably inventive, model to raise funds called "personal investment contracts" and personal loans offer from $5,000 to hundreds of thousands of dollars for personal investment contracts. Essentially, these are agreements where you either consent to reimburse a loan personally after some time, or consent to partake in a rate of gross salary on the cash you acquire over an altered time period.<br />
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· <strong>Business Partner</strong>: You would not have the cash to support your startup all alone, maybe somebody you know might draw in and help you. While selecting a business accomplice ensure you have the same business objectives, since they will have as much control as you over the direction of the business. It also ‘lends-a-hand’ to have a buyout concord in place in the event that the business relationship goes unpleasant. This agreement should outline that the other partner must agree to a proposed buyout within a set time frame or buyout the partners themselves.<br />
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You can see that these choices require work and commitment on your part, so there is no enchantment or free cash. Each financing choice is an intricate tradeoff between close term and more term expenses and paybacks, and also general proprietorship and control.<br />
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With numerous choices accessible, there is no reason for not living your fantasy, instead of dreaming about living.<br />
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(Image Credits: BCCL)<br />

How to Raise Funds &
Not Beg Investors for the same

New Delhi, Feb 17 () Kishore Biyani-led Future Lifestyle Fashions on Monday said its board will meet on February 20 to consider a proposal to raise funds through issues of equity shares, bonds and other  securities.  <p> The board of the company is scheduled to meet on February 20 "to consider and evaluate proposals for raising of funds", Future Lifestyle Fashions said in a regulatory filing.</p> Without mentioning the amount to be raised, the Future group firm said the board may consider proposals for issuance of equity shares, bonds including debentures or any other equity based instruments / securities.  KRH  KRH MRMR

Future Lifestyle Fashion plans to raise money

<p><div class="KonaFilter image-container float_right"><div class="image on-image"></div><p></p></div>US Sen. Rand Paul (R-Kentucky) is reportedly raising presidential campaign cash in an unusual place on Tuesday: the Cannabis Business Summit.</p><p>According to an invitation obtained <a href="https://www.yahoo.com/politics/rand-paul-to-raid-pot-summit-for-campaign-cash-121872321621.html">by Yahoo News earlier in the month</a>, Paul is holding a "private briefing" with his campaign donors at the marijuana industry event in Denver, Colorado. Other outlets, <a href="http://www.nytimes.com/politics/first-draft/2015/06/30/rand-paul-mixes-with-the-marijuana-crowd-to-raise-funds/">including The New York Times</a>, also confirmed the event.</p><p>Colorado famously legalized the recreational use of marijuana last year.</p><p>A National Cannabis Industry Association email reportedly declared, "Major Republican Presidential Contender at Cannabis Business Summit!"</p><p>"Never before has a major-party presidential candidate held a reception at a cannabis industry event, and NCIA is proud to host Senator Paul," the message said.</p><p>The group's deputy director, Taylor West, <a href="blogs.denverpost.com/thespot/2015/06/28/rand-paul-to-raise-money-with-marijuana-industry-in-denver/121575/">further told The Denver Post</a> that Paul's fundraiser will be truly historic.</p><p>"Its the first event that we know of that a presidential candidate will be involved in the industry," West said. "He's kind of in a class of his own."</p><p>Paul, who has been aligned with several libertarian causes, has <a href="http://www.businessinsider.com/heres-rand-pauls-plan-to-reform-drug-laws-2014-7">pushed several legislative drug reforms</a> in the Senate, including reducing the sentencing disparity between crack and powdered cocaine, and making sure that food products containing drugs are "weighed fairly" by authorities. </p><p>He's <a href="http://www.thedailybeast.com/articles/2015/01/19/rand-paul-and-hemp-blazers-my-weekend-in-vegas.html">also been spotted wearing a hemp blazer</a>.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/scientifically-ways-women-attractive-2015-5">6 scientifically proven features men find attractive in women</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="tiMGo5cTpwCabxNRPKR9Te43E3zYrTMd" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Rand Paul is raising money with the weed industry

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Oculus Rift</span></p><p class="caption">Startups like Oculus got their big break through crowdfunding. Next, startups could be able to do it for cash.</p></div><p></p></div></div>The Securities and Exchange Commission is about to vote on a proposal that should it easier for small startups to raise funds. </p><p>The regulation, called Title III of the JOBS act, will allow companies to raise up to $1 million by selling stock to small investors. These so-called unaccredited investors will be able to buy $2000 of a startups shares through crowdfunding platforms.</p><p>Right now, the SEC restricts those kinds of investments only to high-net worth investors, and crowdfunding has instead worked more like advance sales of a startups product or service.</p><p>Virtual reality headset maker <a href="http://www.businessinsider.com/facebook-to-buy-oculus-rift-for-2-billion-2014-3">Oculus</a> got its start on Kickstarter by offering backers everything from t-shirts and posters, to the <a href="https://www.kickstarter.com/projects/1523379957/oculus-rift-step-into-the-game/description">chance to spend a day</a> at the company. </p><p>The JOBS, which stands for Jumpstart our Business Startups Act is meant to foster the growth of smaller companies, by making it easier for them to raise funds. Its best know provision allows companies with less than $1 billion in revenue to secretly file for initial public offerings with the SEC, in order to have their filings reviewed outside of the public eye.</p><p>There will be limitations on the crowdfunding: startups would have to be based in the US and provide disclosures to investors and the SEC alike.</p><p>But the new regulations have the potential to substantially alter how startups are raising money in early stages.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/john-paul-dejorias-rag-to-riches-story-2015-10">Homeless man turned billionaire shares the secret to the American dream</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="9kcGMzcDoKH3S1GFx001rJvoy5kiSCRO" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The SEC wants to make it easier for startups to raise money

There’s this amazing concept that you have, and you know by your gut that this would be a smash hit in the marketplace. Not only would this create a niche segment of customers, but also create a new level of market altogether. You are so immersed in thinking about executing it to the last detail. But, this huge gap between you and the market is only widening. Besides this, it is also threatening to derail your entire plan to make your venture a success.<br />
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Of course anybody who has tried swimming in the sea of market, looking for venture capitalists (VCs) to fund their dreams that are bound to make it big later; know it too well that raising money, even if one opts for crowd funding, isn’t as uncomplicated as it sounds. This topic was discussed at great length at the <a href="http://mumbai.tie.org/">TiE Smashup 5.0</a> recently held at IIT Bombay as well, throwing light on what added credibility was required to attract funding for anything that was going to rock the market.<br />
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Here are five pointers that would be helpful in ensuring your dream is well-fed with funds so that it can grow into a healthy product.<br />
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1. <strong>Pool in your own resources</strong><br />
Make no mistake. Finding funders for <a href="http://www.businessinsider.in/searchresult.cms?query=startup">your startup</a> is probably the most difficult part of the job. It is highly time consuming, and can potentially distract you from developing your product, and is also fraught with emotional upheavals. Worst part is, the results are never under control.<br />
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But, this is what makes this journey as exciting as it can get. If you can factor in time spent on looking for funding and draw up a strategy to get the funders buy into your product, you have arrived with a plan and clarity. Ensure that you have pooled in some of your personal resources so that when you present yourself before the investors, you as an enterprise look healthy and not famished and desperate for ANY money they can throw in your direction.<br />
<br />
2. <strong>Be realistic</strong><br />
Even if you appear a <a href="http://www.businessinsider.in/Here-are-10-things-that-can-help-your-startup-sail-in-first-365-days/articleshow/48958098.cms">small enterprise</a>, being honest and upfront is better than selling fabricated dreams to VCs or funders, no matter how big they are. Stay rooted, and chart a plan, which has a clear roadmap if not a perfect one, to discuss with them. Have short term goals, and an end goal – all within the realm of practical reality. It not only shows your preparedness, but also establishes credibility as a communicator. Positive and precise communication is key, not exaggeration.<br />
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V C Karthic of WoNoBo and Buzzworks Business Services, who is also an angel investor, said, “Humility is more important than ability. Big ideas need to surface not just ‘me too’ ideas. Investors need start-ups as much as start-ups need investors. Just because your start-up is not fundable does not mean it is not sustainable.”<br />
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3. <strong>Integrity</strong><br /> The propensity to use funder’s money to celebrate bask in the glory is not done. To have this integral value will definitely help the funder place more faith in you and your potential. When customers send you a <keyword id="154361" type="PERSON" weightage="20" keywordseo="feedback">feedback</keyword> about the product, accept it gracefully. Because, you are working to please that person at the end of this product chain that begins with you.<br />
<br /> Hitesh Bhatia of Noodle Play and TiE <keyword id="185553" type="ORGANIZATION" weightage="20" keywordseo="Food-Network">Food Network</keyword> said, it is important to please your customer. “Own up to your mistakes, and don’t compromise. Communicate. (For instance) Running a food startup is much like wooing your girlfriend into marriage - the commitment lasts forever,” he added.<br />
<br />
4.      <strong>Pragmatic roadmap</strong><br />
Having a roadmap that isn’t too ambitious for the given set up is something the investors look forward to hearing from you. Don’t build castles in the air as they collapse even before they are complete. Investors are not the people you should be selling dreams to. They will be more than satisfied with your well-etched concept.<br />
<br />
5.      <strong>Raise curiosity</strong><br />
Most startups don’t use media efficiently with the fear of having to face backfiring. Learn a thing or two from politicians; learn to handle positive as well as negativity with equal aplomb. Reaching customers through media gives some sort of credibility that can be built upon.  And hey, good PR can also help you find and connect with funders too.<br />
(Image: Thinkstock)<br />

Five smart roads that can raise money for your startup

<ul class="summary-list"><li>Donations from civilians to the Ukrainian war effort have dwindled since it began in 2022.</li><li>So soldiers are auctioning defunct weapons and war footage to raise money for supplies and weapons.</li></ul><p>Ukrainian soldiers are selling war memorabilia — like downed Russian drones, artillery shells, and firsthand footage of Russian defeats — to raise funds for frontline soldiers, <a href="https://www.nytimes.com/2023/07/07/world/europe/raising-money-ukraine-war.html">the New York Times reports.</a></p><p>Soldiers told the Times that several units fighting Russian forces in Ukraine have to buy their own weapons and supplies, usually relying on outside donations. Those donations have waned since the war first began, they told the outlet.</p><p>Ruslan Zubariev, for example, made money off a viral video of him single-handedly killing a group of Russian soldiers with a rocket launcher. The funds went straight to his unit — the 92nd Mechanized Brigade — to purchase equipment.</p><p>"We don't get that stuff issued to us," Zubariev told the Times. "We buy it all with our own money."</p><p>Others are sending defunct weapons — like disabled antitank missile launchers — to be decorated and sold to the highest bidder at an art center in Kyiv, according to the Times. </p><p>Meanwhile, the head of the Come Back Alive foundation — a charity dedicated to funding the Ukrainian war effort — told the Times that the group has also seen donations dwindle since 2022 and has also turned to selling tokens of war, like downed Russian drones. </p><p>"Civilians don't realize that if they're tired and stop donating, it doesn't mean the war is over," Zubariev told the Times.</p>

Ukrainian soldiers are selling downed Russian drones and artillery shells to raise money for the war

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>REUTERS/Kim Kyung-Hoon</span></p><p class="caption">"Always believe in your soul ..."</p></div><p></p></div></div>Reddit made around three-quarters of a million dollars from the sale of "gold" in 2014, <a href="http://gold.reddit-stream.com/">one software developer has calculated</a>.</p><p>The social news and community site has an unconventional fundraising method: Letting users buy "Reddit gold," a kind of subscription that gives them additional features - and also allows them to publicly gift gold to other users in return for a good post.</p><p>The act is known as "gilding," and gilded posts publicly display a gold star icon beside it and are aggregated on <a href="https://www.reddit.com/r/all/gilded/">a dedicated page</a> on the site.</p><p>Since 2013, Nathan Reed has been trawling this page in order to <a href="http://gold.reddit-stream.com/">try and calculate the total raised through gilding</a>. He estimates that in the last month, it made $67,714 - $94.05 per hour. Casting his eye further back, he calculates that gold raised $778,528.80 in 2014, up 231% on 2013 - $235,254.39.</p><p>The figure for 2015 currently stands at $650,082.72, suggesting it is unlikely to break the million-dollar-mark before the end of the year.</p><h2>Here's how much was raised over the last month:</h2><p><div class="KonaFilter image-container display-table"><div><div class="image"><p class="source"><span>Nathan Reed</span></p></div><p></p></div></div></p><p>Reed acknowledges there are some limitations to his methodology. In an email to Business Insider, he points out that he "can't count gold that people buy for themselves, since this doesn't get applied to a comment." He has "also had one or two server outages over the past few years, causing me to miss a few days of data, so the yearly numbers are not 100% accurate."</p><p>Additionally, the data doesn't take into account transaction fees Reddit will be paying, which will eat into the bottom line. But nonetheless, Reed says that he is "pretty confident that the numbers are broadly accurate. I'd be willing to put money down that I'm within 10% of their internal number."</p><p>The figure pales in comparison compared to the funds Reddit has brought in from other sources. In 2014,<a href="http://www.redditblog.com/2014/09/fundraising-for-reddit.html"> it raised $50 million in venture capital cash</a>, with investors including startup incubator Y Combinator president Sam Altman and Marc Andreessen from Andreessen Horowitz, as well as Peter Thiel, Jared Leto, and Snoop Dogg.</p><p>It also raises money through advertising on the site - in 2014, the company had ad revenues of $8.3 million.</p><p>So what does the money from gold buy? Not necessarily all that much. It's unclear how much Reddit pays its staff: <a href="http://www.businessinsider.com/reddit-doesnt-negotiate-salaries-ellen-pao-2015-6">former CEO Ellen Pao said it offered salaries</a> "at the high end." Unconfirmed <a href="https://www.glassdoor.co.uk/Salary/reddit-Salaries-E796358.htm">salaries on jobs site Glass Door</a> rank from between $79,000 and $157,000. Reddit is based in San Francisco, where the average software developer salary is $103,367, <a href="https://www.glassdoor.co.uk/Salaries/san-francisco-software-engineer-salary-SRCH_IL.0,13_IM759_KO14,31.htm">according to Glass Door</a>. So whatever the exact salaries at Reddit, it seems unlikely that gold can afford to pay for more than half a dozen employees per year. The company has <a href="https://www.reddit.com/about/team/">70 people on the team</a>.</p><p>Reddit has <a href="http://www.businessinsider.com/reddit-ceo-admits-were-still-in-the-red-2013-7?IR=T">long been struggling to become profitable</a>, a challenge made more difficult by <a href="http://uk.businessinsider.com/reddit-bans-r-fatpeoplehate-the-community-furious-ellen-pao-2015-6">the sometimes toxic content shared on the site</a>, and the community's distaste for advertising. Investors seem confident it will achieve it eventually, however: Its 2014 funding round <a href="http://uk.businessinsider.com/report-reddit-raising-funding-at-a-500-million-valuation-2014-9?r=US&amp;IR=T">valued the company at a rumoured $500 million</a>.</p><p>Reddit did immediately respond to a request for comment.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/us-air-force-f-22-raptor-costs-200-million-lethal-fighter-jet-2015-7">This $200 million plane is called the 'most lethal fighter aircraft in the world'</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="drYXRkdjoL0Qzy9Ui5QTih2IoyDGgoEm" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Reddit 'gold' raises surprisingly little money for the company

<p><div class="KonaFilter image-container float_right"><div class="image on-image"><p class="source"><span>AP/Heather Ainsworth</span></p></div><p></p></div>A Syracuse University alumnus' campaign to fill the stands at the Texas Bowl with Orange fans will <a href="http://www.nunesmagician.com/2013/12/19/5225748/cusetixforkids-syracuse-texas-bowl-kids-44444-donations">send close to 1,500 underprivileged children from Houston</a> to cheer on his alma mater.</p>
<p>Sean Keeley - <a href="http://www.sbnation.com/users/Sean%20Keeley">Syracuse Class of 2000</a> - runs the <span>Syracuse fan blog "Troy Nunes is an Absolute Magician" and this week used his website as a platform to raise money to send Houston-area kids to cheer on the Orange.</span> While he originally aimed to raise enough for 200 kids to attend, Keeley said Wednesday night that his initiative has raised more than $40,000 - and he now hopes to send close to 1,500 kids.</p>
<p>"<span>Since most of us aren't trekking it down to Houston for the game, let's take a little bit of the money we would have spent and use it to send some local kids who couldn't otherwise attend the game to go on our b</span>ehalf," Keeley <a href="http://www.nunesmagician.com/2013/12/16/5211942/syracuse-texas-bowl-kids-texans-ymca-donate-game-tickets">wrote to encourage donations</a>.</p>
<p>$30 will <a href="http://www.syracuse.com/orangefootball/index.ssf/2013/12/syracuse_graduate_and_blogger.html">secure each child a ticket</a>, food voucher at the game, and complimentary Syracuse t-shirt. Keeley writes that his new - and final - goal is $44,444.44, a reference to the 44 Orange fans who originally said they'd be able to attend the game (and the famous Ernie Davis' retired jersey). Keeley estimates that with this money, they'll be able to send 1,450 Houston kids to the game.</p>
<p>This year's Texas Bowl pits the Syracuse Orange against the University of Minnesota Golden Gophers.</p>

An Alum Is Raising Money To Send Underprivileged Children To Syracuse's Bowl Game

<p></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Green Party Presidential candidate Jill Stein is raising money for a recount in several key states following New York magazine's report that several top computer scientists alerted&#xa0;Hillary Clinton's campaign they had found&#xa0;possible&#xa0;voter manipulation in several states.<p>In a Facebook post on Wednesday, Stein press director Meleiza Figueroa announced that Stein would be filing a recount, though Figueroa said she&#xa0;"can't let you know the details yet."</p><p>"The green party has always been at the forefront of fights to stand up for our democracy," Figueroa said.</p><p>Stein also announced a fundraising campaign to&#xa0;raising money to "demand recounts in Wisconsin, Michigan, and Pennsylvania," where the campaign claimed there are "significant discrepancies in vote totals."</p><p>As of midday Wednesday, Stein had raised less than $10,000,&#xa0;nowhere near her goal of raising $2.5 million by Friday, around $500,000 less than she raised the entire election cycle.</p><p>It's unclear why Stein is raising money to spur a recount that would in theory throw the election to Hillary Clinton, whom Stein called&#xa0;the "queen of corruption."</p><p>The Guardian <a href="https://www.theguardian.com/us-news/2016/nov/23/hillary-clinton-election-vote-recount-michigan-pennsylvania-wisconsin">reported</a> on Tuesday that activists approached Stein, who declined to pursue a recount, citing lack of funds.</p><p>The&#xa0;green party candidate appears slightly in debt. According to a Federal Election Commission filing from mid-October, Stein had just under $30,000 less on hand than she owed in campaign debts.</p><p>Despite the FBI's contention that Russia appeared involved in several hacks aimed at sewing discord within in the Democratic party, many experts argued that the claims of actual vote&#xa0;interference appear thin.</p><p>While experts in New York magazine's report argue that there may be electronic voting machine manipulation, Pennsylvania primarily relies on electronic voting machines, but <a href="http://billypenn.com/2016/11/23/a-pennsylvania-recount-for-hillary-clinton-a-nightmare-scenario-explained/">experts contend</a>&#xa0;that they're virtually un-hackable because they are so outdated, and do not have internet connection capabilities. Further, Michigan only uses paper ballots.</p><p>Vox noted that New York magazine's report only presented one clear example of voting discrepancies: According the New York, Clinton performed less well on average in counties that used electronic voting machines. Yet this does not mean that Trump simply performed better in those counties.&#xa0;</p><p>Princeton polling expert Sam Wang&#xa0;argued that polling error appeared far more likely.</p><p><div></div></p><p><div></div></p><p><div></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/obama-seth-meyers-roast-trump-2011-presidential-election-2016-11">It's surreal to watch this 2011 video of Obama and Seth Meyers taunting Trump about a presidential run</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="5xd2E3MzE6JUUQuvxmVNa8gGTMkzm87v" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Jill Stein is raising money for a recount in Wisconsin, Michigan, and Pennsylvania

<p><a href="https://www.businessinsider.com/master-your-money"></a></p><div type="image" title="couple managing finances" height="1333" width="1777" msid="79325389" hostid="261"></div><ul class="summary-list"><li>Pay raises can lead to lifestyle inflation: the tendency to spend more as you earn more.</li><li>One financial expert asks clients to list their spending and compare it to their new income — oftentimes it results in a cash surplus. </li><li>This number represents a freedom of choice, he says, and helps people make a conscious <keyword id="124303" type="PERSON" weightage="60" keywordseo="Budgeting">budgeting</keyword> decision, rather than an impulsive one.</li></ul><p>The US economy has been through the wringer this year, but about 84% of employers said they still expected to <a href="https://www.businessinsider.com/many-us-employees-will-not-receive-raises-willis-towers-watson-2020-10" target="_blank" rel="noopener">deliver raises to employees on schedule</a> next year, according to a survey of 705 companies by the consulting firm Willis Towers Watson. </p><p>There's a certain type of high that accompanies a <a href="https://www.businessinsider.com/personal-finance/what-to-do-money-raise-bonus-2017-9" target="_blank" rel="noopener">pay raise</a>. It's a mixture of pride and possibility; we know money can't buy true happiness, but this feeling might fool you, if even for only a moment. All too often, that increase in income leads to an eventual increase in spending, a phenomenon typically referred to as <a href="https://www.businessinsider.com/personal-finance/how-i-resist-lifestyle-inflation-2019-4" target="_blank" rel="noopener">lifestyle inflation</a> or <a href="https://www.businessinsider.com/personal-finance/question-prevent-counteract-lifestyle-creep" target="_blank" rel="noopener">lifestyle creep</a>.</p><p>Depending on your financial situation, bumping up your spending may be warranted — say, to put more money toward paying off debt or buy services or products that enhance your quality of life or save you time. But at the end of the day, the ticket to building long-term wealth is <a href="https://www.businessinsider.com/how-to-fight-lifestyle-creep-2017-6" target="_blank" rel="noopener">spending less than you earn</a> and saving or investing the difference, regardless of where you fall on the pay scale.</p><p>To help people combat lifestyle inflation and make the most of a <keyword id="512582" type="PERSON" weightage="60" keywordseo="Pay-raise">pay raise</keyword>, certified <keyword id="135503" type="POSITION" weightage="60" keywordseo="financial-planner">financial planner</keyword> Eric Roberge performs a simple exercise that usually results in a gratifying "aha moment" for his clients, he said during a <keyword id="9089434" type="UNKNOWN" weightage="100" keywordseo="master-your-money">Master Your Money</keyword> roundtable discussion.</p><h2><strong>A 2-step exercise reveals the 'freedom' that can come from a raise</strong></h2><p>When a client comes to Roberge with news of a raise, he asks them to list how much money they spend each month and on what. Next, he tells them to compare their new income — after accounting for how much will be taken out in taxes and workplace benefit costs — to that monthly spending amount. The amount left over is usually a big surplus, Roberge said. </p><p>"Then they look at that and they say, 'Wow, that's great. What do I do with that?' And that's the question that just lights me up because then I say, 'There's the freedom right there,'" he said. </p><p>With this visual as guidance, people are more likely to make a conscious budgeting decision, rather than an impulsive one.</p><p>"They have the ability to expand their life in some way now by spending more on something that they really like or — hopefully — saving more money for something down the road to provide them that same freedom later," he said.</p><p>Oftentimes clients will realize that they're comfortable with their level of spending as it is, Roberge said. Then, saving or investing their extra income doesn't feel like such a sacrifice.</p>

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