How does Quora make money?

Have you ever heard of Quora? Wrong question.

Have you ever answered or asked a question on Quora? Maybe yes or no.

But definitely you must have heard about this interesting platform.

This social media site was started to improve the world’s knowledge. Do you think you have seen something similar, yup, you must be remembering Wikipedia. This platform was created in a similar fashion as Wikipedia i.e, to share the knowledge, information to educate the world. But Quora is slightly different. In this platform, anyone can post a question anonymously or publicly. And anyone can answer these questions. It came to a point that whenever people need answers or information relating to any specific topic they are going to quora. From career advice to politics, people ask questions and discuss various topics. 

Let’s dive a little deeper and know more about Quora

Story behind Quora 

Quora is also one of the social media platforms that develops communication with other people. Here people interact with people who have expertise and knowledge in various topics. Be it a successful businessman or a college graduate anybody can answer a question that is posted publicly. 

Quora was founded back in 2009 by Adam D’Angelo and Charlie Cheever. It is an international question and answer website any questions can be followed, asked, answered, and edited by the users on the internet.  These users can make edits to the answers based on their opinions or facts. Before starting this Q&A website Adam D’ Angelo previously served as CTO at Facebook. Charlie Cheever was a manager an engineer at Facebook. 

The idea behind starting this platform was because the founders felt there was not a good Q&A site that answers the people questions. Already existing sites that answer questions are not up to the mark. They have decided to build this platform to make a difference in society. In these past few years, the Quora has evolved. Although you must be wondering why what is the difference between Quora and Google, as the other already answers your questions. But there is a difference between both of them is whenever you search for something in Google, it will show you a curated list of content specifically for the question. Google gathers the scattered information relating to a particular topic and presents it to you in an orderly fashion. However, in Quora real people interact with others and answer these questions. 

Similar to Social media platforms such as Facebook and Instagram the major source of income is advertisements.  

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Stats of Quora 

This brings us to the stats of Quora if you’re a user then you must be curious about the statistics of this platform. Quora is a highly simple Q&A portal where the questions asked by a user are answered by the others in the portal. The main focus of this platform is to build a knowledge base that will help the users of the internet forever and to a certain extent, this has come true. For many people, this has become the primary destination if they need answers relating to any topic. 

Quora has also introduced many interesting features to stay at the top of their game. Some of the features are Wikidata references, Quora Sessions, Merged Questions, etc. All these features were introduced to ensure and improve user engagement. Another best thing about this platform is that one doesn’t have to log-in to enjoy the services of this platform. 

So here are some interesting stats of this platform:

  • Quora has a total of 40 million monthly users
  • The U.S has more active quora users and India stands second
  • 40% of traffic comes from mobile users
  • On average a user spends 1-4 hrs on this platform
  • It has a total of 55 Million content pages

Here are some interesting facts about Quora:

  • For 1 upvote you need to get at least 410 views  
  • More than 85% content on Quora is evergreen
  • This platform has around 500,000 topics live in the portal
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Quora business model 

When Quora started back in 2009, it has no source of earning an income so it had to mainly rely on the funding. Quora has initially survived on the four rounds of funding. After its D list funding of $85 Million in 2017, its valuation has considerably increased and it was valued at $1.8 Billion. This platform has received a total of $452 Million in funding. If the company keeps attracting more people to want to go public then it should essentially increase its revenue too. 

Similar to other social media platforms Quora also has a huge user base. It also has their interest too. So this platform has also started earning revenue through advertisements. But it doesn’t have ads extensively as all other social media platforms. 

They have started the beta test to show limited advertisements. The advertisements have become more common in Quora now. This platform has mostly tried to incorporate ads on its platform. Frankly, they have done it better than others. The ads in this platform focus on the relevant ads from the relevant advertisers. One can only say that the advertisements are well incorporated in the quora. 

You will find these advertisements on the main page of the forum and other forum pages. But the price that is charged for ads is not the same, the price changes based on the area the advertisers want their ad at. Quora is not yet running sponsored ads because it wants to stick to the mission of building a knowledge base for the users. It wants users to get the answers not the promotional ads. So they will only have ads moderately on the platform.

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Conclusion

There is no doubt that this platform has been offering users with answers to the questions. From beauty to science, many different topics are covered in this platform. If you’re a regular user you would understand the importance of Quora. The primary and the only motive behind this platform was to build a knowledge base and seeing the growth rate, you can say that, yes!! it will generate high-quality answers to questions. If you’re interested in knowing how other business functions then you can check out the business models articles.

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