Longreads is thriving

Longreads is thriving under Automattic. It’ll be interesting to see where this ends. They’re using a member funded model to pay for original stories, with a bonus attached:

Longreads has raised about $250,000 from “thousands of members” since it added memberships in 2012. The suggested monthly amount is now $5 a month or $50 a year, though readers can choose to donate any amount, and Armstrong said that the company’s gotten some thousand-dollar donations. All of that money now goes to pay authors, and WordPress.com matches every $1 from a reader with an additional $3, which clearly makes it a lot easier for Longreads to do what it wants to do.