Thursday, July 25, 2024

How Does Quora Make Money? Quora Business Model

Our brain keeps on asking questions and there is no limit to it. Every now and then one or the other question will pop up in your minds! Isn’t it?

So where do you find answers to all these questions!? Well, either you search in google or open the Quora App directly.

Most of you might search directly on Quora as you get more practical answers from people who are knowledgeable or people who have experienced the things personally.

You can find answers to basically any question may it be the most stupid or the funniest question.

The one good feature about Quora is that you can even ask questions anonymously and also people can answer the questions anonymously. This will keep your identity safe when you want to talk about something which is very personal.

The quora vision statement is to grow and share the knowledge all around the world!

As of 2021, Quora has more than 500 Million monthly active users, and every day thousands of questions being asked and answered.

Are there any questions that google can’t answer? Well, there is and Quora has answers for it!

Did you know?

“There are more than 400K topics available on Quora”. That’s insane!

Success of Quora

Adam D Angelo who was the CTO of Facebook and his colleague Charlie Cheever left Facebook and founded Quora in 2009. It is headquartered in San Francisco, USA

There were several websites on the internet where people can ask questions and get answers. 

These 2 people realized that these websites were not well organized and not up to the standards.

So they started a platform known as Quora where people who are experts in specific fields can contribute high-quality answers.

Quora is a simple platform where people ask questions they want to know and people who are knowledgeable or who are experts in the topic will answer their questions.

The content on Quora is totally generated by their users and one can view the content without even logging in but to view some adult-related content you might need to log in.

The users have the option to upvote or downvote the answers based on the quality and relevance of the answer.

There are countless number quora spaces and you can find a quora space for any particular topic that you are looking for.

When you type any query on the Google search bar 50-70% of the time you’ll find an answer from Quora.

The main difference between Google answers and Quora answers is that in Quora you’ll find answers from real people whereas google matches the articles based on the search query.

Quora is also used by business owners and bloggers to drive people to their website or blogs and make the users buy their product or service.

Well, that doesn’t mean you can spam your answers with just promotional links. Quora and their community spaces are very strict when it comes to this and you will be kicked out of the platform.

With that let’s get back to our main topic! So, how does Quora make money? Keep reading!

How Does Quora Make Money?

Well just like other platforms, Quora also makes money from advertisers who advertise their products or services on the Quora platform.

Not to mention, advertisements is the main way through which major businesses generate their revenue.

Even though Quora platform was launched in 2009, they started advertising on their platform only in 2017.

You can see advertisements on Quora on the homepage, on the particular question page, and also on the quora spaces.

As of now, Quora gives 3 types of advertisement options to advertisers. They are through text ads, image ads, and promoted ads. Promoted ads are quite similar to image ads but you can add more longer-form text into it.

Read: Quora spaces for digital marketers

Quora advertisements are majorly used by companies who are into B2B business

Below are few images of how Quora Ads looks like.

Image ad in the Quora space:

Quora Image Ad

Image ad on the home page of Quora and text ads which appear when reading the answers for a particular question.

quora revenue model
Image Ad on home page
quora makes money from advertisements
Text Ad on Quora

Investors are investing a good amount of money in Quora in the hope that Quora will be profitable in future. 

15 investors have given funds to Quora and till now Quora has raised $226M in Funding.

Advertising is the only way by which quora is earning money now but they might get into other monetization strategies in the coming days.

Ending Talk

Quora has been successful in this industry even though other players were already there. That is because Quora concentrated more on user needs and how users would expect a question and answer platform should be.

It’s all about finding the right idea to lead a successful business. A perfect product idea will take your business to a level that you won’t even imagine!

Hope you understood the business model of Quora and how it is making money at present.

Read: Quora spaces for business

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