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article imageMeet Redditmade, Reddit's own crowdfunding site

By Sravanth Verma     Oct 31, 2014 in Technology
Reddit, the popular, self-described "Front Page of the Internet" has launched Redditmade, a crowdfunding platform for its subreddit users.
Reddit received 175 million unique visitors last month, but the traffic is primarily distributed across 8,000 active subreddits. Subreddits are subcategories that allow the site's users known as "redditors" to form communities focused on specific interests and hobbies. Redditmade will allow moderators of subreddits to create and sell merchandise to these communities.
Redditmade runs on the same principle that Kickstarter and Indiegogo follow. Moderators post their merchandise along with a funding goal, and the community contributes to complete the goal. Reddit takes a cut from successfully funded projects.
However, unlike other crowdfunding platforms, Reddit will take an active role in creating the final product. Redditmade is right now primarily filled with t-shirt crowdfunding ideas. The process involves creating a rough design, after which Reddit “connects you with sourcing partners, work with you to finalise designs, and help you step through all the other creative, legal, logistical, promotional, and financial hoops to make your campaign happen, but we can only help you as much as you’ll let us.”
“One of the biggest reasons we created redditmade was to allow subreddits an easy way to create official subreddit merch for their communities,” the site explains. “Whatever you want to make, we’ll connect you to our network of quality sourcing partners for a variety of products and walk you through every step of the process so your community can celebrate your connection and show off your pride without all the work.
The service is still in beta mode. Users will have to register credit card details to pledge, but the site states that they will only be charged if the pledged goal is successful.
Redditmade is an effort by Reddit to monetize on its huge traffic and community. Thus far, the only major monetizing efforts have been display advertising and a premium membership option called Reddit Gold.
Reddit was founded by Steve Huffman and Alexis Ohanian and was acquired by Condé Nast Publications in 2006. Reddit is currently based in San Francisco and in October 2014, raised $50 million in funding from Snoop Lion and other investors.
More about Reddit, Kickstarter, crowdfunding
 
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