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Reddit dips its toe into crowdfunding with Redditmade

reddit crowdfunding redditmade
With sites such as Kickstarter and Indiegogo gaining traction over the years due to increased interest in crowdfunding, it was only a matter of time until more players popped up. Reddit, the self-proclaimed “front page of the Internet,” is stepping up to the plate with Redditmade, its own crowdfunding and community-driven creation platform.

Reddit created the site with subreddits in mind, as Redditmade provides a way for subreddits to make official merchandise. However, if you’re not a subreddit moderator, you can still launch a campaign, so long as you have a Reddit account.

Similar to Kickstarter, there are time limits to campaigns on Redditmade. If these campaigns fail to hit their goals before their self-administered deadline, those who back a project will not be charged. If campaigns do manage to hit their goals, however, Redditmade helps them find sourcing partners and set up campaign promotion. In some cases, Redditmade will even help oversee production and distribution.

Profits made from campaigns can be given to charities. Payments for successful campaigns, for the time being, can only be sent to U.S. bank accounts. The reasoning here is that Redditmade is currently in open beta and hasn’t officially launched in full yet.

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