Reddit, the popular social network and news sharing community, has announced that it has launched its own crowdfunding platform, Redditmade, a new portal that can allow moderators to establish projects within its subreddit communities and give Redditors the opportunity to contribute to initiatives they want.
It’s very simple to use and similar to other crowdfunding websites, such as Indiegogo and Kickstarter: users submit a concept, establish a funding goal and receive people’s funding to meet the financial objective within one month. Once the main goal is reached, the money will be transferred to the project’s creator.
Reddit marketing manager Kaela Gardner wrote in a blog post that the website wanted to help subreddits create their own official merchandise for their communities. Moving forward, the so-called front page of the Internet will help users connect with quality partners and offer any assistance that may be needed.
The new crowdfunding platform is still in beta mode, and the campaigns that are featured by the company include T-shirts with different subreddit alien logos and jokes printed on the front and back.
Charity will be a major element to the new Redditmade page. Any profits that project moderators garner can be contributed to non-profit organizations and philanthropic entities. If the funds are met for the initiative then the remainder -users can donate extra – can be allocated to a worthwhile cause.
“Redditmade is a new place to turn the best designs and products by the community into reality,” the company said in a statement. “Redditmade gives you the flexibility to create almost anything you want, easily raise money, and support causes you care about. It’s also a great way for others to find awesome new products they’ll love and support other redditors while knowing their information and money will always be secure.”
With five billion monthly pageviews and 115 million unique visitors every month, this was the next logical step for Reddit. The website recently generated $50 million of capital in the latest round of fundraising.
