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REDDIT GETS INTO THE CROWDFUNDING BUSINESS WITH REDDITMADE

posted Nov 12, 2014, 12:40 AM by J Shaw   [ updated Nov 12, 2014, 12:40 AM ]
Entertainment, social networking and news service Reddit, which allows users to submit content on the site, has launched a crowdfunding platform called Redditmade and already people are jumping aboard to raise money for an odd array of ventures.

“Among the many projects appearing on the first day of the Redditmade crowdfunding website is a T-shirt with a phrase common among Reddit users: ‘Already Reddit.'” reports The Chicago Tribune.

Redditmade is geared towards helping users design, sell T-shirts, stickers, and other creative projects.

Like the sometimes controversial Reddit, Redditmade is carving its own niche. It seems to focus more on smaller groups of everyday Internet users who’d simply like to share fun and wacky items.

The process for making the new platform happen is normal for crowdfunding: You submit a project design, set a funding a goal, and then seek small sums of money

http://www.crowdfundmadeeasy.com
from a large group of people to reach the goal. If the project is funded within a month, the money goes to the project leader. Also, a portion of proceeds can also be allotted for a charity.


Redditmade was launched at a time when Reddit just raised $50 million at a $500 million valuation, and is developing into more than merely a community of information. According to CEO Yishan Wong, he also wants to introduce a virtual currency for the service, which could go hand-in-hand with Redditmade, reports Tech Crunch.


“Redditmade is a new place to turn the best designs and products by the community into reality,” said the launch post on Reddit. “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.”

Posted from : http://madamenoire.com/485432/reddit-gets-crowdfunding-business-redditmade/