Reddit Launches Crowdfunded Manufacturing Platform
The popular website Reddit announced the launch of RedditMade, a platform for community-funded ideas.
According to a report by Crowdsourcing.org, RedditMade operates in a way that benefits creators. A campaign creator puts up a product for people to preorder, as well as a break-even goal, and the product is made only if it reaches that goal. This makes it a low-risk venture for creators.
Reddit is also teaming up with manufacturers to oversee the production process so backers can be guaranteed that the order they paid for will be fulfilled.
For the time being, only T-shirt campaigns can be launched without contacting the Reddit staff. For other projects, creators must give the Reddit staff an approximate number of how many units people want to buy, examples of artwork for the product and an idea of where the proceeds from the item will go.
From there, Reddit connects them with sourcing partners, works to finalize designs and helps creators through creative, legal, logistical, promotional and financial steps.
This is not Reddit's first crowdfunding project. In 2012, it launched RedditDonate—a crowdfunding platform for non-profit campaigns.
For more information on RedditMade, visit www.redditmade.com.