90 million unique visitors a month has to be good for something. But so far Reddit hasn’t been able to stay consistently profitable even with all those people (yeah, you) banging down the door.
The big issue for Reddit is that its users would hold page advertising against them in a big way. So instead the site is hoping that their marketplace Reddit Gifts can be the key to generating some green. The hope is that this Etsy-Craig’s List hybrid can tap into the extremely niche interests of different sub-Reddits and help small manufacturers and craftspeople connect with their ideal audience.
As Reuters describes it:
Usually priced between $US10 and $US25, the goods reflect Reddit’s young and geeky user base, from collages of cats in steampunk apparel to coffee mugs branded by Imgur.com . . . More than 250 merchants supply gifts curated and “up-voted” by the community . . .
Reddit only has 28 employees right now, and other initiatives to drum up revenue through changes, like subscription services, have never worked. But maybe Gifts has a better shot. Would you buy stuff from Reddit? [Reuters via Business Insider]