Free to participate in, RedditGifts was first created by Reddit user "kickme444" (the alias of Dan McComas), while working on freelance projects.

[2] Participation was free, although extra perks could be purchased with the optional "RedditGifts Elves" membership,[3] and goods were usually priced between $10 and $25 USD.

[6] Microsoft chairman and philanthropist Bill Gates participated in the service for five years under the username "thisisbillgates".

The two site-runners reportedly could not afford to continue maintaining the site while simultaneously working their day jobs.

[4] On 9 June 2021, Reddit announced the shutdown of RedditGifts, effective at the conclusion of the 2021 Secret Santa exchange.