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In the U.S., there is some $350 billion made annually in charitable donations, with the figure bumping up to $500 billion globally. There is, in fact, a massive opportunity here. “We want to be the giving layer of the internet.” “We are completely heads down focused on global expansion and building the business and creating a better service, as part of what we see as the foundational elements for a platform company,” Solomon said. “We’ve all agreed that the potential outcomes are that you get acquired or go public, and we have no intention of getting acquired,” he said in response to my question about IPOs down the line. The company has no plans to get acquired - which doesn’t mean that companies might have been interested regardless - and it sounds like going public is very much in its sights. Whether that remains the case longer term remains to be seen. There could be reasons such as an acquisition, but there are no proactive plans for VC investing, and the business is profitable.” (You can read more from Solomon here.) On the subject of future funding, the company is not raising money right now, “but the attitude is never say never. “We’re doing this all on our own steam,” he said in an interview. Solomon said that GoFundMe will roll out in the new markets organically (that is, no plans for acquisitions), and using proceeds from its own balance sheet, as GoFundMe has been profitable for years already.
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Find us on Twitter, Facebook and Instagram.Often, when startups embark on international expansions, it’s the result of - or the driver for - massive funding injections. GoFundMe is changing the way the world gives. The GoFundMe community has raised over $9 billion from more than 120 million donations for people, causes, and organizations.
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Launched in 2010, GoFundMe is the world’s largest free social fundraising platform. To view the entire report, visit: About GoFundMe Highlights from GoFundMe’s 2019 Year in Giving report include:
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It also includes company milestones from 2019, such as launching the company’s non-profit and advocacy arm,, and introducing GoFundMe Charity, which provides enterprise software with no subscription fees or contracts to charities of every size. The report includes a snapshot of giving trends from the year based on global GoFundMe data. Additionally, the community rallied together to support one another during natural disasters like Hurricane Dorian and the California wildfires, where thousands of fundraisers were started to help those in need. This year, young changemakers started the Fridays for Future movement to fight climate change, which led to a 60% increase in fundraiser descriptions mentioning ‘climate change’. GoFundMe continues to be a mirror of current events across the globe. This year, more than 40% of donations were under $50. Donations are made every second, ranging from $5 to $50,000. In fact, one passionate individual donated 293 times to 234 different fundraisers in this past year alone.
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After someone makes a donation, they continue to engage with the community and give to multiple causes.
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In fact, nearly 60% of donors were new this year.
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The GoFundMe giving community continues to grow with both repeat donors and new donors. “Together, we can bring more good into the world and unlock the power of global giving.” “As we enter a new decade, GoFundMe is committed to spreading compassion and empathy through our platform,” says Solomon in the letter. In a letter to the GoFundMe community, CEO Rob Solomon emphasizes how GoFundMe witnesses not only the good in people worldwide, but their generosity and their action every day. As part of the report, GoFundMe announced its community has donated more than 120 million times, raising over $9 billion for people, causes, and organizations since the company’s founding in 2010. REDWOOD CITY, Calif.-( BUSINESS WIRE)-Today, GoFundMe released its annual Year in Giving report unveiling 2019 global data and the biggest moments and trends from the year.