GoFundMe Acquires CrowdRise

Consolidation comes to the charity crowdfunding industry as GoFundMe acquires CrowdRise.

And I say “industry” because GoFundMe has raised “$3 billion since 2010 from 25 million+ donors across over 2 million campaigns.” At a 5% commission, that’s $150MILLION in topline revenues. Not bad money for doing good for people. Financial terms of the deal were not disclosed (and probably won’t be as these are not public companies).

Tech Crunch reports that “CrowdRise was co-founded by the actor Edward Norton, producer Shauna Robertson, and Robert and Jeffrey Wolfe in 2009.”

Wonder if they will be filing a Hart-Scott-Rodino Anti Trust Notice with the Department of Justice and the Federal Trade Commission?

https://techcrunch.com/2017/01/10/gofundme-buys-crowdrise-to-expand-to-fundraising-for-charities/

Advertisements

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
This entry was posted in accredited investor, balance, Charity, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Funding Portals, review, technology, VC, Venture Capital, Wall Street and tagged , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s