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?