Turns out that charity crowdfunding is just good business. £95 million worth.
That’s how much charity software developer Blackbaud is paying to acquire the charity crowdfunding platform JustGiving.
That web platform has raised over £3 Billion in 164 countries for more than 26,000 charities since it started in 2001. With a 5% commission, JustGiving may have earned about $150 Million in those 16 years, although reports say that its latest financials for 2016 show revenues of £24.9 million with a profit of £821,000 after tax.
Unfortunately, this space may grow as more people may have to ask strangers for money to pay for their healthcare. So, maybe this is going to be an accretive deal for Blackbaud.