After acquiring CrowdRise over a year ago to double down on fundraising for non-profits, GoFundMe is today taking the wraps off a new product that will supercharge the service.
CrowdRise by GoFundMe is a new version of the site that signifies the next step of development for GoFundMe, as it starts to work with larger organizations (and by association, larger campaigns and funding totals).
It will let non-profits create campaigns more quickly, and follow them with better analytics, social media management and event planning tools.
The bigger picture for GoFundMe is that, in a world where there are relatively limited ways of monetising non-physical content online — others include advertising and subscriptions — it wants to build and dominate one of the notable and lucrative alternatives: donations — or as GoFundMe likes to describe it, the “giving layer of the internet.”
Non-profit organizations are a very lucrative part of that graph: according to the Chronicle of Philanthrophy in November 2017 (via Forbes), the largest non-profits generated $108 billion from private sources in the previous year, and digital platforms have become a major component of how that money is collected.
“CrowdRise by GoFundMe is designed to help nonprofits succeed, and it’s an important milestone as we continue to build the giving layer of the internet,” said Rob Solomon, CEO of GoFundMe, in a statement.