Is Facebook entering the crowdfunding space? 0

Posted on 5, April 2017

in Category EARLYFIN Blog

Facebook announced it’s expanding its set of online fundraising tools to include its own GoFundMe competitor, starting first in the U.S. The new tool will allow users to raise money for personal campaigns. In addition, the company is adding the ability for Facebook Pages to add a “donate” button to their live broadcasts on the network.

This is not the first time Facebook has stepped into the fundraising space. In 2015, it debuted a Kickstarter-like feature aimed at nonprofits that allowed them to set up a campaign page, explain their goals and collect cash. Last year, the company expanded its fundraising tools to allow individuals to collect funds on behalf of nonprofit organizations, as well.