FundRazr

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FundRazr
Web address fundrazr.com
Slogan Change a Life. For Good.
Type of site Crowdfunding
Available language(s) English
Launched 1 September 2009 (2009-09-01)
Current status active

FundRazr is a Canadian crowdfunding site and Facebook app first released in 2009. It allows users to set up crowdfunding pages and/or embed fundraising apps on their Facebook pages to raise money for a variety of causes such as medical care, memorials, and animal rescue causes. [1] Tens of millions of dollars have been raised from over 40,000 fundraising campaigns.[2]

History

FundRazr was founded in 2008 by Daryl Hatton. The head office is located in Vancouver, Canada. The platform was initially a Facebook app that allowed users to crowdfund money over Facebook.[3] It has since developed into a full crowdfunding site.

Business Model

FundRazr uses the donation/perks crowdfunding model, where users keep everything they raise minus the 5% transaction fee. [4] A fee is not charged if no fund is raised. FundRazr allows users to create a campaign page for their cause. The page can then be shared through social media, email or embedded onto a third-party website to solicit donations from supporters. Supporters contribute to a cause through comments, shares, likes, and donations, which are all visible on Facebook.[5] [6] FundRazr is in partnership with PayPal which allow users to deposit and withdraw funding in real time. [7]On August 20, 2013, FundRazr introduced Crowdfunding as a Service Technology as PoweredBy FundRazr, which allowed web publishers and companies to run crowdfunding service on their site. [8] FundRazr subsequently announced its first official PoweredBy partner, HealthLine on Dec 17th, 2013. [9] FundRazr announced on Sept.12, 2013 that it was selected as the preferred fundraising platform for Season 1 of the upcoming TV series, the Crowd Funder show, which launches September 22nd, 2013 on FOX affiliate WUTV.The weekly show will feature 6 FundRazr projects each episode and provide insights into the projects. [10]

As of 2013, illness, medical and health-related causes represent 58% of money raised. Memorials/tributes represents another 12%. On February 28 of 2013, Fundrazr announced that it had raised $20 million for its users. [11][12][13][14]On May 21st of 2013, FundRazr announced that it had raised $25 million from 37,000 campaigns. [15] [16] As of Dec 18, 2013, FundRazr has raised $40 million. [17]

Reception

Forbes ranked FundRazr as one of the top 6 crowdfunding platforms in the world in 2013. [18]

Awards

  • 2013 UK Trade and Investment Global Competition Winner [19]
  • 2013 BCTIA Technology Impact Award - Most Promising Start-up [20]
  • 2013 Vancouver Social Media Award - Best Social Media Campaign (non-profit) [21]

Notable projects

Rank Total raised Project start Project description
1 $1,007,356 March 2012 Professional Gamer Athene's project Operation Sharecraft raises over $1 Million (including a matching grant of $500,000 from DC Entertainment) for East African Relief by Save the Children.[22]
2 $414,869 July 2011 Wikileaks Staff Legal Defence Team raises £233,650 as of Nov. 7th, 2013 for Wikileaks staff costs and Julian Assange's legal defence.[23]
3 $402,184 April 2013 Over $400,000 raised for world's largest open-source science project to understand the microbial diversity of the Global Gut. 1695 contributions.[24]
4 $107,742 November 2013 Over $100,000 raised for Australian King Hit victim. [25]
5 $103,034 December 2013 Over $100,000 raised for father with incurable brain cancer [26]
6 $103,014 August 2013 Wikileaks Staff Legal Defence Team raises $63,969 as of Nov. 7th, 2013 for Edward Snowden's legal defence [27]
7 $97,969 July 2013 Almost $90,000 raised for single mother who lost 3 limbs in a dog bite accident [28] [29]
8 $93,402 April 2012 Over $90,000 raised for Tiger Woods' foundation to send 10 deserving students to college [30]
9 $28,718 October 2013 Over $27,000 raised for internet viral,craiglist pitbull. [31]

See also

References

  1. ↑ Ivor Tossell, “FundRazr pushes crowdfunding to next level with social platform”, The Globe and Mail, 7 October 2013.
  2. ↑ Mike Hager, “Entrepreneurial minds meet at Sprout Up”, The Vancouver Sun, 3 October 2012.
  3. ↑ Knowlton Thomas, “Exclusive Interview: Vancouver's FundRazr raises the bar with monumental PayPal and Facebook collaboration” Techvibes, 8 August 2010.
  4. ↑ Stephen Hui, “Vancouver startups put a new spin on crowdfunding”, Straight.com, 27 November 2012
  5. ↑ Nelson Bennett, “Social media harnessed to raise investment dollars”, Business Vancouver, 24 July 2012
  6. ↑ Kate Taylor, “6 Top Crowdfunding Websites: Which One Is Right For Your Project?”, Forbes, 6 August 2013.
  7. ↑ [http://www.techvibes.com/blog/exclusive-interview-vancouvers-fundrazr-raises-the-bar-with-monumental-paypal-and-facebook-collaboration, “Exclusive Interview: Vancouver's FundRazr raises the bar with monumental PayPal and Facebook collaboration” Knowlton Thomas, Techvibes, 8 August 2010.]
  8. ↑ Rob Lewis, “FundRazr Introduces Crowdfunding as a Service” Rob Lewis, Techvibes, 20 August 2013.
  9. ↑ Joseph Czikk , “VANCOUVER’S FUNDRAZR TO HELP AMERICANS CROWDFUND HEALTHCARE COSTS” Joseph Czikk, Betakit, 17 December 2013.
  10. ↑ [http://ca.finance.yahoo.com/news/fundrazr-wins-tv-show-nod-130000890.html, “FundRazr Wins TV Show Nod”, Yahoo!, 12 September 2013.]
  11. ↑ <Sumari MacLeod, "Vancouver's Fundrazr Hits $20 Million in Donations", Techvibes,28 February 2013
  12. ↑ <Cheryl Alkon, "'Crowdfunding' sites pay medical bills, raise hopes", USA Today, 18 January 2013
  13. ↑ Lauren Dugan, “PayPal Makes Online Fundraising a Social Experience with FundRazr”, SocialTimes, 19 August 2010
  14. ↑ Hansen, Evan; Tate, Ryan (11.01.12). "Can Facebook Army Supercharge Nonprofit Fundraising? First Test: Sandy". Wired (magazine). Retrieved 13 November 2012. 
  15. ↑ <Dianne Buckner, "Crowdfunding websites trying to cash in on crowded field", CBC,18 June 2013
  16. ↑ <Charles Luzar, "FundRazr: $25 Million Raised For 37,000 Crowdfunding Campaigns Since 2010", Crowdfund Insider,21 May 2013
  17. ↑ <Candace So, "FundRazr kicks off ‘crowdfunding as a service", ITBusiness,18 December 2013
  18. ↑ <Kate Taylor, "6 Top Crowdfunding Websites Which One Is Right For Your Project", Frobes,06 August 2013
  19. ↑ <[https://www.gov.uk/government/world-location-news/canadian-innovation-heads-to-the-uk, "Canadian innovation heads to the UK", GOV.UK,12 July 2013]
  20. ↑ <Cassandra Leger, "FundRazr Crowdfunding Platform Named Most Promising Startup At The Technology Impact Awards", Right Startups ,10 July 2013
  21. ↑ <Sumari MacLeod, "http://www.techvibes.com/blog/the-good-and-the-bad-of-the-2013-vancouver-social-media-awards-2013-04-01", Techvibes ,1 April 2013
  22. ↑ Kate Cox, “Gaming Provocateur Aiming to Raise $1 Million for Humanitarian Aid”, Kotaku, 27 March 2012
  23. ↑ John Hudson, “Why WikiLeaks Is Raising Money Using MasterCard and PayPal Again”, The Atlantic Wire, 2 March 2011.
  24. ↑ [http://biofrontiers.colorado.edu/news/join-american-gut, “New public gut bacteria study expected to reach around the world”, University of Colorado]
  25. ↑ Emma-Jayne Schenk, “Ongoing battle for king hit victim Matt Scarff”, Bendigo Advertiser , 4 January 2014.
  26. ↑ Amy Remeikis, “Homecoming for Rome Torti”, Brisbane Times , 3 January 2014.
  27. ↑ [http://www.theverge.com/2013/10/28/5039196/wikileaks-launches-site-for-edward-snowdens-legal-defense-free-snowden, “WikiLeaks launches site for Edward Snowden's legal defense” Adrianne Jeffries, The Verge, 28 October 2013.]
  28. ↑ [http://www.cbc.ca/news/canada/ottawa/ottawa-mother-loses-3-limbs-after-dog-bite-infection-1.1362502, “Ottawa mother loses 3 limbs after dog bite infection” CBC News, CBC News, 21 July 2013.]
  29. ↑ [http://news.nationalpost.com/2013/07/22/christine-caron-lost-three-limbs-to-rare-dog-bite-infection/, “How an Ottawa mother lost three limbs to rare dog bite infection, but not her spirit” Sarah Boesveld, National Post, 22 July 2013.]
  30. ↑ Tiger Woods Foundation, “Help send 10 deserving students to college”, Tiger Woods Foundation, 19 April 2012.
  31. ↑ [http://www.huffingtonpost.com/2013/10/03/your-pit-bull-found-me-and-im-not-giving-her-back_n_4036912.html, “This Craigslist Ad Will Break Your Heart And Put It Back Together Again”, Huffington Post, 28 October 2013.]

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