Description

GoFundMe is an American for-profit crowdfunding platform that allows people to raise money for events ranging from life events such as celebrations and graduations to challenging circumstances like accidents and illnesses. From 2010 to the beginning of 2020, over $9 billion has been raised on the platform, with contributions from over 120 million donors.

Founded by Brad Damphousse and Andrew Ballester, the company is based in Redwood City, California, with offices in San Diego and Dublin, and operations in France, Spain, Germany, Italy and the United Kingdom.

History

The company was founded in May 2010 by Brad Damphousse and Andrew Ballester. Both had previously founded Paygr, which is a website dedicated to allowing members to sell their services to the public. Damphousse and Ballester originally created the website under the name "CreateAFund" in 2008 but later changed the name to GoFundMe after making numerous upgrades to the features of the website. GoFundMe was founded in San Diego, California.

In March 2017 GoFundMe became the biggest crowdfunding platform, responsible for raising over $3 billion since its debut in 2010. The company receives over $140 million in donations per month and made 2016 $100 million in revenue. In June 2015, it was announced that Damphousse and Ballester had agreed to sell a majority stake in GoFundMe to Accel Partners and Technology Crossover Ventures. Damphousse and Ballester stepped down from the day-to-day oversight of the company. The deal valued GoFundMe at around $600 million. In January 2017, GoFundMe acquired CrowdRise. GoFundMe's CEO is Tim Cadogan. Ballester remains on the board of directors and holds an undisclosed stake in the company.

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Alena Potapova

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