Last summer, torrential rains dumped 7 trillion gallons of water on Louisiana, sparking flash floods and setting homes adrift. As images of devastation looped across the nightly news, on the crowdfunding site GoFundMe there were flickers of hope—in the form of digital payments. Moses Wells, a commercial fisherman in Edgewater, Maryland, started a GoFundMe campaign to deliver emergency supplies. “I’m raising money and donations to make multiple trips in a large box truck,” he announced, and $2,381 poured in. In Boston, Louisiana State University fans raised $3,829 to help their bayou-based Tigers. In Texas, a Louisiana native organized an effort on behalf of his hometown: “Please help us as we are just Humans Helping Humans!” Donors responded with $12,403. By the end of the year, funding efforts for Louisiana flood victims had raised $11.2 million. advertisement advertisement Humans helping humans has helped GoFundMe quietly become the biggest crowdfunding platform on the planet, responsible for more than $3 billion since its launch in 2010. It can now bring in as much as $140 million a month in donations, and generated an estimated $100 million in 2016 revenue. (A for-profit enterprise, it levies a 5% fee on campaigns, in line with other… Read full this story
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