Razoo (company)
| Website | www.razoo.com |
|---|---|
| Launched | 2007 |
| Current status | Active |
Razoo is a crowdfunding platform that allows nonprofit organizations and individuals to collect donations online. The company is based in Alexandria, Virginia.
Overview[edit]
Razoo Global Corporation was founded in 2007[1] to provide underfunded nonprofit organizations with a platform for online fundraising. In 2012, Razoo surpassed $135 million raised on the platform, due in part to its participation in 24-hour "giving events" such as Giving Tuesday.[2] The platform surpassed $450 million raised in 2015.[3] To date, Razoo has hosted over 80 giving events[4] and has surpassed $500 million in donations.
In April 2016, Razoo opened its platform to individuals looking to fundraise for personal causes, such as medical bills, fertility treatments, and pet expenses.[5]
Business model[edit]
Razoo is a for-profit company that sustains its business by retaining a percentage of donations made on its platform. Razoo retains a 4% platform fee for charitable fundraisers and a 5% platform fee for personal cause fundraisers, plus 2.9% + 30¢ per transaction for credit card processing costs.[6] Razoo does not enforce penalities for failure to meet fundraising goals.
Charitable donations on Razoo are regranted to nonprofit organizations by the Razoo Foundation, a donor-advised fund.[7]
See also[edit]
References[edit]
- ↑ "Razoo expands crowdfunding-for-causes platform to support people in need". VentureBeat. Retrieved 2017-03-09.
- ↑ Center, Foundation. "Giving Through Razoo Crowdfunding Platform Surpassed $135 Million in 2012". Philanthropy News Digest (PND). Retrieved 2017-03-09.
- ↑ Razoo. "Razoo Launches Charitable Crowdfunding Campaign for Veterans Day". GlobeNewswire News Room. Retrieved 2017-03-09.
- ↑ "About Giving Days". Razoo.com. February 2017.
- ↑ "Crowdfunding Platform Razoo Gets Personal". Tech.Co. 2016-05-02. Retrieved 2017-03-09.
- ↑ "Razoo Pricing". Razoo.com. February 2017.
- ↑ "FAQs". Razoo Foundation. Retrieved 2017-03-09.
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