August 19, 2013; Venture Beat
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Razoo has played a fairly major part in the development of “Giving Days,” but on Monday it announced that it would move more strongly into the realm of peer-to-peer giving, where people can fundraise to support a family member’s emergency medical bills, help pay back college loans, fund housing for a summer internship, or help pay for a friend’s wedding. “‘Giving’ is inherently part of the sharing economy,” according to Razoo CEO Lesley Mansford, “and this update allows individuals to share with one another for causes not necessarily tied to a charity.”
“We believe that peer-to-peer benevolence will continue to augment nonprofit fundraising and become a significant category of giving in the future,” Mansford said. “Razoo wanted to empower everyday philanthropists to show they care and provide tools to provide help to anybody who needs it, regardless of the cause—because not all needs are tied to a charitable organization.”
Razoo has distinguished itself through structuring fundraising campaigns like contests, with deadlines, hourly goals, strategies, leaderboards, and prizes to keep people giving money and engaging with their social networks to raise even more. Mansford believes that the form of giving can become addictive and keep people engaged.
More than 14,000 organizations have raised $165 million collectively through Razoo, with the record-setting Giving Day raising $16.5 million for a consortium of causes in Minnesota.—Ruth McCambridge