GoFundMe Wants to Become the Most Powerful Force in Philanthropy

With over 2 million campaign organizers and 25 million donors, the crowdfunding platform GoFundMe has become a major force for helping philanthropic causes go viral. In 2016, GoFundMe reached a major milestone: $3 billion given over its platform, and it says three times as many people year over year.

In most cases, the average campaign generates $1,000 or $2,000, mainly from the creator's friends, family and immediate social circle. But because the company enables people to share campaigns as well as donate, awareness for some causes can skyrocket. That’s why CEO Rob Solomon doesn’t like the term crowdfunding; he prefers "social fundraising."

"You create this virtuous cycle of people being exposed to a campaign and lots of people giving to that campaign," he says. "A single dollar can turn into tens, hundreds or thousands of dollars."