Cole Morgan, CEO of Snap! Mobile, discusses their digital fundraising platform for high school teams, clubs, and activity groups. They explore the benefits of financial transparency, supporting individual kids in raising money for common causes, and the potential of digital fundraising in schools. The platform connects schools with communities, allowing people to donate using phones and credit cards. They focus on fundraising for schools, including financial oversight and compliance. Their goal is to support educators and coaches in helping their students by investing in technology and expanding beyond schools.
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Quick takeaways
Snap Mobile is a digital fundraising platform that emphasizes group fundraising and financial transparency.
Snap Mobile's business model operates on a 20% take rate, providing additional services beyond simple fundraising.
Deep dives
Snap Mobile: A Digital Fundraising Tool for Schools and Youth Organizations
Snap Mobile is a digital fundraising tool developed by Cole Morgan, the founder and CEO of the company. The platform allows high schoolers to raise money for schools, teams, clubs, and more. It focuses on financial transparency and helping groups raise money for a common cause. Unlike other crowdfunding platforms, Snap Mobile emphasizes group fundraising rather than individual efforts. Kids can log in, send out emails, text messages, and use social media to connect with potential donors. The platform is now launching mobile apps, expanding its reach further.
Snap Mobile's Business Model and Impact
Snap Mobile's business model operates on a 20% take rate, which is higher than traditional crowdfunding platforms but provides additional services beyond simple fundraising. The platform offers coordination, promotion, maintenance, and management of online fundraising events. This approach has resulted in raising an impressive $800 million for schools and youth organizations, with $160 million going towards the development and expansion of the technology, including acquisitions and hiring outside salespeople.
The Future of Snap Mobile
Snap Mobile's goal is to build a transformative platform that supports teachers, students, athletic directors, and coaches. While its main focus is schools, the company also plans to expand its services into youth organizations and colleges. With a strong market presence, Snap Mobile aims to continue its growth and help even more institutions raise funds effectively. The company's focus on investing in technology and salespeople reflects its commitment to serving its customers and building a successful and impactful platform.
Cole Morgan, CEO of Snap! Mobile, talks about the digital fundraising platform for high school teams, clubs and activity groups. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.