Masters of Scale Rapid Response: How GoFundMe has facilitated $15 billion in giving, w/CEO Tim Cadogan
Dec 9, 2021
Tim Cadogan, CEO of GoFundMe, shares insights on how the platform has facilitated an astonishing $15 billion in giving. He discusses the spike in donations during the pandemic and the emotional bonds formed through crowdfunding. Cadogan emphasizes the importance of community support and the company’s unique focus on people helping each other rather than just transactions. He also touches on the need for adaptability within businesses and how asking for help can unlock new avenues for success.
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Facilitate Asking and Gratitude
- Make it easier for people to ask for help, as it's often harder than giving.
- Facilitate gratitude by helping recipients communicate the impact of donations.
Helping People Help Each Other
- GoFundMe's goal is to be the most helpful platform for people to support one another.
- They emphasize asking for help, as people often underestimate others' willingness to give.
For-Profit Model
- GoFundMe's for-profit model enables investment and innovation in a competitive tech landscape.
- This allows for efficient movement of money, maximizing the amount received by beneficiaries.