Facebook Just Introduced A New Tool To Raise Money
Facebook Just Introduced A New Tool To Raise Money

Collective funding or crowdfunding is a tool that in recent years has had an incipient role to support, emerging companies that wish to materialize their projects. Hence, now Facebook want to do so for personal and social causes as well.

Facebook Just Introduced A New Tool To Raise Money

Facebook believes that personal causes matter as much as those of charities or non-profit organizations. For this reason, it has just announced a new tool to raise fund for causes of personal interest through collective donations and an update of the tool for non-profit organizations.

Facebook introduces the rounds of personal financing

Collective funding or crowdfunding is a tool that in recent years has had an incipient role to support, emerging companies that wish to materialize their projects. Hence, now Facebook want to do so for personal and social causes as well.

There are even some portals dedicated to personal financing on the Web. But with the arrival of the social network of Mark Zuckerberg in that field, surely many people will have a great tool to finance their own projects, due to the massive Facebook.

According to an official statement published on its blog, the social network would begin to support the personal causes of its users, enabling a tool that allows their contacts to make donations to a particular campaign.

This new tool will be called Personal fundraisers and basically will consist of the possibility of raising money for a particular cause that you want to carry out.

Also, the social network giant Facebook itself indicates that this new tool will make it possible to raise money for themselves, a friend or even a person who does not have a registered account on the platform. However, the social network wants to highlight the altruistic nature of this new tool.

Personal fundraisers (currently only available in the United States and currently in beta) will define the categories that can be financed for the following causes:-

  1. Education: such as tuition, books or classroom supplies
  2. Medical: such as medical procedures, treatments or injuries
  3. Pet Medical: such as veterinary procedures, treatments or injuries
  4. Crisis Relief: such as public crises or natural disasters
  5. Personal Emergency: such as a house fire, theft or car accident
  6. Funeral and Loss: such as burial expenses or living costs after losing a loved one

The bet of Facebook for the social good

Personal fundraisers will be available to users over the age of 18 and with a review period for each cause 24 hours prior to the start of the fundraising campaign. Also, you can ask for collective donations using your live video tool. Unfortunately, no details have been given on when it will be available in other countries.

Finally, the statement highlights the update of its tool for causes of non-profit organizations. So, now the verified pages can add a button for donations in their live broadcasts and in their messages.

In addition, Facebook underlines that this update will be a great help for public figures, companies, brands and organizations to use their broadcasts to raise funds for the organizations they sponsor, due to the impact of this tool on users. With regard to personal causes, no details have been given regarding a percentage of commission, as if it exists in that of charities.

So, What do you think? Do you think Facebook will enable this new tool in other countries? Do you consider its implementation as positive? What causes would it begin with? Simply share your views and thoughts in the comment section below.



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