4.4 • 796 Ratings
🗓️ 31 January 2025
⏱️ 17 minutes
🧾️ Download transcript
Whether its for medical expenses, college funds, charity campaigns, chances are you've been asked to donate to a fundraiser online.
GoFundMe is one of the biggest of the crowdfunding platforms, generating an estimated $30bn in funds since it launched in 2010.
CEO Tim Cadogan tells us about joining as CEO in 2020, and the challenges of running a profit making company in a charity space.
Presenter: Chris Vallance Producer: Imran Rahman-Jones
(Image: Tim Cadogan. Credit: Getty Images)
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0:00.0 | Hello and welcome to Business Daily from the BBC World Service. I'm Chris Valens. In today's |
0:06.5 | program, I meet tech entrepreneur Tim Kudgan, who talks to us from his home in California. |
0:12.1 | My dog is trying to beat down my door. So if you wouldn't mind, I'm just going to let her out. |
0:16.8 | Sorry about that. Her timing is always impeccable. The programme has barely begun and already we've gone to the dogs. |
0:24.3 | Originally from a small village in the south of England, |
0:26.8 | Tim's worked for nearly three decades in the US tech sector. |
0:30.6 | It was meant to be for two years and it turned into 28 so far. |
0:35.9 | Just before the COVID pandemic hit in 2020, Tim became chief executive of crowdfunding website |
0:41.9 | GoFundMe, a platform that allows anyone to start a fundraiser online and ask for donations |
0:48.0 | from the public. |
0:49.2 | Medical expenses, for example, it can be going to college and looking for help from friends and family for books, |
0:55.3 | maybe tuition. It can be a new strip for your kids' sports team. GoFundMe says it's raised over |
1:01.6 | $30 billion US dollars for good causes since it started. But what's it like running this profit-making |
1:08.3 | company in the charity space, which fundraisers do well, and could |
1:12.5 | AI help people raise even more money? We don't change the authentic copy, but we help you make |
1:19.5 | that story into the best version of itself. That's all coming up on today's Business Daily. |
1:30.2 | If you've ever been asked to donate online to a charity, a sponsored event, or just a friend in need, |
1:36.5 | there's a good chance you'll have been sent a link to GoFundMe. |
1:41.6 | US crowdfunding platform GoFundMe has transformed the face of charitable giving. |
1:47.4 | Users can raise money for everything from sponsored runs to chemotherapy bills |
1:51.3 | with a number of campaigns going viral, |
1:53.7 | meaning that a specific cause catches the public imagination to such an extent |
... |
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