From crowd funding to fundraising - it's now a go on your Facebook page:
Bottom Line: Crowd funding and fundraising now have a huge new social platform to call home. Yesterday Facebook initiated a feature that has the potential to be a blessing and perhaps a curse as well. It's Facebook's new "Donate" feature. Going forward you'll be able to seek to obtain donations for charitable purposes and crowdfund directly through Facebook. Here are the finer points:
- All requests will have to be submitted to Facebook for review
- Facebook reserves the right to approve or decline all applications of use of the new features
- If Facebook approves they'll receive 5% of all donations for processing & verification
If you're thinking that some of this already exists you're right. Facebook has allowed fundraising but only by verified non-profits. This enables individuals to do the same. That's the potential for the blessing and also perhaps the curse (if you're already inundated by fundraisers...you can see the potential of what this could lead to with your friends, contacts & followers).