Facebook launches personal fundraising tool

You have some big new competition in the fundraising space. But now you can turn to Facebook instead, as the social network launches a new "personal fundraiser" feature, as well as Donate buttons in Facebook Live for Pages.

The feature is pretty much a beat-for-beat copy of GoFundMe, which has become the go-to crowdfunding site when raising money for personal causes. "Our charitable giving tools have made it easy for people to raise millions of dollars for nonprofits to support those in need directly on Facebook", said Naomi Gleit, VP for social good at Facebook, in a post. Any user 18 or older will be able to set up a personal fundraiser, which Facebook hopes will be a way for people to more easily reach potential project backers like close friends and family members.

One big question: It's unclear if Facebook takes a portion of the proceeds raised.

The next time you want to raise money, you'll be able to do it on Facebook. The company did not immediately respond to a request for comment on these aspects of the tools. For example, we will begin with six specific categories for critical financial needs and include a 24-hour fundraiser review process.

Facebook says it is aiming to automate "more of the review process" and that it plans on expanding to more categories in the future.

Facebook first tested its "fundraisers" feature in 2015 with 37 charities, including Mercy Corps, National Multiple Sclerosis Society and World Wildlife Fund. To enhance this feature, Facebook announced on Thursday that verified pages may now add donate buttons to their Facebook Live broadcasts.

  • Arturo Norris