Facebook fundraising tools collect more than $2 billion

Facebook fundraising tools collect more than $2 billion
© Getty Images

More than $2 billion has been raised over Facebook for various charitable causes since the platform launched its fundraising tools in 2015, the company said Thursday.

In a blog post, Facebook executives said that the rate of fundraising on the platform was increasing, with the number of fundraisers on the platform doubling since November of last year.

ADVERTISEMENT

"Thank you to everyone who supported these causes, and so many others. We know that $2 billion is just the start to the amount of impact our community will have," Facebook wrote in its blog post.

The site's new birthday fundraiser tool alone saw $1 billion raised, allowing users to notify all users on their friends list about a charity fundraiser on their birthdays.

"By dedicating their special day to a nonprofit organization, people rally their friends and family to support important causes. From birthdays and Giving Tuesday to anytime throughout the year, over 45 million people have donated to or created a fundraiser on Facebook — which has more than doubled since last November," the blog post read.

Nancy Frates, a board member of the ALS Association credited with coming up with the viral "Ice Bucket Challenge," called the announcement a "win-win-win" in an interview with USA Today.

"It’s a win for the donor who can give within the platform. It's a win for the nonprofit because the amount raised can be quite substantial, and it's a win for the people being served," Frates said. "A dollar raised on Facebook is a dollar that can be used in the service because there are no fees associated with it."