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[4] [5] The site was built off of PayPal's API. [6] GoFundMe was founded in San Diego, California. [7] In March 2017, GoFundMe became the biggest crowdfunding platform, responsible for raising over $3 billion since its debut in 2010. The company receives over $140 million in donations per month and made 2016 $100 million in revenue. [8]
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The proliferation of such campaigns reflects "the way people have been struggling with prices that have risen over the past few years," GoFundMe CEO Tim Cadogan told CBS MoneyWatch.
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GoFundMe said more people are using its crowdfunding site to pay for "essential expenses" like housing and food based on their annual "Year in Help" report released earlier this week.