Kickstarter and GoFundMe are about to have their work cut out for them. For the past several years, these popular crowdfunding sites have dominated the market. But now, there's a new kid in town.
Well, not "new" per se. Facebook has obviously been around for a long time. But crowdfunding is the next big thing for the social media giant.
To be honest, it's surprising that Facebook took so long to get into this game. Especially since a key element of a crowdfunding campaign is how it's shared and promoted.
With Facebook's new fundraising tool, promoting your campaign happens with just a click of a button. It's easy to tag friends who might also be interested, and it's easy to share.
The tool was designed with nonprofit organizations in mind, as well as smaller organizations that encounter challenges when trying to raise money for their cause. Fundraisers can be for anything. Raise money for disaster relief, to polar bears, or to help find a missing child.