Facebook Introduces New Crowdfunding Feature

Facebook has introduced a new crowdfunding feature, similar to crowdfunding sites like GoFundMe, allowing users to raise money for particular causes.

Facebook announced a new tool titled “Personal Fundraiser” in a blog post this week. The new tool allows users over the age of 18 to “raise money for themselves, a friend or someone or something not on Facebook.” The announcement listed a multitude of users for the new feature such as:

• Education: such as tuition, books or classroom supplies

• Medical: such as medical procedures, treatments or injuries

• Pet Medical: such as veterinary procedures, treatments or injuries

• Crisis Relief: such as public crises or natural disasters

• Personal Emergency: such as a house fire, theft or car accident

• Funeral and Loss: such as burial expenses or living costs after losing a loved one

The tool will be tested across the US in coming weeks and may be rolled out worldwide based on the results, with new categories potentially being added over time. Users that have an officially verified Facebook page will also be able to attach donate buttons linked to non-profit charities on their Facebook videos.

Facebook will be running a 24-hour fundraiser review process in an attempt to protect users from possible rip-off or scam campaigns. Facebook fundraisers will also be linked directly to the profile of the creator, allowing donors to see how they are connected with the person that created the fundraiser adding another level of security.

This is the second feature that Facebook has adopted from another website in recent months. The company recently introduced their new “stories” feature which has been compared by many to Snapchat’s signature feature.