How GoFundMe became America’s backup plan
Today on Decoder, I’m talking with Tim Cadogan, the CEO of GoFundMe. You know GoFundMe — it’s a major fundraising platform where you can donate to help people with everything from medical expenses to little league uniforms to starting a new business. Tim took over as CEO in March 2020 — a fascinating and chaotic […]
Tim Cadogan, the CEO of GoFundMe, joined the company during the height of the COVID-19 pandemic in March 2020. At that time, the platform was already facing significant challenges in 20 countries, including Italy, which was one of the first European nations to experience major impacts. The company's primary mission was to help people aid one another during various life situations, ranging from severe medical expenses to lighthearted endeavors like college tuition or supporting a little league team.
The pandemic brought forth unprecedented challenges, as millions required assistance due to medical issues, job loss, or the closure of small businesses. GoFundMe witnessed a surge in fundraising efforts to support local restaurants, bars, and music venues, as well as other small businesses grappling with the economic fallout. Handling the influx of new fundraisers posed a considerable challenge, as traditional know-your-customer (KYC) and know-your-business (KYB) processes proved difficult to implement for such a vast number of requests.
Cadogan and his team collaborated with payment processors to adapt and address this surge in fundraising activities. The pandemic marked a critical juncture for GoFundMe, solidifying its position within American culture and, by extension, the global stage.
Written by urgent.news from The Verge's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
