As the world makes a dramatic shift from cash and cheques to punching in 16-digit Visa numbers online, one internet company has benefitted immensely from this trend. PayPal, the world's premier solution for online payments, has grown from around 2 million daily unique visitors at the start of 2009 to more than 8 million today. And all the charts point to this number growing only further. The company, founded in 1998 and bought by eBay four years later, is kind of like the Apple's iPad right now: there just isn't any competition.
Fools will try to topple the tower, but a clever mind will see the greatest opportunity is in collaborating with the goliath. FundRazr, a once-modest fundraising application born out of Vancouver, has done just that.
But why stop there? Why not also tap into Mark Zuckerberg's social networking giant, Facebook, with its 500-million-and-growing users? A pretty wise idea, most would agree, and its FundRazr's other collaboration.
Having these three businesses sit together at a table a year ago, it would be obvious to tell who doesn't appear to fit in. That tiny little FundRazr fellow, with his fairly new, relatively unheard-of app that may or may not assist some organizations or individuals in raising a few bucks.
Fast-forward to today, however, and FundRazr is one of the big boys.
FundRazr, which began in late 2008, has now re-launched its app with its vast new improvements. But even with big-time collabs, that doesn't automatically make something better—execution still matters.
Daryl Hatton, the ambitious co-founder of FundRazr, told Techvibes that one of the app's claims to fame is that it's one of the first apps to take full advantage of social media, a relatively new phenomenon that, if you think about it, is the perfect companion to online fundraising. The app installs directly into Facebook, and will soon be able to run on blogs and websites in some rather creative, but currently secret, manners.
Daryl, who has been invited to speak at the BC Innovation Council's CONNECT Conference in October, likely as part of a tag-team involving execs from Paypal and Facebook, says that FundRazer is an "obviously good use" of Facebook and PayPal. By tapping into Facebook's huge user base and feeding off its extreme popularity, and combining with PayPal's quick and simple payment solutions, FundRazr makes it naturally easy to fundraise, both personally and for non-profit organizations.
Daryl says PayPal is excited about the move because fundraising is largely commerce now, but has the potential to be e-commerce. And that's PayPal's bread and butter.
FundRazr's initial target demographic is individuals and small groups, such as sports teams and church groups. In the near future, Daryl says FundRazr will incorporate features that can employ non-profits and even political candidates with the means to run their own FundRazr-based campaign. The issue there, though, Daryl says, is that donors for non-profts and political campaigns must forfeit more private information for legal purposes. But FundRazr has plans to make this as quick and simple as possible.
Highly innovative and integrated with some of the world's leading online companies,, FundRazr is poised to raise the bar for the online fundraising market—and with the two finest collaborators already seized up, what's left for the competition?
Follow closely Facebook, PayPal, and FundRazr for some underground news to rise to the surface over the forthcoming weeks—or just follow Techvibes!