People raised over $5 billion through fundraisers on Facebook, Instagram

The CEO of Facebook Mark Zuckerberg, earlier this week announced this himself that people have raised more than $5 billion through these fundraisers.

Facebook introduced the fundraising and donation tools in 2016 which was first only available in the US but later tech giant introduced it to other countries.

Later on, Facebook developed new tools for fundraising for personal causes on Instagram as well.

Earlier in 2020, during the global pandemic, people raised more than $175 million for COVID-related fundraisers on Facebook and Instagram.

Moreover, Facebook claims that it has developed these tools only for their users to host and donate and doesn’t earn a penny from all this.

Which means, these fundraising tools from Facebook are non-profitable features for the app.

Interestingly, Facebook’s $5 billion fundraising money is even higher than GoFundMe which is a crowd funding site which was able to generate to a total of $150 million through individual donations last year.