Australia based Chuffed, a donations crowdfunding site that only launched in October 2013, has shared they have hurdled the $1 million AUS mark. In a posting on the companies Facebook page Chuffed commented on their success;
ONE. MILLION. DOLLARS! Yep, that’s how much you’ve donated to Chuffed campaigns in the last 11 months.
We originally thought the million dollar milestone would take us 15 months to 3 years – the same as other donation/crowdfunding platforms.
Clearly we underestimated the generosity of all of you.
While this is just the beginning, the fact that we’ve hit this milestone so early gives us an immense amount of confidence that we’re building something that does justice to the awesomeness of the social sector and the work that all of you do.
So thank you. For making this possible. A million times over.
And a special thanks to The Telstra Foundation for believing in us back when we were just a few kids with an idea and a powerpoint presentation. You guys rock.
Chuffed CEO Prashan Paramanathan was quoted in ProBonoAustralia on the achievement;
“We based our financial projections on other fundraising platforms that took anywhere between 15 months to 3 years (or longer) to hit their first million, so we’ve been pleasantly surprised just how quickly the Australian social sector has taken to crowdfunding”, Chuffed.org CEO Prashan Paramanathan said.
“At first it was just the smaller organisations trying out crowdfunding for small $5,000 to $10,000 campaigns. But increasingly we’re seeing mid-sized organisations like OzHarvest and ReachOut.com dabbling with crowdfunding.
“It won’t be long before we see the big $100m+ organisations trying it out too.”
It was also reported that one of the earliest entrants into donations based crow funding, MyCause has raised approximately $30 million AUS since their founding in 2007.