?GOOD has managed to establish really the pre-eminent content platform with three million unique visitors a month,? said Chris Hughes, Jumo?s founder and a veteran of Facebook as well as a digital organizer for the 2008 Obama presidential campaign. ?They have a huge social media presence and really strong community of people excited about their product, but they haven?t had a network.?
Terms of the deal were not disclosed. Because Jumo is a nonprofit organization and GOOD is a for-profit business, the deal will require the approval of the New York attorney general, who is responsible for monitoring nonprofits established in the state. Mr. Hughes said Jumo was seeking that approval.
The merger may signal the beginning of a consolidation in the world of social fund-raising sites, which have proliferated over the last several years without any clear leader emerging. Despite a blitz of publicity that accompanied its introduction last fall and Mr. Hughes?s star power, Jumo has struggled to distinguish itself from Causes on Facebook, Crowdrise, change.org and others, and its Web site says it is still in beta testing.
Mr. Hughes said Jumo had managed to increase the number of nonprofits participating on the site to 15,000 from 3,500. ?More than one million people find nonprofits through our platform and the average user connects to 12 issues and organizations,? he said. ?We have had a really successful start.?
He said merging with GOOD would give Jumo instant access to a curated site with a rich library of content. ?We could have created more curated content for Jumo ourselves, but the question is, Why go head to head and compete with GOOD when they have had such success and have a clear interest in building a networking component into their platform?? Mr. Hughes said. ?It?s a perfect alignment of mission and people.?
Article source: http://www.goupstate.com/article/20110817/znyt05/108173007
Tags: Charity
Source: http://nonprofitwww.org/2011/08/for-profit-business-acquires-nonprofit-charity-site-2/
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