Instagram is launching a new feature called “Personal Fundraisers” that allows users to raise money for themselves. The new feature will be available in beta for Android in the US, UK and Ireland, and will later be available for iOS, giving them the ability to create their own campaign fundraising and raise money for personal causes by tapping “Edit Profile,” “Add Fundraiser” and “Raise Money”. Users will also be able to add a photo, choose one of the existing categories and write a few words about the cause they are raising money for. For example, Instagram users can fundraise for medical emergencies (medical expenses), hobbies, business support and more. Users must be at least 18 years old. Each fundraiser will run for 30 days, with the option to extend, and the reasons for the fundraiser must be specific. Before a fundraiser is announced and funds are raised, Instagram will review and approve both the purpose and all of the information provided.
Facebook ,which owns Instagram, already allows its users to run fundraising campaigns. Nonprofits registered as businesses on Instagram can already raise money through Stories and Live videos. The test means fundraising is now coming to profiles that aren't registered as businesses.
According to Facebook, donations have exceeded $100 million since January for causes related to the COVID-19, while donations to support the “Black Lives Matter” protesting for racial justice have also increased.
Other digital companies have come up with new fundraising tools. For example, Yelp partnered with GoFundMe to integrate a donation button directly into the platform.
Having donation options directly in the Instagram app makes the process of raising money for the different causes that each user may be interested in much more seamless, immediate, and effective. However, this new addition to Instagram could be “bad news” for GoFundMe, considered the # 1 fundraising platform, as it may now no longer be in the first place in popularity.
