eBay Rebrands Missionfish the PayPal Giving Fund
By Ina Steiner
eBay has rebranded Missionfish, which it acquired in 2011, and is calling it the PayPal Giving Fund. eBay said that with today's announcement, 100% of every donation made through the program will reach nonprofits.
Charitable organizations have long used auctions to raise money for their causes, and with the advent of the Internet, many turned to online auctions on sites such as eBay to expand their reach with charity auctions.
MissionFish launched its own auction marketplace in 2000 in which proceeds went to charity. In 2003, MissionFish helped eBay create the Giving Works program so eBay sellers could donate a portion of their eBay auction proceeds to the charity of their choice; it did not support any marketplaces aside from eBay.
In Monday's announcement, Missionfish wrote, "PayPal's financial support will enable us to deliver 100% of every donation we process globally. And, it is only the start of greater things to come. PayPal will be investing in further enhancements to our platform so that we might leverage the incredible benefits of their technology and payment systems to inspire and enable more giving around the globe."
The organization also said it had generated over a quarter billion dollars for nonprofits through the eBay Giving Works and Donate with PayPal programs.
Missionfish makes it easy for sellers to donate items instead of money by auctioning items they no longer want through the eBay Giving Works program. However, eBay sellers have had some issues with the process of using Missionfish, as described in online discussion threads such as this one. "I'm ok with donating 100% of the proceeds, making no money; but I absolutely can't afford to LOSE any," wrote one seller.
In 2011, eBay established the PayPal Charitable Giving Fund, an IRS-registered 501 (c)(3) nonprofit organization to operate PayPal Giving Fund and further its charitable purpose of helping nonprofits raise funds through online commerce.
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to email@example.com.
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