TheGivingMachine
| website: | http://www.thegivingmachine.co.uk |
Possibility for investment
 |
Company details
[Login to edit this information]What does it do?
TheGivingMachine™ enables online shoppers to generate free cash donations to the causes they choose. As of mid 2010 TheGivingMachine community consists of over 21,000 Givers supporting over 3,000 UK charities and schools when shopping at over 260 participating online shops.How is it social?
Shoppers become 'givers' who give money away for free. Givers are reminded who they are supporting every time they shop online and can support up to 4 entities, so there is not an exclusive arrangement for any one beneficiary.
What is its business model?
UK online retailers offer a commission for online retailing. TheGivingMachine (TGM) takes this commission and converts it into donations, so that both shoppers and retailers are giving to charity with every online purchase made via the site. To maximise the benefit to schools and charities, TGM retains only 25% of the sales commissions generated (this is the UK average for fundraising) and turns the remaining 75% into donations.
To keep costs down, TGM operates virtually and borrows meeting rooms when needed. It was funded by its four founders via loans rather than via investments. There are a number of areas where the firm is planning to expand, but the first focus is to reach targets for the number of registered givers who regularly use the site to shop.
TGM is not-for-profit organisation and registered member of the Institute of Fundraising.
Its history
In 2006 there was a local pilot in Bishop's Stortford area with about 10 beneficiaries. In 2007, after a successful pilot, TGM prepared for national launch. In June 2007 the company launched the site and by April 2008 more than 650 Schools and charities were benefitting from TGM.
More information
| Current shareholders: | 4 equal shareholders |
| Chair: | Richard Morris |
| Year of incorporation: | 2006 |
Company snapshot
| Company type: | Ltd |
| Address: | 14a Grange Park, Bishop's Stortford, Hertfordshire, GB, CM23 2HX |
| Telephone: | 0845 296 0028 |
| Blog: | |
| CEO: | Richard Morris |
| Industrial sector: | Charitable services and fundraising |
| Social / Environmental benefit: | Community development; Charity and social business/enterprise support; |
| Certifications: | Not Applicable; |
| Social business sector: | Other; |
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