Leading charity crowdfunding platform JustGiving to be acquired by Blackbaud
We're thrilled to hear that high impact business and ClearlySo client, JustGiving, will be sold for £95 million.
Blackbaud, Inc., the world’s largest cloud software company powering nonprofits and other social good organizations, today announced that it has entered into an agreement to acquire United Kingdom-based online fundraising services provider JustGiving™, whose online social giving platform has played a powerful role in the growth of peer-to-peer fundraising.
Under the purchase agreement for the transaction, Blackbaud has agreed to acquire all of the outstanding equity interests of JustGiving for an aggregate purchase price of £95 million, subject to certain adjustments. The closing of the transaction is anticipated to occur at the conclusion of a customary regulatory review in the U.K. Blackbaud expects to finance the acquisition with cash on hand and borrowings under its existing credit facility.
JustGiving has been a leader in peer-to-peer fundraising for both nonprofit organizations as well as individuals (also known as personal crowdfunding), with people in 164 countries raising over $4.5 billion for good causes through its online platform since 2001.
Reacting to this announcement, John Lloyd, ClearlySo’s Chief Marketing Officer, said: “ClearlySo was founded with one simple aim – “to help create and fund 100 JustGivings”. We are incredibly proud today that the original JustGiving, a client of ours, is being acquired by Blackbaud for £95 million! To see a business as socially impactful as JustGiving exit is great for the entire impact investing market!”
You can find out more about the sale here.