CharityBuzz raises USD100 million for good causes
New York-based online auction site CharityBuzz reached a USD100 million landmark in its fundraising efforts for good causes. The site gathered 50,000 auctions and contributions from 100,000 people before it hit the said milestone. This was according to a report published by VentureBeat.
CharityBuzz raised the said fund by auctioning off possessions and time of famous people such as President Clinton, Oprah, Lady Gaga, James LeBron, and George Clooney. Of the participants, Tim Cook got the highest bid of USD610,000, the report said.
The site mostly caters to rich people who are willing to pay lofty prices to meet celebrities for a good cause. CharityBuzz supports 2,271 charities including UNICEF, St. Jude's Chilren's Research Hospital, Boys and Girls Clubs, Breast Cancer Research Foundation, the Children's Health Fund, and the Humane Society. The auction site keeps 20% of all its sales, the report stated.
CharityBuzz was founded by its Chief Executive Officer Coppy Holzam in 2005. To date, the site has raised USD5 million, VentureBeat reported.