In a recent Businessweek story on widgets, Joe Green from Project Agape discloses a revenue figure for Causes:
Project Agape takes a different tack with its Causes application, which raises awareness and money for nonprofits and other causes. The service takes a 4% transaction fee on contributions raised through the application. Since launching nearly a year ago, the application has generated more than $2 million in donations. Causes also sells ads to companies that want to be associated with these nonprofit endeavors. “A lot of [our revenues] come from the huge expanding world of cause-based marketing,” says Project Agape co-founder Joe Green. “Companies care a lot about how they are viewed in terms of causes.”
Hat tip to the Social ROI blog
That’s only $80,000 revenue from $2 million in donations. Clearly, Project Agape is still going through its initial investment. The size of that investment is unknown.
Update 4/25/2008:
digitalmediawire reports:
Project Agape, which is developing “a platform for large-scale political and social activism on the Internet,” has raised $5 million in its second round of venture capital financing, PEHub.com reported, citing a regulatory filing.
Investors included Founders Fund, which also backed the company’s $2.35 million first round; Project Agape co-founder Sean Parker is a partner at Founders Fund.
User interest in Causes has dropped to around 80,000 active users per day from its high during November of last year of 400,000 users per day.
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