Spark Foundation puts Givealittle up for sale
Spark New Zealand’s charitable arm Spark Foundation is eyeing up the sale of popular Kiwi not-for-profit crowdfunding platform Givealittle.
Givealittle, which has helped people to donate $122 million to causes over the last 10 years, has been under Spark ownership since 2012.
One of the most successful campaigns was one that helped victims from the Christchurch mosque shootings, in which $10.7 million was raised.
Spark Foundation chair Andrew Pirie says it has invested almost $8 million to cover development and operating costs for Givealittle, but it’s time to find a new owner.
“Givealittle has helped hundreds of thousands of New Zealanders donate to causes they care deeply about. The Foundation became owner when Givealittle was in its infancy and we're extremely proud to have supported the huge growth of the platform to where it is today - in that time, we've invested close to $8 million to cover development and operating costs.”
“In line with our Foundation vision to be a catalyst for positive social change, the time is right to look for a new owner to ensure Givealittle's positive societal impact can be maximised in the future. We believe Givealittle's continued growth will benefit from a new owner who can continue to support the platform and develop new services to take Givealittle to another level.”
He says Spark Foundation is open to different ownership models – and that it wants to identify the ‘best’ new owner that can help Givealittle succeed for the wider benefit of New Zealanders.
Spark Foundation's Trustees will assess all proposals before confirming whether to move to a new ownership model for Givealittle. If this results in a sale of Givealittle, any financial proceeds will go to charity, via investment in existing or new social ventures funded by Spark Foundation, Mr Pirie said.
Spark Foundation has appointed Impact Ventures as an adviser for the Givealittle process.
Impact Ventures director Chris Simcock expects there will be plenty of interest from a wide range of prospective new owners, reflecting Givealittle's strong public profile, operational track record and growth potential.
While Spark Foundation considers potential owners, Givealittle services will continue as normal.