Change.org Raises $15 Million From Omidyar Network and Uprising
Change.org is a petition website that has over 25 million users that has raised their first large round of outside funding after starting six years ago. The company raised $15 million in a round of funding led by Pierre and Pam Omidyar. Pierre Omidyar is known for being the founder of eBay. Pierre and Pam used the wealth that they attained from eBay to launch the philanthropic initiative company Omidyar Network. Another investor in this round of funding was from Uprising.
The Omidyar Network will be taking a minority and non-controlling stake in the company with a disavowal of a payday from a sale or IPO. Change.org has no intention of doing any of these things. Rattray has been talking to the Omidyars over the past seven years, but the opportunity came up recently.
“There’s this latent uncertainty about whether it’s possible to build a company focused on a mission, and we’re proving it’s possible. It’s not an open question, it’s pretty clear that we’re having substantial impact. People have a binary perspective of an organization. It’s an impoverished perspective of the possibility of business to change the world,” stated Change.org Ben Rattray.
Change.org hit $15 million in revenues last year from sponsored petitions and organizations can pay to get their causes in front and center on the website with the hopes of collecting a lot of signatures and e-mail addresses. Change.org currently has 170 employees in 18 countries.