Yoyomolo.com - On the path to reach $1.5 million in online donations in its first year
MONTREAL, March 18, 2013 /CNW Telbec/ - Yoyomolo, the most effective peer-to-peer online donation system, has had a smashing debut. In only six months, the new fundraising concept for everyone has distributed over $500,000 to a variety of organizations and foundations and the pace is accelerating.
With Yoyomolo, every dollar collected on the Web is deposited directly into the organization's or foundation's PayPal account. As a result, donors know that every dollar is going to the cause it has been contributed to. Yoyomolo only collects a six percent surcharge, which includes the PayPal or credit card transaction fees, making it one of the most effective philanthropic funding solutions around.
Yoyomolo is different from other popular platforms in the United States that require users to reach a specific monetary objective in a predetermined time. If it is not reached, the money is returned to each donor, minus administration fees. Organizations often end up empty-handed.
"We hope to collect over $1 million over the next 12 months to help organizations, groups, sports teams, arts collectives and foundations, all of whom dearly need it right now, when fundraising is so tough," said Benoit L'Archevêque, founder and CEO of Azzimov Mobile and co-founder of the Yoyomolo.com platform by ODE Technologies.
Yoyomolo: a platform based on a system tried and tested for years, now available to all
Yoyomolo was built on ODE Technologies' high-performance platform. This platform allows organizations to create as many events as they wish, on their own, with no technological knowledge required. "We wanted to see smaller organizations—everyone really, sports teams, cultural activities, you name it—taking advantage of the same powerful tools the big foundations use, via our ODE Technologies platform," said Pierre Gagnon, president of Génération-Pub and co-founder of ODE Technologies.
More than a simple online donation formula, Yoyomolo is proof that there is strength in numbers.
With Yoyomolo, you can start up any number of campaigns, and create any number of teams in each. Within each team, moreover, you can add an unlimited number of participants—all on your own. "When we created Yoyomolo, we wanted to reverse the pyramid so that the public could be active in fundraising rather than leaving the job to a few individuals who had to do all the work and collect donations," said L'Archevêque. "With Yoyomolo, every activity is divided up among the participants themselves and their team leaders, freeing foundations and organizations from the task and multiplying results to a spectacular degree."
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