Cmarket
From Wikipedia, the free encyclopedia
cMarket provides fundraising services to nonprofit organizations. The company follows the online auction business model similar to that of eBay, with a focus on the growing segment of charities that use online fundraising [1]. The main service is a Web interface where nonprofits can set up branded websites for their auctions. Also provided is a bidding website for consumers where charities receive the proceeds from the user's purchases [2].
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[edit] About
cMarket is one of several similar ventures that includes eBay Giving (operated by MissionFish), BenefitAuctions.com, and Charity Folks. The company is based in Cambridge, Massachusetts and was founded in 2003. The idea for cMarket came following a Jimmy Fund live auction event, when it occurred to one participant that the auction items there would have a wider appeal beyond the attendees of that particular live event[3]. Since then, the company has partnered with organizations including the United Way of America and the Muscular Dystrophy Association as part of their online fundraising efforts.
cMarket charges an annual hosting fee for use of its auction software, as well as a percentage of the net online auction proceeds. Similar to other auction websites, users must register to bid, and winning bids are charged to the winner's credit card [4].
Auctions of note through the cMarket portal have included George Clooney’s Academy Awards gift bag [5] and celebrity autographed staplers [6] benefiting the Elizabeth Glaser Pediatric AIDS Foundation.
[edit] Online Auction Behavior Study
In 2007, the company released a study on charitable bidding based on the habits of 25,000 participants. Results from the study noted that the majority of bidders in Internet fundraising auctions are female, affluent, averaging in 41 years of age, are online once a day or more, and found electronics and home goods to be the most appealing auction items [7].
