Note: This is a summary of a story from the latest episode of The NonProfit Times TV.
MissionFish, a subsidiary of the Atlanta-based Points of Light Institute, has been working with eBay since 2003. That long-term partnership has now become more than that, with the popular online auction site purchasing MissionFish for $4.5 million. It figures to be a profitable investment for eBay: According to the COO of Points of Light, total revenue for MissionFish from 2004-2010 was $60 million; and in terms of funds raised, it has collected nearly $241 million from the US and UK over the past eight years.
So what changes will come because of this acquisition? Well for now, MissionFish will remain in Washington, DC, although that could change in the future. MissionFish users will also be able to donate proceeds from an auction to a favorite nonprofit organization. In addition, the purchase will have some useful benefits for nonprofits, as they will be able to raise money for their organizations by selling items through eBay.