Published 04-07-09
Submitted by BiddingForGood
Cambridge, Mass. - April 7, 2009 - cMarket Network, the leader in online auction fundraising for nonprofit organizations, announced today a record quarter for online auction sales resulting in an additional $6.3 million dollars raised for schools and nonprofit organizations across the US, bringing the total raised since inception to over $60 million. In addition, the number of charities running online auctions increased by 46% over the same period last year signaling a continuing shift in nonprofits adapting to the economic recession by moving some or all of their fundraising events online to take advantage of increased bidder reach, newly available donated items and better measurability.
According to Jon Carson, CEO of cMarket Network, all areas of the company are seeing similar growth as the supply and demand model of auctions draws various sectors together, including product and service vendors and cause minded consumers.
"The cMarket Network has evolved into a 'virtuous circle' where charities, item donors, and consumers all benefit from each other, and the more they do, the larger the network becomes. BiddingForGood.com saw 400,000 unique visitors in March and over 900,000 for the quarter. That's a very attractive market to product and service vendors who, by donating excess inventory or products into the auctions receive valuable exposure, paying customers, measurable marketing data and quantifiable ROI. The more products in the auctions, the more bidders will bid and the more money goes to charities. It's a win/win/win."
In Q1, cMarket achieved a number of milestones:
About cMarket Network
cMarket is the leading online auction platform solely for organizations engaged in fundraising for nonprofit causes. With more than 5,000 customers, online auctions powered by cMarket have generated measurable successes and tens of millions of dollars by allowing organizations, both large and small, to better optimize their auction fundraising model and at the same time, build mission awareness and heightened caring for important causes.
cMarket services national nonprofit organizations such as the United Way, Muscular Dystrophy Association, Phillips Andover, Junior Achievement, National PTA, and hundreds of local schools, among others. cMarket also works with companies including Ford, UGG Australia, Reebok, Kimberly-Clark and General Electric to raise funds for their nonprofit causes.
You can experience cMarket at www.BiddingForGood.com, its consumer website that aggregates hundreds of auctions under one powerful umbrella for thousands of cause-minded bidders. cMarket is headquartered in Cambridge, Mass. For more information, visit www.cmarket.com.
BiddingForGood is the leading cause based e-commerce platform solely for organizations engaged in auction fundraising for nonprofit causes. With more than 8,000 customers, online auctions powered by BiddingForGood have generated over $75 million for non-profit organizations by allowing them to expand their bidder universe to include their entire constituency AND the 150,000+ BiddingForGood bidder community. Clients also secure more items by delivering a stronger and more measureable marketing value to item donors to ultimately raise more money from more participants.
The company also works with dozens of brand marketers through its unique product advertising program to enable them to efficiently reach affluent donors just as they are spending in a trusted environment. The marketplace can be experienced at www.BiddingForGood.com.
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