Charitybuzz

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Charitybuzz
Charitybuzz logo
Type of business Private
Founded 2005
Headquarters New York City, USA
Key people Coppy Holzman (CEO, Founder)
Industry Online Charity Auctions
Website charitybuzz.com

Charitybuzz is a for-profit internet company that raises funds for nonprofit organizations through online charity auctions with celebrities and brands.[1] Auction experiences include music, entertainment, business, politics, sports, art, fashion and other industries.[2]

The company was founded in 2005 by CEO Coppy Holzman, and board members Brad Reisner and Serena Chew. As of December 2016, the company has raised more than $200 million for charity through its website with more than 3,200 nonprofits partners.[3][4][5]

Origins and history[edit]

CEO Coppy Holzman founded Charitybuzz out of his Westport, Connecticut home in April 2005. After a conversation with Chevy Chase and President Bill Clinton at a reception to benefit the Clinton Library in late 2004.[6] He launched Charitybuzz a few months later with one employee and a directive from Chase to raise funds for The Center for Environmental Education. Holzman and his team persuaded 70 celebrities and luxury brands into donating meet-and-greets, VIP tickets, vacations and other gifts for the company’s first auction. The first experience auctioned was a Caddyshack golf outing with Bill Murray and Chase.[6] After a segment with Chase on the TODAY show, the online auction site raised $250,000 within two weeks.[7] After its initial success, Charitybuzz's business grew quickly through word of mouth.[6]

Holzman ran Charitybuzz part-time until the fall of 2007, when he committed to operating the business full-time and moved the company out of his home and into an office space. In 2008, he registered charitybuzz as a sub-chapter S in Delaware and secured a board of directors which included Kerry Kennedy, Peter Borish, Jonah Goodhart, Jon Melzer, Stuart Sundlow, and Jayni Chase.[8]

Soon after, during the height of the recession in 2009, the company marked $100 million in bids and one million unique visitors.[6] By 2010, with more than 1,500 online charity auctions complete, Charitybuzz doubled in size by expanding its focus to include corporate philanthropy support. The company subsequently moved its headquarters and staff from Connecticut to an 8,000 square foot office at 437 Fifth Avenue in New York City. [9][10][11] [12][13][14]

In early 2012, Charitybuzz added Macy’s Chief Stores Officer Peter Sachse to its Board of Directors.[15] In 2012, Charitybuzz launched a new celebrity concierge service for charity called "Do Good Dream Big," where bidders could request customized celebrity access for a minimum donation of $20,000.[5]

Charitybuzz unveiled an updated logo in an updated logo in April 2013. In September 2013, Patrick Farrell was appointed Chief Operating Officer, a new position within Charitybuzz [16]

In November 2013, Charitybuzz marked $100 million raised for nonprofits and celebrated by ringing the bell at the New York Stock Exchange on Black Friday. [17]

In 2014, Charitybuzz raised $30 million for its nonprofit partners, bringing its total raised since inception in 2005 to $130 million. Celebrities including Bruce Springsteen and Matthew McConaughey supported their favorite causes to raise money for organizations including the RFK Center for Justice and Human Rights, Gabrielle’s Angel Foundation for Cancer Research, WhyHunger, Sweet Relief Musicians Fund, The Kristen Ann Carr Fund and more. The top lots from 2014 included the opportunity to meet Sir Paul McCartney backstage which sold for $105,000 for the MTV Staying Alive Foundation and Coffee with Journey's Steve Perry which sold for $75,000 to benefit City of Hope.[18]

Business model[edit]

By auctioning luxury items and celebrity-backed experiences through the internet to bidders worldwide, Charitybuzz is able to raise funds for foundations and non-profits.[19] Charitybuzz's staff of 40 provides auction services for more than 3,200 nonprofit clients, as well as cause marketing support for many for-profit brands looking to enhance their corporate philanthropy programs.[6]At the end of each auction, Charitybuzz keeps 20 percent to cover its operating costs.[10]

Offerings auctioned[edit]

Charitybuzz auctions have included:

References[edit]

  1. ^ Boyd Meyers, Courtney. "Lunch with Luke Skywalker? charitybuzz announces its holiday auction". The Next Web. Retrieved 18 November 2011. 
  2. ^ "Charitybuzz Home Page". Charitybuzz. Retrieved 13 June 2012. 
  3. ^ https://www.charitybuzz.com/partners
  4. ^ Grant, Rebecca. "Charitybuzz Raises $100M For Good Causes By Auctioning Celebrity Experiences". VentureBeat. Retrieved 25 November 2013. 
  5. ^ a b Garcia, Courtney (5 June 2012). "Charitable group offers "concierge" access to stars". Reuters. Retrieved 5 June 2012. 
  6. ^ a b c d e Moran, Gwen. "Charitybuzz's Big Idea: Altruistic Online Auctions". Entrepreneur. Retrieved 6 January 2012. 
  7. ^ Sweet, Katherine. "Charitybuzz: Online luxe auctions that make a difference". Lady Luxe. Retrieved 18 February 2011. 
  8. ^ "Charitybuzz". Crunchbase. Retrieved 12 June 2012. 
  9. ^ Souccar, Miriam. "Charitybuzz, in growth mode, moves to Manhattan". Crain's New York. Retrieved 22 September 2010. 
  10. ^ a b Cole, Patrick. "Jay-Z's New Year's Eve, LeBron Jersey Fuel Charitybuzz Auctions". Bloomberg. Retrieved 27 December 2010. 
  11. ^ Hacket, Larry. "Editor's Letter". People Magazine. Retrieved 29 November 2010. 
  12. ^ Michaud, Chris (19 January 2011). "Artists, designers join forces for green auction". Reuters. Retrieved 19 January 2011. 
  13. ^ Zinderman, Carly. "Charitybuzz and Audemars Piguet Watches Join Forces for Charity". International Business Times. Retrieved 28 May 2010. 
  14. ^ "Have Jessica Simpson's Christmas Tree in Your Home this Holiday". People StyleWatch. Retrieved 10 November 2011. 
  15. ^ "Peter Sachse Joins Charitybuzz Board". WWD. Retrieved 26 March 2012. 
  16. ^ https://finance.yahoo.com/news/charitybuzz-names-patrick-farrell-chief-120000901.html
  17. ^ http://livestream.com/NYSE/Charitybuzz
  18. ^ https://www.charitybuzz.com/press_releases/741
  19. ^ Sniderman, Zachary. "What Makes the Most Influential Social Good Champtions Tick?". Mashable. Retrieved 10 December 2010. 
  20. ^ Levinson, Mason. "Jeremy Lin's Knicks Jersey From Kobe Bryant Contest Auctioned For $42,388". Bloomberg. Retrieved 22 February 2012. 
  21. ^ a b c d e f g h i j Prois, Jessica (23 February 2012). "Bill Clinton Pulls In Highest Bid In CharityBuzz Celebrity Auction". The Huffington Post. Retrieved 23 February 2012. 
  22. ^ Palmeri, Christopher. "Vanity Fair Oscar Party Invites Draw $100,000 Prices At Charity Auctions". Bloomberg. Retrieved 9 February 2012. 
  23. ^ a b c Weisman, Aly. "Presenting the Most Over-the-Top Expensive Celebrity Charity Auctions of the Year". Business Insider. Retrieved 29 December 2011. 
  24. ^ a b c d e f g h i j k l m n "Jay-Z Tops List of Super Celebrity Fundraisers of 2010". Tonic. Retrieved 27 December 2010. [permanent dead link]

External links[edit]