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Highlights:
- On Friday, February 4, the online fund-raising platform said that it blocked the donations received for Freedom Convoy 2022 protests.
- Notably, the organizers of the Freedom Convoy 2022 protests had raised more than C$ 10 million through GoFundMe.
- According to GoFundMe's website, it has a community of over 50 million donors and has helped campaign organizers raise over US$ 5 billion.
GoFundMe, the California-based crowdfunding platform, has caught the attention of both investors and protesters after it blocked donations received by Freedom Convoy 2022 protesters.
As the protest against vaccine mandates intensifies in Canada, the online fund-raising platform has blocked donations citing violation of their terms of service.
According to reports, a committee of the Canadian Members of Parliament (MPs) has voted to summon representatives of GoFundMe to answer questions over the funding platform's ability to screen out hate campaigns.
Notably, the organizers of the Freedom Convoy 2022 protests had raised more than C$ 10 million through GoFundMe.
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On Friday, February 4, the online fund-raising platform said it blocked the donations as they initially believed the protest was peaceful. However, evidence from law enforcement agencies suggests there was violence and unlawful activities.
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As a result, GoFundMe will automatically refund the amount, and the donors won't have to submit any request for getting back the refund.
The organizers of the protest are reportedly using other platforms for fund-raising. One platform was set up by Tamara Lich, one of the organizers, and it gathered around C$ 1 million.
Is the GoFundMe IPO happening & can you buy its stock?
GoFundMe has not announced its initial public offering (IPO) plans, and it is highly unlikely that GoFundMe IPO will happen in the near future.
As it remains a private company, retail investors can't buy the GoFundMe stock.
According to GoFundMe's website, it has a community of over 50 million donors and has helped campaign organizers raise over US$ 5 billion.
Bottom line
In Canada, truckers are not satisfied with the vaccine mandate while crossing the US-Canada border. As per the vaccine requirements, truckers in Canada must show their vaccination proof to cross the border.
If they are not vaccinated, they are required to undergo a COVID-19 test and stay in quarantine when they return from the United States.
Due to the ongoing protests, the Ottawa mayor announced a state of emergency, which reflects that there's danger and threat to the safety and security of city residents.
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