Couchsurfing accepting a $7.6 million investment

http://www.forbes.com/sites/nicoleperlroth/2011/08/24/non-profit-couchsurfing-raises-millions-in-funding/

excerpts :

CouchSurfing.org, a non-profit website that connects global travelers with locals, has opted to accept $7.6 million in funding from Benchmark Capital and Omidyar Network. In conjunction with the funding, CouchSurfing will convert from its non-profit status to that of a B Corporation. (The B stands for “benefit.”) Benefit Corporations are for-profit businesses that define themselves as socially responsible to investors and consumers.

It will also allow the start-up to begin profiting off its three million large member base. Until now, CouchSurfing’s only revenue stream was its paid identification verification service which charges members a tiny fee to prove they are who they say they are. Hoffer insists CouchSurfing will continue to make its service free to users and is currently exploring alternative revenue streams. The first order of business, Hoffer says, will be “aggressive hiring”  especially at the technical level. Until now, CouchSurfing has bootstrapped its 30-employee organization with the help of thousands of passionate volunteers who set up CouchSurfing “meet-ups” around the globe.

//

Thanks Tilman for this info and link to Veit's post!

---------- Forwarded message ----------
From: Tilman Bauer <tilman@hospitalityclub.org>
Date: Fri, Aug 26, 2011 at 4:47 PM
Subject: Re: [hc_ecology] Couchsurfing changes to "socially responsible B Corporation"
To: dante.monson@gmail.com, econowmix@googlegroups.com, 

Hi all!

In light of the shocking news of Couchsurfing accepting a $7.6 million investment and becoming a for-profit company, HC founder Veit wrote a statement that the Hospitality Club will never be a for-profit business, and that we are currently developing an open-source website for HC. See the statement here: http://volunteerwiki.hospitalityclub.org/couchsurfing-for-profit-business-now

Greetings,

Tilman


On Fri, Aug 26, 2011 at 2:24 PM, Dante-Gabryell Monson <dante.monson@gmail.com> wrote:
 

" 1999-2011 CouchSurfing International, Inc. — A socially responsible B Corporation "



---------- Forwarded message ----------
From: CouchSurfing Communications <noreply@couchsurfing.org>
Date: Fri, Aug 26, 2011 at 2:57 AM
Subject: [CS announcement] A new era for CouchSurfing!
To: dante.monson@gmail.com


           A new era for CouchSurfing!                         
FROM
CouchSurfing Communications
CouchSurfing Communications
San Francisco
California
United States
  • Member since: January 12th, 2008
  • Age: 61
  • Gender: Several people
  • Username: COUCHSURFING COMMUNICATIONS
  • Couch Available: No


     Hello CouchSurfers!

We started CouchSurfing with a crazy idea in mind. We thought that maybe, just maybe, the world could be changed one couch at a time. 5,766,182 inspiring experiences later, we couldn't be more sure of it.

What you’ve done as a community has inspired us to take our mission and our vision to a whole new level. We want to understand what inspiring experiences are made of, so we can enable you to have more of them. We want to make CouchSurfing easier to use so that anyone who’s interested in changing the world one couch at a time will feel welcome here.

To accomplish this, we’re making a big change in structure. As of today, CouchSurfing is proud to announce that we are joining the growing ranks of certified B Corporations.

What does that mean? As a B (Benefit) Corporation, CouchSurfing will be part of a group of innovative businesses that deliver products and services with a commitment to social and environmental responsibility, transparency, fair work conditions, and doing good for the world.

Want to learn more?

Watch some quick videos explaining this new change

Read the full article on our website

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© 1999-2011 CouchSurfing International, Inc. — A socially responsible B Corporation


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