Ripple effect in fundraising

CELEBRITY STATUS: Mikko Passananti, left, CEO of Ripple, and Eric Maybaum, president, are seen in their Providence office. / PBN PHOTO/MICHAEL SALERNO
CELEBRITY STATUS: Mikko Passananti, left, CEO of Ripple, and Eric Maybaum, president, are seen in their Providence office. / PBN PHOTO/MICHAEL SALERNO

Social media and celebrities are two powerful ingredients in a new Providence company’s plans to direct ad revenue to philanthropic causes.

Ripple invites celebrities and other public figures to use its software platform for their social media. When fans click on celebrity posts that use the Ripple platform, revenue is directed to the celebrity’s nonprofit cause of choice.

CEO Mikko Passananti and President Eric Maybaum launched the service in November 2015. Celebrity partners include actors Joe Mantegna and Gary Sinise, benefiting the Gary Sinise Foundation, which builds custom homes for wounded veterans.

Part of Ripple’s appeal is that by using its platform to post on social media, the celebrity can generate money for a favorite cause without having to ask fans for donations. Ad revenue generated by fan clicks is split between the company and the cause.

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“The important part is we [raise money] without ever asking for a single donation,” Passananti said. •

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