GoFundMe acquires nonprofit fundraising platform Classy

The crowdfunding platform GoFundMe announced Thursday that it has signed a deal to acquire the nonprofit fundraising company Classy. The move will help the largest crowdfunding site in the world further increase its influence in the philanthropic sector. A news release from GoFundMe says under the agreement, Classy will become a subsidiary of GoFundMe and the two will operate separately under the leadership of GoFundMe CEO Tim Cadogan. The company didn’t disclose details of the deal. But it said the “all-equity” deal was signed earlier this month and is expected to close in the first quarter.