The St. Louis Post-Dispatch recently featured WashU-alum startup Generopolis.
Meghan Winegrad [MBA, ’06], spent most of her corporate career identifying trends and building products at companies such as General Mills and Hill+Knowlton. She took the same approach with her web startup Generopolis, researching, networking and analyzing data.
Generopolis is a website where people buy and sell products — much like Craigslist or Facebook Marketplace — but with one crucial difference: proceeds from sales are donated to a cause of their choice.
During her research, she found that Millennials think differently about donating. They may have less money to give, but they are still interested in philanthropy. Rather than just writing a check, they look for a more hands-on experience. Generopolis fulfills that expectation: It is a noncash model that creates cash, making giving accessible to everybody.
Listings are not limited to person-to-person sales. Services are being offered too, often by companies and organizations. The platform provides them with an alternative marketing format to promote their product or service while at the same time, doing good in their communities.
For now, Winegrad is funding the startup with savings and fees from sales. She is waiting until Generopolis reaches 30,000 users $300,000 in donations to nonprofits before approaching potential investors.