Spark Foundation, a charitable trust funded by the telco, is looking to sell the crowdfunding website Givealittle.
Spark Foundation Chair Andrew Pirie said today the foundation believes Givealittle’s continued growth will benefit from a new owner that can continue to support the platform and develop new services "to take Givealittle to another level".
"In line with our Foundation vision to be a catalyst for positive social change, the time is right to look for a new owner to ensure Givealittle’s positive societal impact can be maximised in the future," he said in a statement.
Mr Pirie said Givealittle, now 10 years old, has helped hundreds of thousands of New Zealanders donate to causes they care deeply about and since becoming owner in 2012, the foundation has invested close to $8 million to cover development and operating costs.
"We are open to a range of potential new ownership models, with our key objective being to identify the best new owner to support and drive Givealittle’s ongoing growth, for the wider benefit of New Zealanders using this fantastic platform," he said.
Spark Foundation’s trustees will assess all proposals before confirming whether to move to a new ownership model for Givealittle, Mr Pirie said.
If this results in a sale of Givealittle, any financial proceeds will go to charity, via investment in existing or new social ventures funded by Spark Foundation, he said.
Spark Foundation has appointed Impact Ventures as an adviser for the process.
Impact Ventures Director Chris Simcock said he expects there will be significant interest from a wide range of prospective new owners, reflecting Givealittle’s strong public profile, operational track record and growth potential.
In the meantime, Givealittle services will continue as normal.