Entry in progress—B.P.
Moneybomb (money bomb, money-bomb, fundraising bomb) is a neologism coined in 2007 to describe a grassroots fundraising effort over a brief fixed time period, usually to support a candidate for election by dramatically increasing, concentrating, and publicizing fundraising activity during a specific hour or day. The term was first applied to a supporter-led fundraiser on behalf of presidential candidate Ron Paul, in which context the Mercury News described a moneybomb as being “a one-day fundraising frenzy”. The effort combines traditional and Internet-based fundraising appeals focusing especially on viral advertising through online vehicles such as YouTube, Myspace, Meetup, and online forums. In the case of lesser-known candidates it is also intended to generate significant free mass media coverage the candidate would otherwise not receive. Moneybombs have been used for grassroots fundraising and viral activism over the Internet by several 2008 presidential candidates in the United States. It continues to emerge as an important grassroots tool leading up to the 2010 midterm elections in the United States.
The phrase “money bomb” has had other usages in the past, but the coinage of “moneybomb” or “money bomb” to describe a coordinated mass donation drive for a political candidate came to prominence in 2007, during the campaign of American presidential candidate Ron Paul. His supporters initiated multiple grassroots fundraising drives; New York City musician Jesse Elder is said to have coined the usage of “moneybomb” for such an event. Elder registered the new YouTube identity “RonPaulMoneyBomb” at YouTube on October 14, 2007, and active-duty service member Eric Nordstrom registered the dotcom domain on October 16, which claims to be the first moneybomb site. A large moneybomb involving over 35,000 donors was created and proposed by James Sugra on Oct 14th through a YouTube video and organized by Trevor Lyman took place on November 5, 2007, Guy Fawkes Day. The fundraising drive raised over $4.2 million in one day, making it at that time the largest one-day Internet political fundraiser ever, and was backed largely by new or disaffected voters. After this, news media such as CNN began widely reporting the term “money bomb” to refer to the event. The term has also been used as a verb and apparently arose from analogy with the neologism “googlebomb”.
A massive donation online WITHIN A SMALL TIMEFRAME to a non-profit organization or political campaign by an organized giving effort. Wordage first seen in reference to the November 5th, 2007 Money Bomb to Ron Paul, presidential candidate. The effort gave Dr. Paul $4.3 million in 24 hours all from individuals averaging a $103 payment. This act made him break the record for the most money ever given to a REPUBLICAN PRESIDENTIAL CANDIDATE in a single day.
“Ron Paul supporters are at it again. They are planning another Money Bomb on Dec. 16th--the Boston Tea Party.”
“In an effort to support the Red Cross, our university organized a Money Bomb along with the locals. We raised $100,000 in two hours.”
by quickstepper Nov 8, 2007
New York City • Government/Law/Politics/Military • (0) Comments • Monday, July 26, 2010 • Permalink