On the strength of an impressive number of digital donations, the Obama campaign's fundraising haul for the 2012 cycle is poised to make history, Time magazine's Michael Scherer reported on Thursday.
According to Scherer, the amount of money raised by the president's campaign and its "affiliated party committees" is expected to top $1 billion, a landmark fundraising total. Obama's team, it seems, benefitted considerably from donations made online.
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The reason is simple: the campaign brought in more small-dollar fundraising through email, social media, mobile and its website during the final months of the race than initially projected.
In total, according to new campaign calculations acquired exclusively by TIME, the Obama team raised about $690 million digitally in 2012, up from about $500 million in 2008, according to a senior campaign adviser. That number includes all contributions that were given electronically, including some donations that were generated by high-dollar fundraisers but logged through the website.