Malloc on a Pointer Parameter Failing

I have the following lines of code:

struct c_obj_thing *object = NULL;
 c_obj_initalizer(object);
 // at this point, (object == NULL) is 'true'
 printf("Value: %d\n", object->value); // this segfaults
 

Here is the definition for c_obj_initalizer:

int c_obj_initalizer(struct c_obj_thing *objParam) {
   objParam = malloc(sizeof(struct c_obj_thing));
   objParam->pointerThing = NULL;
   objParam->value = 0;
   return 0;
 }
 

Why does the malloc in the c_obj_initalizer method not stay attached to the pointer passed as a parameter when the method returns? It seems like the call to the initalizer doesn't do anything. I realize that passing an actual c_obj_thing not as a pointer would mean that the changes made in the initalizer did not return, but I thought that dynamic memory perpetuated throughout the entire program.

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