Additional $10 million in grants, the largest in the Foundation's history, will support nonprofits and small businesses amid the global pandemic.
SAN JOSE, Calif., May 18, 2020 /PRNewswire/ -- The eBay Foundation is announcing this week $10 million in grants to support COVID-19 relief worldwide, increasing its efforts to a total of nearly $15 million in COVID-19 related grants to date. So far in 2020, the Foundation has tripled grantmaking from 2019; this week's additional funding round is the largest in its history and comes at a vital time for communities and small businesses adversely impacted by the pandemic.
"As we navigate our 'new normal' amid COVID-19, we all hear — and say — what an unprecedented time this is, and that is undoubtedly true," said Allie Ottoboni, president, eBay Foundation. "And so, we felt it was critical to meet the moment and provide an unprecedented level of funding from the eBay Foundation to underrepresented entrepreneurs and small businesses who make our communities what they are."
The additional wave of grants will be disbursed among local, national and international organizations, including Kiva, the World Health Organization, Local Initiatives Support Corporation (LISC), Start Small Think Big and ICA Fund Good Jobs. Part of the funding also will go toward Global Give, eBay's annual employee grantmaking program to support small businesses and entrepreneurs.
"eBay has been an important partner to us over the years as we've partnered on employee lending initiatives," said Neville Crawley, CEO of Kiva. "We are thrilled and incredibly proud to receive this additional funding from eBay, which comes at a crucial time for small businesses and entrepreneurs around the world needing necessary funds due to COVID-19."
Since the pandemic outbreak, the eBay Foundation has pledged millions in grants to small business development nonprofits; humanitarian and medical organizations; and emergency assistance funds in the U.S. and abroad. The Foundation provided funds to Hello Alice, the Opportunity Fund and Small Business Majority, all of which are focused on supporting underrepresented entrepreneurs. To help communities in Europe, the Foundation is supporting the Italian Red Cross, Fondation de France and Doctors Without Borders (Medecins Sans Frontieres).
Near eBay's San Jose headquarters, the Foundation contributed $500,000 in April to the Silicon Valley Strong Fund that will provide financial assistance to low-income residents who have lost wages and are facing economic hardship, as well as $1 million to Silicon Valley Community Foundation's regional response and nonprofit emergency funds. And, for employees, the Foundation is matching an additional $1 million in employee donations in response to the pandemic.
"This incredibly generous grant from the eBay Foundation will help save small businesses on the front lines of this unparalleled crisis," said Jennifer DaSilva, executive director, Start Small Think Big. "With eBay's support, Start Small Think Big will be able to ensure that small businesses, who are so often left behind, have critical access to the services they need the most now."
eBay is committed to helping our local and international communities through the pandemic. This new round of grants from the eBay Foundation, which provide crucial support for the most vulnerable populations impacted by the pandemic, builds on the efforts from the company to support our sellers and small business communities globally through programs like Up & Running.
As a purpose-driven technology company, we strive every day to empower people and create economic opportunity. Established in 1998, the eBay Foundation was the first corporate foundation to be endowed with pre-IPO stock. Its mission is to foster inclusive entrepreneurship, especially in the communities where eBay's employees live and work, and we aim to act as a catalyst for change by supporting entrepreneurs and small businesses, targeting vulnerable and marginalized groups. We leverage our resources, platform and people to create a more equitable global economy, and we engage eBay employees to make a greater impact in communities around the globe. With the additional funds committed in 2020, the Foundation will have provided nearly $60 million in grants globally.
Learn more about our mission and impact work at ebayinc.com/impact.
eBay Inc. (Nasdaq: EBAY) is a global commerce leader including the Marketplace and Classifieds platforms. Collectively, we connect millions of buyers and sellers around the world, empowering people and creating opportunity for all. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com
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SOURCE eBay Inc.