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This article may require cleanup to meet Wikipedia's quality standards. Please improve this article if you can. (April 2009) |
Omidyar Network is a philanthrocapitalist investment firm established in 2004 by eBay founder Pierre Omidyar and his wife Pam. To date, Omidyar Network has committed more than $290 million to for-profit companies and nonprofit organizations that foster economic advancement and encourage individual participation across multiple investment areas, including microfinance, property rights, government transparency and social media.
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Structure
Composed of a 501(c)(3) and a Limited Liability Company (LLC), Omidyar Network is structured to work across the social, business, and government sectors. Like a traditional foundation, it makes grants through its 501(c)(3) entity; Through its LLC, it invests in for-profit entities.[1]
People
Pierre Omidyar, the founder of eBay, and his wife, Pam, established Omidyar Network based on the belief that every person has the potential to make a difference.
The organization's headquarters are in Redwood City, CA. Omidyar Network also has employees in the UK, based in London, including Stephen King, the former head of the BBC World Trust.
The managing partner of Omidyar Network is Matt Bannick, the former general manager of eBay International. Sal Giambanco, formerly of Paypal, and Matt Halprin, formerly of eBay, are also partners.
Partner Matt Halprin was nominated to the Wikimedia Foundation Board of Trustees at approximately the same time in August 2009 that potentially $2 million in grant funding would move from Omidyar Network to Wikimedia. [2] The Omidyar Network also invested part of $4 million into Wikia, Inc.,[3] which was co-founded by Wikimedia Foundation "Chair Emeritus" Jimmy Wales.
Partners
As of April 2009[update], Omidyar Network counts the following organizations as partners:
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References
- ^ Guth, Robert A. (October 22, 2008). "EBay Founder's Philanthropic Firm to Donate More". The Wall Street Journal: pp. A4. http://online.wsj.com/article/SB122463722341457039.html?mod=todays_us_page_one.
- ^ Press release, Omidyar Network Commits $2 Million Grant to Wikimedia Foundation, August 25, 2009.
- ^ CNET News, Margaret Kane, March 28, 2006.
External links
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