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Don't Be Evil
(US) Google's founders Larry Page and Sergey Brin, each worth about $8 billion, might challenge convention and employ a capitalist approach to charitable donations. The company that is at the forefront of innovation and bold moves already gives free advertising to hundreds of non-profits focused on poverty, human rights, the environment and other causes.
This new approach will see its newly formed Foundation invest in 'for-profits' that also pursue worthy causes, rather than the norm of donating to non-profits.
'We want to do something that is innovative,' says Sheryl Sandberg, vice president of global online sales and operations.
Google won't be the first though, EBay founder Pierre Omidyar last year said his foundation would start investing in for-profit start-ups in addition to non-profits. Ben & Jerry's Ben Cohen uses his $5 million Barred Rock venture-capital fund to invest in start-ups, such as an apple pie maker creating jobs in rural Vermont.
Omidyar Network, has pumped $5.6 million into for-profits, including United Villages of Cambridge, Mass. United Villages develops software and hardware bringing phone, e-mail and other electronic communication to poor villages in India, Cambodia and other foreign nations.
You can even apply for the role of Executive Director of the Google Foundation—here.
…so where does this leave the non-profits?
USAToday article link.
CNN article link.
Filed by DK on April 28 2005
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