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October 22, 2008, 01:25 PM ET
eBay Founder to Expand Donations, Investment Areas
Pierre Omidyar, the founder of eBay, is expanding his philanthropic investment firm, reports The Wall Street Journal.
During 2009 the Omidyar Network — which is made up of a foundation that gives donations to nonprofit companies and also a venture-capital firm that invests in companies focused on social change — will expand its staff size and add two new areas of investment.
The group will focus on “access to capital” programs, which include investments into financial services for the poor, and another project it calls “media, markets, and transparency,” which will invest in technologies that can help improve transparency in government, the news media, and other areas.
The Omidyar network will also increase the total amount of donations and investments it makes. Other foundations, such as the Bill & Melinda Gates Foundation and the Skoll Foundation, are also steadily boosting their donations, investments, and hiring despite the looming possibility of a global recession.
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