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Omidyar Network

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Omidyar Network
Company typeImpact investor, non-profit organization
Founded2004; 20 years ago (2004)
FounderPierre Omidyar
Revenue25,198,385 United States dollar (2022) Edit this on Wikidata
Total assets367,592,522 United States dollar (2022) Edit this on Wikidata
Websiteomidyar.com

Omidyar Network is a self-styled "philanthropic investment firm," composed of a foundation and an impact investment firm.[1] Established in 2004 by eBay founder Pierre Omidyar and his wife Pam,[2][3] Omidyar Network has committed over US$1.5 billion to nonprofit organizations and for-profit companies across multiple investment areas.[4] According to the OECD, Omidyar Network's financing for 2019 development increased by 10% to US$58.9 million.[5]

Structure

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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.[6] It is a part of The Omidyar Group.[7]

In 2018, Omidyar Network spun off its Governance & Citizen Engagement initiative.[8] The group now operates as Luminate, a global philanthropic organization that invests in civic empowerment, data and digital rights, financial transparency, and independent media. It is led by Stephen King.[9]

In 2019, Omidyar Network spun off its Financial Inclusion initiative. The group now operates as Flourish and is led by Tilman Ehrbeck, Arjuna Costa, and Emmalyn Shaw.

People

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As of 2022, the CEO of Omidyar Network is Mike Kubzansky.[10] Its board of directors include the managing directors of The Omidyar Group, Jeff Alvord and Pat Christen[11] and in 2023 Michele Jawando was senior vice president for programs.[12]

As of 2022, the organization has offices in Silicon Valley, Bengaluru, London, Mumbai, Nairobi, and Washington, D.C.

Investees

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Omidyar Network invested in the microfinance sector, including Unitus Inc.[13]

In 2009, the Omidyar Network donated $2 million over two years to the Wikimedia Foundation, and at the same time, Matt Halprin of Omidyar Network was appointed to Wikimedia's board of directors.[14][15]

From 2012, Omidyar Network has been a partner of Better Than Cash Alliance.[16][17]

In 2017, Omidyar Network together with AVINA Americas and Avina Foundation founded the Latin American Alliance for Civic Technology (ALTEC) to invest in and support the development in Latin America of civic technology platforms and related scalable technologies.[18]

In 2020, it invested $150,000 in the legal assistance organization Whistleblower Aid.[citation needed]

See also

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References

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  1. ^ "The Omidyar way of giving". The Economist. No. October 26, 2013. October 26, 2013. Retrieved 11 May 2015.
  2. ^ Rice, Andrew (2 November 2014). "The Pierre Omidyar Insurgency". New York.
  3. ^ Schwartz, Brian (14 September 2020). "EBay founder Pierre Omidyar's philanthropic investment group calls for a new version of capitalism". CNBC.
  4. ^ "Pierre Omidyar". Forbes. Archived from the original on 15 August 2022. Retrieved 21 August 2021. Through his Omidyar Network, launched in 2004, he's put over $1.5 billion into impact investments and nonprofits that tackle global problems.
  5. ^ "Omidyar Network | Development Co-operation Profiles – Omidyar Network | OECD iLibrary".
  6. ^ Guth, Robert A. (October 22, 2008). "EBay Founder's Philanthropic Firm to Donate More". The Wall Street Journal. pp. A4.
  7. ^ Levitsky, Allison (14 September 2020). "Billionaire eBay founder's philanthropy calls for re-imagination of capitalism". American City Business Journals.
  8. ^ "New Global Civic Tech Group Emerges from Omidyar Network". www.govtech.com. 17 December 2018. Retrieved 2020-11-23.
  9. ^ "Stephen King". UNESCO. 2019-04-04. Retrieved 2020-11-27.
  10. ^ Schwartz, Brian (14 September 2020). "EBay founder Pierre Omidyar's philanthropic investment group calls for a new version of capitalism". CNBC.
  11. ^ "Leadership". Omidyar Network. 14 December 2020. Retrieved 20 August 2022.
  12. ^ Kurtz, Josh (January 19, 2023). "When it comes to celebrities at the inauguration, there's Oprah and there's everybody else". Maryland Matters. Retrieved May 1, 2023.
  13. ^ Strom, Stephanie; Bajaj, Vikas (29 July 2010). "Rich I.P.O. Brings Controversy to SKS Microfinance". The New York Times. Retrieved 29 December 2020.
  14. ^ Ha, Anthony (25 August 2009). "Wikipedia gets $2M from Omidyar Network". VentureBeat. Omidyar Network just announced that it's making a $2 million grant to the Wikimedia Foundation … Matt Halprin, a partner at [Omidyar], is also joining Wikimedia's board of trustees.
  15. ^ West, Jackson (25 August 2009). "$2 Million Buys eBay Founder a Wikipedia Seat". NBC Bay Area. The Omidyar Network, a fund established by eBay billionaire Pierre Omidyar, has pledged $2 million over two years to support the site, and in return landed fund partner Matt Halprin a seat on a shaken-up board of trustees.
  16. ^ Goel, Vindu (6 November 2016). "Philanthropy in Silicon Valley: Big Bets on Big Ideas". The New York Times. And Omidyar participates in the Better Than Cash Alliance, an advocacy group that partners with governments and others to encourage the distribution of money digitally instead of through cash handouts.
  17. ^ Dharshini, Priya; Kajla, Ashish; Bhattacharya, Anirban (28 November 2021). "How the Modi government wrecked India's small businesses". Quartz. the Better Than Cash Alliance [is] funded by United States Agency for International Development, Bill and Melinda Gates Foundation, Citi Foundation, Ford Foundation, Mastercard, Omidyar Network and Visa Inc.
  18. ^ "Omidyar Network Invests $2.9 Million in Civic Tech Alliance". Philanthropy News Digest (PND). 19 February 2017. Archived from the original on 22 February 2017.
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