Skoll Foundation Awards GlobalGiving Million-Dollar Grant to Grow the Int'l Development Market

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NEWS RELEASE

BETHESDA, MD (May 26, 2004) — GlobalGiving announced today that it has received a $1 million grant from the Skoll Foundation. The grant, one of the largest given by the Skoll Foundation, will be used to support continued development of GlobalGiving's operational infrastructure. Founded by former World Bank executives, GlobalGiving is emerging as the leading online marketplace for international aid and philanthropy.

GlobalGiving, called "a bureaucracy-free 'perfect marketplace' - a bit like eBay" by The New York Times, is a new marketplace for international aid and philanthropy that connects donors directly to social entrepreneurs-individuals from around the world who are pioneering high-impact solutions to social problems. The $1 million grant to GlobalGiving is part of the Skoll Foundation's efforts to create an infrastructure that supports the work of social entrepreneurs around the world. Through such grants, the Skoll Foundation, created by Jeff Skoll, the first employee and President of eBay, hopes that new models of capitalizing the social sector are adopted, enabling more people with world-changing ideas to access the capital they need to be successful.

GlobalGiving will use the grant to expand its donor base through innovative partnerships with corporations, grow its project supply by developing relationships with a broad set of social entrepreneurs, and refine the Internet-based platform that unites the two.

"The Skoll Foundation has been a leader in innovative grant-making since its inception," said Dennis Whittle, co-founder and CEO of GlobalGiving. "Its continued support and promotion of social entrepreneurship will allow GlobalGiving to realize its potential as a catalyst for social and economic development."

The Skoll Foundation's $1 million grant follows one for $200,000 last summer that supported GlobalGiving's initial development of its Web site and pilot project at HP. For more information, visit www.globalgiving.org.

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About the Skoll Foundation

Founded by former eBay President Jeff Skoll, the Skoll Foundation advances systemic change to benefit communities around the world by investing in, connecting and celebrating social entrepreneurs. Its vision is to live in a world of peace and prosperity where all people, regardless of geography, background, or economic status, enjoy and employ the full range of their talents and abilities. For more information, please see www.skollfoundation.org.

About GlobalGiving

GlobalGiving is the emerging marketplace for international aid. It directly connects social entrepreneurs in the developing world with individuals, corporations, and institutions that have an interest in funding social, environmental, and economic development projects. Founded in 2000 by two ex-World Bank executives, GlobalGiving is growing the overall development market by engaging donors and social entrepreneurs who have historically been marginalized by the international aid system. GlobalGiving has partnerships with Visa International and Hewlett-Packard and has received financial support from the Skoll, Omidyar, Sall, William and Flora Hewlett, Mott, Kellogg and Calvert Foundations, as well as USAID. For more information, please see www.globalgiving.org.

GlobalGiving Contact

Joan Ochi
Director of Marketing Communications


Phone: 202-232-5784
Toll Free: 1-877-605-2314
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