Originally published: March 30, 2007
Source: AuctionBytes.com, USA
eBay's Chief Marketing Officer Gary Briggs revealed Thursday that eBay has purchased MicroPlace, an organization working in the area of microfinance and technology. MicroPlace plans to launch a web-based, eBay-like marketplace to connect "ordinary" people with microfinance entities that need capital, according to its website.
At a recent "Town Hall" event, Briggs answered a participant's question about eBay's efforts to help save the planet. As part of his response, he said, "a third point to bring up is MicroPlace, a group that we purchased which is making microfinance loans available to the developing world in particular, and we think - particularly as it relates to PayPal - that it's a great thing to be able to do for the global community."
MicroPlace founder Tracey Pettengill is also co-founder of the Silicon Valley Microfinance Network and was previously CEO of 4charity, a technology company whose vision was "to make philanthropy accessible, convenient, and efficient for companies and their employees."
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