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Facebook commits USD 200 mn to support "black-owned businesses"

News Agencies | Updated on: 19 June 2020, 23:03 IST

Social media giant Facebook will contribute USD 200 million to support "black-owned businesses and organizations" in one of its several initiatives announced by COO Sheryl Sandberg on Friday to support "black communities."

"Building on earlier investments, we're committing an additional $200 million to support Black-owned businesses and organizations. This commitment is part of a broader $1.1 billion investment in Black and diverse suppliers and communities in the US. We're also creating a new space in the Facebook app called Lift Black Voices and we're building a more diverse and inclusive workforce so we can better support communities around the world," Sandberg said in a blog post.

The company also will add a section to the Facebook app that features stories from black people, fundraisers for causes fighting racial injustice, and educational resources, Sandberg said.

On May 31, CEO Mark Zuckerberg had already said that Facebook would commit USD 10 million to "groups working on racial justice," though noted that the company was working with advisors and employees to figure out how to best distribute the money.


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First published: 19 June 2020, 23:03 IST