Tuesday, September 14, 2010

Omidyar Puts $750K Into Jumo

Redwood City-based Omidyar Network, the philanthropic investment firm of eBay's Pierre Omidyar, said this morning that it has invested $750K in a grant to Jumo, a philanthropic web organization started by Facebook co-founder Chris Hughes. According to Omidyar, Jumo is developing a web-based platform for initiating and fostering ongoing relationships between individuals and cause-based organizations. As part of the grant, Omidyar's Chris Bishko joins Jumo's board of directors. Omidyar said that Jumo specifically focuses on groups "bringing about positive social change."