Facebook to donate $ 200 million to African-American-owned businesses

Facebook announced that it will allocate $ 200 million to support African-American-owned businesses. This is an additional donation to the social network’s commitment to invest $ 1 billion in black communities in the United States.

“This year we will be investing $ 100 million in small black-owned businesses, black creators, and nonprofits that serve the black community in the United States,” Facebook said June 18 on its blog.

The social network noted that $ 25 million will go to support content creators and $ 75 million will be invested in cash grants and advertising credits to support businesses and nonprofits that serve the African American community. And as part of its commitment to invest $ 1 billion in the black community in the US, this and the next few years, the company will invest at least $ 100 million annually in hiring companies with African-American owners, from those that offer services of build up to marketing agencies and more.

Facebook will also create a space within the app called Lift Black Voices, which will focus on highlighting the stories of black people, share educational resources, and also function as a means of raising funds for causes of racial justice. “We asked employees to share ideas for new products and features to help combat racial injustice, and this was one of more than 700 ideas submitted so far,” read the company blog.

Within the searches on Instagram, the accounts of people fighting for racial justice will be highlighted and, according to the platform, they will continue with the series #ShareBlackStories in the accounts of @instagram, @instagramforbusiness, @creators, @shop, and @design.

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Facebook also pledged to digitally train 1 million people from the black and Latino community in the US, will offer 100,000 scholarships to black students, and in honor of Juneteenth, Facebook will donate $ 5 million to be divided among the organizations. of racial justice Equal Justice Initiative, Thurgood Marshall College Fund and Innocence Project.

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