Ebay launches microlending website
Published January 1st, 2008
Online auction giant Ebay has launched a microlending website that enables people to invest in entrepreneurs in poor communities around the world and get a return on their money.
“You are actually investing in the world’s working poor,” Tracey Turner, Microplace.com’s founder, said.
Pierre Omidyar, Ebay’s founder, and his wife have channelled hundreds of millions of dollars into micro-loans through their own foundation and are investors in online microlending website, Kiva.
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