About Omidyar Network
Omidyar Network was founded in June 2004 by eBay founder Pierre Omidyar and his wife Pam in Redwood City, California. Omidyar Network is intended to expand the investment scope of the Omidyar Foundation by funding not just non-profit projects, but also for-profit ventures and public initiatives they believe promote individual self-empowerment. The Network has established a $400 million fund to be invested by 2010.
The managing partner of Omidyar Network is Matt Bannick.
On July 14, 2004 SourceForge.net announced that it had received a $400,000 grant from The Omidyar Network.
In addition to the corporate web site, Omidyar Network hosts omidyar.net, a community discussion board/wiki for any number of issues ranging from social justice to education to cooperatives. Members were encouraged to give positive or negative feedback to contributions, similar to eBay's feedback forum. Working documents were editable by anyone in a wiki style. The stated aim of building a community with the Network was to collectively empower people who want to make positive change in the world.
On August 27, 2007 the Omidyar Network announced the forthcoming shutdown of the omidyar.net website. The announcement says that "...self-managed communities can work", hints at problems with moderating the website content, but gives no concrete reason for the shutdown. All operations are scheduled to cease by December 31, 2007. Members have been referred to other online social networking for social good websites such as Ned, [http://www.razoo.com Razoo], About us, Wiser Earth, Facebook, Wagn, Daily Appreciations and Better World Island (on Second Life).
The future direction of the fund is unclear.
Quotes about Omidyar Network
We are thrilled to have Omidyar Network on board as an investor. We appreciate the perspective they bring—they understand how social enterprise can solve problems and improve lives in emerging economies.In D.light Design Raises $5.5M In Omidyar-Led Round
Omidyar Network believes that D.light is at a critical inflection point on its path to massive social impact.Jayant Sinha in D.light Design closes US$5.5mn Series B Financing
I am honored to join the board of d.light. Simply put, Omidyar Network considers d.light to be one of the best examples in the world of how impact investing and a market-based approach can fundamentally transform people's lives for the better.Matt Bannick in d.light Announces $11 Million Series C Financing, Expands Board of Directors