StageAcquired | Acquired
MicroPlace is a micro-lending website owned by eBay. MicroPlace's mission is to help alleviate global poverty by enabling everyday people to make investments that provide loans for the world's working poor community. MicroPlace connects investors with microfinance institutions looking for funds so that these organizations can lend to the poor. MicroPlace vs. Kiva Here are some of the noted differences between MicroPlace and Kiva: Kiva is a non-profit organization, while MicroPlace has the financial and institutional backing of eBay. Investors on MicroPlace get their money back plus interest, while investors who go through Kiva get their money back without interest. MicroPlace is a market for microfinance securities, while Kiva is not.
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Latest MicroPlace News
Feb 27, 2014
Tweet eBay has purchased an organization called MicroPlace, an executive revealed during a "Town Hall" event on Thursday evening. MicroPlace was founded by Tracey Pettengill and set up to facilitate micro-finance. eBay's Chief Marketing Officer Gary Briggs was answering a participant's question about what eBay is doing to help promote saving the planet. He said in part, "A third point to bring up is MicroPlace, which a group that we purchased that is making microfinance loans available to the developing world in particular, and we think - particularly as it relates to PayPal - that we think that's a great thing to be able to do for the global community. " MicroPlace plans to launch a web-based, eBay-like marketplace to connect "ordinary" people with micro-finance entities that need capital, according to the website. Founder Tracey Pettengill is co-founder of the Silicon Valley Microfinance Network and was previously CEO of 4charity, a technology company whose vision was "to make philanthropy accessible, convenient, and efficient for companies and their employees. " Two micro-finance marketplace sites already exist, one calling the phenomenon "social lending. " UK's Zopa, which is coming the to the US market, is funded by several VCs, including Benchmark, which funded eBay in its pre-IPO days. Prosper was started by e-Loan founder Chris Larsen and John Witchel and is also backed by Benchmark Capital - and eBay founder Pierre Omidyar through his Omidyar Network. Briggs' disclosure on Thursday was the first public mention of eBay's apparent acquisition of MicroPlace. The Town Hall meeting can be heard on WSradio ( http://www.wsradio.com/internet-talk.cfm/radio/townhall-archives.html ). http://www.microplace.com About the author: Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to firstname.lastname@example.org . You may quote up to 50 words of any article on the condition that you attribute the article toEcommerceBytes.com and either link to the original article or to www.EcommerceBytes.com. All other use is prohibited. Sign up for our Email Newsletters
MicroPlace Frequently Asked Questions (FAQ)
Where is MicroPlace's headquarters?
MicroPlace's headquarters is located at 2211 North 1st Street, San Jose.
What is MicroPlace's latest funding round?
MicroPlace's latest funding round is Acquired.
Who are the investors of MicroPlace?
Investors of MicroPlace include eBay.
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