Google donates $800 million in cash

Google donates $800 million in cash
Google donates $800 million in cash

Google CEO Sundar Pichai announced Friday that his company is donating more than $800 million in cash and advertising to help stem the spread of the novel coronavirus and ease the impact on small businesses.

Why it matters: It would appear to be the largest donation yet from a tech giant. The ad credits also could help keep business flowing through Google’s ad system amid what is expected to be a sharp downturn in advertising.

Details: The donation consists of:

  • $250 million in ad grants to help the World Health Organization (WHO) and more than 100 government agencies around the world provide information about the virus. That’s up from $25 million announced last month. Google is also providing $20 million in ad grants to community organizations so they can provide information about relief funds and other resources for small businesses.
  • A $200 million investment fund that will help non-profits and financial institutions provide small businesses with access to capital. That’s in addition to $15 million in cash grants already being provided by Google.org. the company’s philanthropic arm.
  • $340 million in Google Ads credits available to all small and midsize businesses with active Google accounts over the past year. The credits can be used any time this year.
  • $20 million in Google Cloud credits for academic institutions and researchers to use Google’s computing resources on COVID-19 related projects.
  • Financial support and know-how to help ramp up production of personal protective equipment and lifesaving medical devices. Google said it is working with longtime supplier and partner Magid Glove & Safety to produce 2-3 million face masks in the coming weeks that will be donated to the CDC Foundation.

Since the start of the coronavirus it required the global effort To stop the pandemic. The google is in excellent Position to help the world in the crisis.

By giving away millions of dollars’ worth of ad grants and credits, Google is doing enough to keep its business afloat and ensure that it remains competitive even during this difficult period.

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