eBay in the Microfinance business.

MicroPlace.comA friend recently sent me an article in BusinessWeek about eBay’s Microfinance engine. The article, EBay: The Place for Microfinance, speaks of eBay’s 2006 acquisition of MicroPlace.com.

MicroPlace.com’s mission is “to help alleviate global poverty by enabling everyday people to make investments in the world’s working poor.” Pretty impressive.

Pierre Omidyar, eBay’s founder, is also an investor in Kiva.org, which is a similar site for investing small amounts of money to entrepreneurs in developing countries.

MicroPlace.com fits eBay’s direction so nicely, and takes advantage of their infrastructure to do good in the world. Nice to see big players enabling Microfinance and bringing it to the masses. That’s doing well by doing good.

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