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eBay buys The Gifts Project
Posted By Viva Sarah Press On September 11, 2011 @ 9:21 am In | No Comments
Meanwhile, eBay’s acquisition of The Gifts Project funneled more than $65,000 to Tmura - the Israeli Public Service Venture Fund. Rather than soliciting cash donations, Tmura receives grants of stock from companies and uses the proceeds from successful “exits” – a public offering or acquisition – to fund education- and youth-related charities in Israel.
“Social responsibility is one of the values upon which we founded The Gifts Project, and Tmura has developed a fantastic, and unique yet simple, avenue for early stage companies to act on these values,” said Ron Gura, The Gifts Project co-founder and CEO.
More than 20 different non-profit organizations in Israel have benefited from Tmura’s exit. The list includes College For All, the Tel Aviv Rape Crisis Center and Big Brothers Big Sisters of Israel, among others.
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