Online Giving Marketplace Growing Quickly
In 1997, as executives of the World Bank, Mari Kuraishi and Dennis Whittle created an event, known as the Development Marketplace, at which social entrepreneurs from around the world seeking funds from the bank pitched their ideas for fighting poverty.
Inspired by participants who suggested the need for an online marketplace operating continuously to connect social entrepreneurs with philanthropic investors, Kuraishi and Whittle left the World Bank and created the GlobalGiving Foundation.
Launched in 2003 and located at globalgiving.org, the online marketplace has handled over $28 million in giving from nearly 101,000 donors to over 2,600 projects, including 700 currently posted on the site, with annual giving through the site doubling each year, on average.
