Statement from Omidyar Network Managing Partner Matt Bannick regarding the Chan Zuckerberg Initiative

Omidyar Network congratulates the new Chan Zuckerberg Initiative.

eBay and Omidyar Network founder Pierre Omidyar recognized early in his journey as a philanthropist that addressing big social challenges would require the use of multiple assets. His experience at eBay was that markets, in particular, are an incredible tool for positive social impact. As a result, in 2004 he created Omidyar Network as a philanthropic vehicle that included a traditional foundation and an LLC so that he could invest in the right changemaker, regardless of whether it is a for-profit or nonprofit.

We look forward to the great outcomes the Chan Zuckerberg Initiative will accomplish.