Mar 17, 2020 - Economy & Business

Facebook giving away $100 million to help small businesses during coronavirus

Illustration: Aïda Amer/Axios

Facebook says it's giving away $100 million to help 30,000 small businesses in over 30 countries during the coronavirus, according to a Facebook post from COO Sheryl Sandberg.

Why it matters: Facebook's business is reliant on small businesses buying ads. The tech giant is trying to be proactive in how it supports its community in a time of crisis.

  • "We’ve listened to small businesses to understand how we can best help them. We’ve heard loud and clear that financial support could enable them to keep the lights on and pay people who can’t come to work," Sandberg wrote.

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