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Photo: Google
Google CEO Sundar Pichai announced Friday that his company is donating more than $800 million in cash and advertising to help stem the spread of the novel coronavirus and ease the impact on small businesses.
Why it matters: It would appear to be the largest donation yet from a tech giant. The ad credits also could help keep business flowing through Google's ad system amid what is expected to be a sharp downturn in advertising.
Details: The donation consists of:
- $250 million in ad grants to help the World Health Organization (WHO) and more than 100 government agencies around the world provide information about the virus. That's up from $25 million announced last month. Google is also providing $20 million in ad grants to community organizations so they can provide information about relief funds and other resources for small businesses.
- A $200 million investment fund that will help non-profits and financial institutions provide small businesses with access to capital. That's in addition to $15 million in cash grants already being provided by Google.org. the company's philanthropic arm.
- $340 million in Google Ads credits available to all small and midsize businesses with active Google accounts over the past year. The credits can be used any time this year.
- $20 million in Google Cloud credits for academic institutions and researchers to use Google's computing resources on COVID-19 related projects.
- Financial support and know-how to help ramp up production of personal protective equipment and lifesaving medical devices. Google said it is working with longtime supplier and partner Magid Glove & Safety to produce 2-3 million face masks in the coming weeks that will be donated to the CDC Foundation.
Meanwhile: Apple on Friday announced a new website and app designed to help people easily find accurate information about the virus and determine if they should seek testing.