Google to donate $800m+ to help in the fight against coronavirus
It seems like Vice President Mike Pence’s words on the importance of industrial contribution during pandemics have had a strong effect on American big tech companies. After Apple’s decision to donate 2 million masks for healthcare workers, Google too has contributed to the coronavirus cause with a hefty donation of more than $800 million.
CEO Sundar Pichai announced on Friday that his company would be donating upwards of $800 million in advertisement credits and loans to help governmental organizations and small businesses in their response to the coronavirus pandemic.
The announcement further details the breakdown of the donation, which goes as follows:
- $250 million worth of advertisement grants to 100+ governmental organizations across the world, including the World Health Organization (WHO)
- $340 million in advertisement credits to small businesses with accounts that have been active in the past year
- $20 million worth of Google Cloud credits to universities and research groups that are responding to COVID-19
- $200 million in investment funds for non-profit organizations and financial institutions to provide loans to small businesses and startups
- Additional investment into scaling up the production of face masks and other vital protective equipment for healthcare workers on the frontlines
Since the coronavirus is a global pandemic, it requires a strong global effort. With its worldwide networks and databases of information, Google is in an excellent position to lend a helping hand during these times of crisis.
Aside from being a grand act of goodwill, giving away ad credits makes sense from a business point-of-view as well. Google’s massive ad business has taken a huge hit during this pandemic as businesses all over the world have been forced to either halt some of their operations or shut down entirely.
By giving away millions of dollars’ worth of ad grants and credits, Google is doing enough to keep its business afloat and ensure that it remains competitive even during this difficult period.