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Chan Zuckerberg Initiative

Chan Zuckerberg Initiative
Chan Zuckerberg Initiative.svg
Formation December 1, 2015; 14 months ago (2015-12-01)
Founders
Endowment 99% of their Facebook shares, valued at $45 billion (pledged)
Mission "Advancing human potential and promoting equality"
Website chanzuckerberg.com

The Chan Zuckerberg Initiative (CZI) is a limited liability company founded by Facebook founder Mark Zuckerberg and Priscilla Chan with an investment of "up to $1 billion in [Facebook] shares in each of the next three years". Its creation was announced on December 1, 2015, for the birth of their daughter, Maxima Chan Zuckerberg.

The aim of the Chan Zuckerberg Initiative is to "advance human potential and promote equality in areas such as health, education, scientific research and energy".

There are many previous examples of "philanthrocapitalism" in the United States, such as Andrew Carnegie, John Rockefeller (Rockefeller Foundation), Warren Buffett and Bill Gates (Bill & Melinda Gates Foundation). As have Bill Gates, Warren Buffett, Michael Bloomberg, Charles Bronfman, Carl Icahn, David Rockefeller and others, Mark Zuckerberg signed the "Giving Pledge".

The Chan Zuckerberg Initiative chose to invest $24 million in Andela for its first major initiative. Andela is a startup focused on training software developers in Africa through their bootcamp and four-year fellowship program, during which they pair their trainees with U.S. companies needing development help. The Chan Zuckerberg Initiative led the company's Series B funding.

On September 8, 2016, education startup Byju's announced raising $50 million in a round co-led by The Chan Zuckerberg Initiative and Sequoia Capital, along with investors Sofina, Lightspeed Venture Partners, and Times Internet. The funding has been raised to fuel their international expansion.


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