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snap inc. quietly created a foundation to support arts and education

snap inc. quietly created a foundation to support arts and education News Article With The full text news and with Resource Link at the bottom of the text and you can View this News Article in the source page.



snap inc. quietly created a foundation to support arts and education

"in february 2017, we established the snap foundation," the s-1 reads. "after this offering, we and our co-founders have each pledged to donate up to 13,000,000 shares of our cl a common stock to the snap foundation over the course of the next 15 to 20 years. we anticipate that the proposed programs of the snap foundation will support arts, education, and youth."

aside from the fact that snap inc's board of directors approved that potential pledge on january 27, there's no other detail on what the foundation plans to do or when. similarly, since the ipo hasn't actually happened yet, there's no way to gauge (or even really guess at) how much money the foundation will eventually be able to work with. still, it's worth pointing out that the company isn't new to philanthropy: it teamed up with (red) to raise money for aids research and has made a name for itself due to charitable giving and community service in venice, california, where the company is headquartered. we've reached out to snap inc. to see what, if anything, it can tell us about the snap foundation's plans and governance -- we'll update this story if we hear back.

one thing is clear, though: the people in charge of the foundation might want to consider a name change. there are already at least two other snap foundations out there: one is a uk-based group that brings eras and teaching volunteers to "communities who don't have access to p og hic tools or equipment" and the other pledges to supply " eras and curriculum resources" to k-12 cl rooms in rochester, ny.