Facebook Commits $200 Million to Black-Owned Businesses

Sheryl Sandberg, Facebook’s Chief Operating Officer, has announced that the company wants to pledge $200 million towards the cause of upholding racial diversity. Social media companies have addressed this issue and have duly done their part in bringing a change in the workspaces by enabling people of colour.

Recently Apple, Google and now Facebook will commit itself to this very same cause. The company has said in a press release that this decision comes as a part of a series of new steps it is undertaking to address racial inequality.  

Sheryl Sandberg has also mentioned that the company will now also have a section present in the Facebook app that will solely portray stories from black people including fundraisers for causes fighting racial injustice, and educational resources. It has also pledged $1 billion annual investment for incorporating “diverse suppliers.” 

“The past few weeks have compelled us to confront the reality of violence and injustice which members of the Black community face on a daily basis,”. “We have shared words of support for our friends, colleagues and communities. We need to take action as well,” Sandberg additionally said. 

In the announcement about the same, Facebook has said that it will also commit to working on a free Elevate work-training program for at least 1 million black people in a matter of three years.

Black Lives Matter / Facebook

Facebook has also planned 100,000 scholarships to help black students to get the much-needed help and to also get digital skills certification. The company will also separately launch a feature called ‘Lift Black Voices’.

In this new feature of Facebook, it will bring out stories from black people, their community and also help the community with certain educational resources and find ways to inspire their students and tell them about ways to take action through fundraising to tackle racial prejudices and injustice.

The company has also planned to bring out accounts in Instagram search to “help people take action for racial justice,” though Facebook didn’t elaborate much on what that actually meant and will function like. 

During this uproar which stemmed from the ignorance towards the marginalised community, it has become exceedingly important that companies bring in a racially diversified workforce.

50 per cent of Facebook’s workforce will have representation from communities that have been marginalised by the end of 2023.  Facebook will also donate $5 million to more than 250,000 fundraisers on Facebook who support the Equal Justice Initiative, the Thurgood Marshall College Fund and the Innocence Project.

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