MicroPlace was an American microfinance provider that focused on retail investors. Started by Tracey Pettengill Turner in 2006, MicroPlace was bought out by eBay that same year.
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Impact Investing |
| Founded | 2006, in San Jose, California, U.S. |
| Founder | Tracey Pettengill Turner |
| Headquarters | San Jose, California , U.S. |
| Website | www |
MicroPlace provided everyday investors with the ability to make investments in the microfinance industry that had the potential to earn interest.[1] This contrasts with most other services for microlenders, which generally rely on a charitable model.[2] Interest earned was typically between 1 and 3 percent.[3]
The company acted as a broker-dealer and is registered with the SEC and is a member of FINRA.
History
editMicroPlace was founded by Tracey Pettengill Turner and was bought by eBay for an undisclosed amount in 2006.[4][5] Her hope is to expand the microfinancing industry from its current base of 100 million people to 1 billion people, with help from the middle class of affluent nations (the United States, European Union, etc.).
Ashwini Narayanan took over as the general manager of MicroPlace until 2012.[citation needed]
On January 14, 2014, MicroPlace announced that it would cease offering investments.[6]
References
edit- ^ "Fight Poverty With Online Microlending". Retrieved 2018-05-17.
- ^ Robert Katz, Kiva vs. MicroPlace - What's the Difference? Archived 2007-10-27 at the Wayback Machine, WorldChanging.com, October 24, 2007. Retrieved November 4, 2007.
- ^ "EBay-owned MicroPlace Launches Microfinance Site". WIRED. Retrieved 2018-05-17.
- ^ "New eBay site helps finance poor". 2007-10-24. Retrieved 2018-05-17.
- ^ Stempel, Jonathan. "eBay site lets people finance the world's poor". U.K. Archived from the original on May 18, 2018. Retrieved 2018-05-17.
- ^ "MICROCAPITAL BRIEF: EBay Microfinance Unit MicroPlace Ceases Accepting New Investments". 18 March 2014. Retrieved 2016-08-05.
External links
edit
 | This finance-related article is a stub. You can help Wikipedia by expanding it. |
  | This article about a financial services corporation of the United States is a stub. You can help Wikipedia by expanding it. |