TikTok, the social-video company owned by Chinese internet giant ByteDance, pledged to donate $250 million in funds to support COVID-19 relief efforts as well as $125 million worth of advertising c…
“We are committed to playing our part in that global outpouring of mutual support and giving,” TikTok president Alex Zhu wrote in a blog post. “We want to magnify all we are seeing across our community and translate it into concrete relief for those most affected by this crisis.”
Specifically, TikTok said it is provisioning $150 million in cash to go toward medical staffing, supplies and hardship relief for health care workers on local levels. For example, the company is working the CDC Foundation to donate $15 million toward supporting “surge staffing” for local response efforts through U.S. state and local health departments.
In addition, the company is establishing the TikTok Community Relief Fund, which will grant $40 million in cash to local organizations including musicians, artists, nurses, educators, and families that “have come together on our platform,” according to Zhu. The company is providing an additional $10 million matching in donations from TikTok users. To date, the company has donated $2 million to MusiCares.
Meanwhile, the TikTok Creative Learning Fund earmarks $50 million in cash grants to educators, professional experts, and nonprofits dedicated to distance-learning initiatives. On the ad front, TikTok will provide $100 million in advertising credits over the next few months to small and midsize businesses, as well as $25 million worth of “prominent in-feed ad space” for nongovernmatal organizations, “trusted health sources” and local authorities to “share important messages with millions of people and meaningfully engage the TikTok community,” Zhu wrote.
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