Key Highlights
- Google announces $340M in ad credits to small and midsize businesses worldwide with active Google ad accounts
- Google’s total coronavirus response package totals +$800M
Alphabet and Google CEO Sundar Pichai announced on March 27 in a blog post that the two companies is committing to an $800M+ coronavirus response package. Elements of this response package include…
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- $340M of free ads to small and midsized businesses worldwide that have active Google ad accounts.
- $200M investment fund to help NGOs and financial institutions provide small businesses with capital
- $250M in advertising grants to help the World Health Organization (WHO_ and government agencies provide information on how to prevent the COVID-19 spread
- $20M in Google Cloud credits for academic institutions and researchers
- Unspecified financial support to help increase production capacity for lifesaving equipment, personal protection equipment and ventilators
Pichal said, “As the coronavirus outbreak continues to worsen around the world, it’s taking a devastating toll on lives and communities. To help address some of these challenges, today we’re announcing a new $800+M commitment to support small and medium-sized businesses, health organizations, governments and health workers on the frontline of this global pandemic.”
Verily, Google’s sister company, has ramped up drive-thru coronavirus testing by offering 1,000 Google volunteers to complement an effort to screen and test people with symptoms. Google has also launched a separate informational site about the pandemic.
Google, on top of its above commitments, has increased the gift match the company offers every employee annually to $10,000 from $7,500. Alphabet’s employees, Pichai said, are “Bringing engineering, supply chain and healthcare expertise to facilitate increased production of ventilators, working with equipment manufacturer distributors and the government in this effort.”
Other Silicon Valley tech giants such as Apple, Salesforce and Facebook, are funding relief efforts to help mitigate the economic disparity cause by the COVID-19 pandemic.
Thanks to CNBC’s Jennifer Elias.
