Star power: eBay founder's investment fund to bankroll Facebook co-founder's social network

Image: www.Jumo.com

Omidyar Network, the philanthropic investment firm started by eBay founder Pierre Omidyar, announced on Tuesday that it is giving a grant of 750,000 to cause based social networking site Jumo.

Started by Facebook co-founder, Chris Hughes, Jumo is a (yet to be launched) online platform that aims to connect individuals and organizations looking to change the world. The site's benefits are intended to flow both ways: individuals find an organized means to further the causes they are passionate about, while organizations can harness the expertise and funds of individuals who have a vested interest in their particular subject area. Announced in March of this year, Jumo means "together in concert" in a Yoruba, a West African language.