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'''MicroPlace''' was an American [[microfinance]] provider that focused on retail investors. Started by [[Tracey Pettengill Turner]] in 2006, MicroPlace was bought out by [[eBay Inc]] that same year.
'''MicroPlace''' was an American [[microfinance]] provider that focused on retail investors. Started by [[Tracey Pettengill Turner]] in 2006, MicroPlace was bought out by [[eBay Inc]] that same year.


MicroPlace provided everyday investors with the ability to make investments in the [[microfinance]] industry that had the potential to earn interest. This contrasts with most other services for microlenders, which generally rely on a charitable model.<ref name="KATZ">Robert Katz, [http://www.worldchanging.com/archives/007470.html Kiva vs. MicroPlace - What's the Difference?] {{webarchive|url=https://web.archive.org/web/20071027060150/http://www.worldchanging.com/archives/007470.html |date=2007-10-27 }}, WorldChanging.com, October 24, 2007. Retrieved November 4, 2007.</ref>
MicroPlace provided everyday investors with the ability to make investments in the [[microfinance]] industry that had the potential to earn interest.<ref>{{Cite news|url=http://www.cbsnews.com/stories/2007/10/31/scitech/pcanswer/main3438829.shtml|title=Fight Poverty With Online Microlending|access-date=2018-05-17|language=en}}</ref> This contrasts with most other services for microlenders, which generally rely on a charitable model. <ref name="KATZ">Robert Katz, [http://www.worldchanging.com/archives/007470.html Kiva vs. MicroPlace - What's the Difference?] {{webarchive|url=https://web.archive.org/web/20071027060150/http://www.worldchanging.com/archives/007470.html |date=2007-10-27 }}, WorldChanging.com, October 24, 2007. Retrieved November 4, 2007.</ref> Interest earned was typically between 1 and 3 percent.<ref>{{Cite news|url=http://blog.wired.com/business/2007/10/ebay-owned-micr.html|title=EBay-owned MicroPlace Launches Microfinance Site|work=WIRED|access-date=2018-05-17|language=en-US}}</ref>


The company acted as a [[broker-dealer]] and is registered with the [[U.S. Securities and Exchange Commission|SEC]] and is a member of [[Financial Industry Regulatory Authority|FINRA]].
The company acted as a [[broker-dealer]] and is registered with the [[U.S. Securities and Exchange Commission|SEC]] and is a member of [[Financial Industry Regulatory Authority|FINRA]].


==History==
==History==
<!-- Commented out because image was deleted: [[Image:MicroPlace_-_the_microfinance_marketplace_1194082027859.jpg|thumb|This is what MicroPlace looked like!]] -->MicroPlace was founded by [[Tracey Pettengill Turner]] and was bought by [[eBay]] for an undisclosed amount in 2006. 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.).
MicroPlace was founded by [[Tracey Pettengill Turner]] and was bought by [[eBay]] for an undisclosed amount in 2006.<ref>{{Cite news|url=http://news.bbc.co.uk/2/hi/business/7060779.stm|title=New eBay site helps finance poor|date=2007-10-24|access-date=2018-05-17|language=en-GB}}</ref><ref>{{Cite news|url=https://uk.reuters.com/article/tech-ebay-microfinance-dc/ebay-site-lets-people-finance-the-worlds-poor-idUKN2336298820071024|title=eBay site lets people finance the world's poor|last=Stempel|first=Jonathan|work=U.K.|access-date=2018-05-17|language=en-GB}}</ref> 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.
Ashwini Narayanan took over as the [[general manager]] of MicroPlace until 2012.
Line 30: Line 30:
==External links==
==External links==
*[http://www.microplace.com/ MicroPlace website]
*[http://www.microplace.com/ MicroPlace website]
*[http://news.bbc.co.uk/2/hi/business/7060779.stm New ebay site helps finance poor]
*[http://uk.reuters.com/article/internetNews/idUKN2336298820071024 New ebay site lets people finance the world's poor]
*[https://web.archive.org/web/20071027060150/http://www.worldchanging.com/archives/007470.html Kiva vs. microplace - What's the Difference?]
*[https://tech.yahoo.com/blogs/raskin/14628 Yahoo Tech: ebay's microplace: An Investment To End Poverty]
*[http://blog.wired.com/business/2007/10/ebay-owned-micr.html Wired: ebay-owned microplace Launches Microfinance Site]
*[http://www.cbsnews.com/stories/2007/10/31/scitech/pcanswer/main3438829.shtml CBS News: Fight Poverty With Online Microlending]


{{EBay}}
{{EBay}}

Revision as of 21:45, 17 May 2018

MicroPlace, Inc.
an eBay Company
Company typeSubsidiary
IndustryImpact Investing
FoundedSan Jose, California, USA (2006)
Headquarters
San Jose, California
,
USA
Key people
Tracey Pettengill Turner, Founder
Websitewww.microplace.com

MicroPlace was an American microfinance provider that focused on retail investors. Started by Tracey Pettengill Turner in 2006, MicroPlace was bought out by eBay Inc that same year.

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

MicroPlace 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.

On January 14, 2014, MicroPlace announced that it would cease offering investments.[6]

References

  1. ^ "Fight Poverty With Online Microlending". Retrieved 2018-05-17.
  2. ^ 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.
  3. ^ "EBay-owned MicroPlace Launches Microfinance Site". WIRED. Retrieved 2018-05-17.
  4. ^ "New eBay site helps finance poor". 2007-10-24. Retrieved 2018-05-17.
  5. ^ Stempel, Jonathan. "eBay site lets people finance the world's poor". U.K. Retrieved 2018-05-17.
  6. ^ "MICROCAPITAL BRIEF: EBay Microfinance Unit MicroPlace Ceases Accepting New Investments". Retrieved 2016-08-05.


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