MicroPlace

{{Infobox company

| name = MicroPlace

| logo = Image:MicroPlaceNewLogoJpg.jpg

| type = Subsidiary

| foundation = {{start date and age|2006}}, in San Jose, California, U.S.

| founder = Tracey Pettengill Turner

| location_city = San Jose, California

| location_country = U.S.

| key_people =

| industry = Impact Investing

| homepage = {{URL|www.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 that same year.

MicroPlace provided everyday investors with the ability to make investments in the microfinance industry that had the potential to earn interest.{{Cite news|url=https://www.cbsnews.com/news/fight-poverty-with-online-microlending/|title=Fight Poverty With Online Microlending|access-date=2018-05-17|language=en}} This contrasts with most other services for microlenders, which generally rely on a charitable model.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. Interest earned was typically between 1 and 3 percent.{{Cite magazine|url=http://blog.wired.com/business/2007/10/ebay-owned-micr.html|title=EBay-owned MicroPlace Launches Microfinance Site|magazine=WIRED|access-date=2018-05-17|language=en-US}}

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.{{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}}{{Cite news|url=https://uk.reuters.com/article/tech-ebay-microfinance-dc/ebay-site-lets-people-finance-the-worlds-poor-idUKN2336298820071024|archive-url=https://web.archive.org/web/20180518055703/https://uk.reuters.com/article/tech-ebay-microfinance-dc/ebay-site-lets-people-finance-the-worlds-poor-idUKN2336298820071024|url-status=dead|archive-date=May 18, 2018|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}} 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|date=January 2023}}

On January 14, 2014, MicroPlace announced that it would cease offering investments.{{Cite web|url=http://www.microcapital.org/microcapital-brief-ebay-microfinance-unit-microplace-ceases-accepting-new-investments/|title=MICROCAPITAL BRIEF: EBay Microfinance Unit MicroPlace Ceases Accepting New Investments|date=18 March 2014 |language=en-US|access-date=2016-08-05}}

References

External links

[http://www.microplace.com/ MicroPlace website]

Category:EBay

Category:Microfinance

Category:Companies formerly listed on the Nasdaq