Fb COO Sheryl Sandberg plans to donate all of her shares in SurveyMonkey to charity when it goes public.
The “Lean In” creator owns 9.9% of the corporate. She joined the startup’s board after her late-husband Dave Goldberg died out of the blue whereas on trip in Mexico in 2015. Goldberg was the CEO.
SurveyMonkey revealed the deliberate donation in its IPO submitting on Wednesday.
“Ms. Sandberg plans to donate all shares beneficially owned by her (or the proceeds from the sale thereof) to the Sheryl Sandberg and Dave Goldberg Household Basis as a part of fulfilling their philanthropic dedication to the Giving Pledge,” the submitting stated.
The Giving Pledge is an initiative created Warren Buffett and Invoice and Melinda Gates to encourage the rich to donate a few of their cash to charitable causes.
Sandberg’s basis helps her causes Lean In and Possibility B. The previous creates applications that “advance alternatives for all girls” and the latter helps individuals take care of grief after a loss, in line with the web site.
How a lot Sandberg’s shares are value can be decided by how SurveyMonkey’s inventory performs when it goes public later this 12 months. The corporate plans to commerce on the Nasdaq underneath the ticker “SVMK.”
SurveyMonkey CEO Zander Lurie praised Goldberg for serving to develop the corporate.
“Anybody who knew Dave will perceive how devastating it was for the corporate—for all of Silicon Valley, truly—to lose such a visionary. Organizations that endure that form of shock can both unravel or rally. We rallied,” Lurie wrote within the submitting. “I consider the corporate is extra empathetic, extra resilient and extra decided due to Dave’s life and demise.”
Sandberg is value $1.7 billion, in line with Forbes. She has donated greater than $200 million to charity within the type of Fb inventory in recent times, together with $100 million final August and one other $100 million well worth the 12 months prior.
CNNMoney (New York) First printed August 30, 2018: 9:08 AM ET