GOOD Acquires Jumo

GOOD Worldwide

GOOD, a Los Angeles, California-based media company with a mission to help individuals, businesses, and non-profits live well and do good, announced last week that it acquired Jumo, a social network for causes. Terms of the acquisition were not disclosed.

Jumo was founded by Facebook cofounder Chris Hughes and launched in 2010. According to TechCrunch, Jumo had received $3.5 million in funding from sources including the Omidyar Network and the Knight Foundation.  Hughes will join GOOD as a senior advisor and according to an e-mail sent to Jumo members "in the spirit of our heritage as a non-profit, [Jumo] will be open-sourcing our own codebase to enable other social entrepreneurs to use our progress thus far for their own endeavors."

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Jumo Receives Up To $750,000 From Omidyar Network

Omidyar Network, a philanthropic investment firm dedicated to harnessing the power of markets to create opportunity for people to improve their lives, announced earlier this month that it has provided a grant of up to $750K to Jumo, a company that is building a web-based platform for connecting individuals with cause-based organizations.  Jumo's founder is Chris Hughes, who is a co-founder of Facebook. In conjunction with this grant, Chris Bishko, Omidyar Network director of investments, will join Jumo’s board of directors. 

“Omidyar Network has extensive experience with both for-profit and philanthropic online marketplaces," Bishko said. "We believe Jumo is pursing a powerful opportunity to leverage networking technologies to facilitate deeper engagement between individuals and cause-based organizations."

Jumo is scheduled for launch later this year. Some additional background is available in the following video.