MicroPlace
Encyclopedia
MicroPlace, founded in 2006, is a broker-dealer registered with the SEC and a member of FINRA
(formerly NASD), MicroPlace is currently the only online introducing broker-dealer specializing in microfinance securities for retail investors. Started by Tracey Pettengill Turner
, MicroPlace was bought out by eBay Inc. in 2006.
MicroPlace provides everyday investors with the ability to make investments in the microfinance
industry that have the potential to earn interest. This contrasts with most other services for microlenders, which generally rely on a charitable model.
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.). Currently, Ashwini Narayanan has taken over as the general manager
of MicroPlace.
Financial Industry Regulatory Authority
In the United States, the Financial Industry Regulatory Authority, Inc., or FINRA, is a private corporation that acts as a self-regulatory organization . FINRA is the successor to the National Association of Securities Dealers, Inc. ...
(formerly NASD), MicroPlace is currently the only online introducing broker-dealer specializing in microfinance securities for retail investors. Started by Tracey Pettengill Turner
Tracey Pettengill Turner
Tracey Pettengill Turner, a social entrepreneur, is the founder of MicroPlace, provider of microfinance, now a PayPal affiliate and a wholly owned subsidiary of eBay Inc....
, MicroPlace was bought out by eBay Inc. in 2006.
MicroPlace provides everyday investors with the ability to make investments in the microfinance
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
industry that have the potential to earn interest. This contrasts with most other services for microlenders, which generally rely on a charitable model.
History
MicroPlace was founded by Tracey Pettengill TurnerTracey Pettengill Turner
Tracey Pettengill Turner, a social entrepreneur, is the founder of MicroPlace, provider of microfinance, now a PayPal affiliate and a wholly owned subsidiary of eBay Inc....
and was bought by eBay
EBay
eBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...
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
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
, etc.). Currently, Ashwini Narayanan has taken over as the general manager
General manager
General manager is a descriptive term for certain executives in a business operation. It is also a formal title held by some business executives, most commonly in the hospitality industry.-Generic usage:...
of MicroPlace.
External links
- MicroPlace website
- New ebay site helps finance poor
- New ebay site lets people finance the world's poor
- Kiva vs. microplace - What's the Difference?
- Yahoo Tech: ebay's microplace: An Investment To End Poverty
- Wired: ebay-owned microplace Launches Microfinance Site
- CBS News: Fight Poverty With Online Microlending