TikTok is chipping into the global fight against COVID-19 with one of the largest financial contributions we’ve seen yet from a major tech company. The video-sharing platform has been one of the biggest bright spots of joy and inspiration during this quarantine age, and now it’s ready to pay it back.
On Thursday, the company revealed it is pledging $375 million in relief that will be distributed in various ways to individuals, hospitals, companies and other organizations.
“We are committed to playing our part in that global outpouring of mutual support and giving,” wrote TikTok President Alex Zhu. “We want to magnify all we are seeing across our community and translate it into concrete relief for those most affected by this crisis.”
TikTok is ready for COVID-19 fight
Instead of just donating to $375 million to one organization, TikTok is being judicious and splitting the aid up into multiple packages of relief. Here’s the different ways the money will be distributed:
– $150 million will go to the Health Heroes Relief Fund to provide medical staffing, supplies, and hardship relief for health care workers.
– $100 million worth of TikTok ad credits will be made available to millions of small and medium-sized businesses struggling to get back on their feet due to COVID-19.
– $40 million (plus an additional $10 million in matching donations) goes to TikTok’s Community Relief Fund to assist organizations helping communities hit hardest by the health crisis.
– $50 million will go to supporting distance learning initiatives.
– $25 million in TikTok ad credits will be given to help trusted organizations deliver crucial public health information.
When it’s all over, TikTok will have given out $125 million in ad credits and $250 million in cash to various organizations. Full details of which organizations and funds will be getting the money are available on TikTok’s blog post. The company also says it’s working with global and local partners to distribute masks and other personal protective equipment to hospitals across India, Indonesia, Italy, South Korea, and the US, among other hard-hit countries.
TikTok isn’t the only tech company donating big for the pandemic though. Google revealed at the end of March that it created a $200 million investment fund for COVID-19 relief along with $250 million in ad credits it will distribute. Apple opened a $50 million fund to support indie artists as well.