SOURCE: hi5

December 18, 2008 09:03 ET

hi5 and Kiva Partner to Raise Money for Alleviating Poverty in Developing Countries

hi5.com Asks Users to Begin Donating Online During the Holidays

SAN FRANCISCO, CA--(Marketwire - December 18, 2008) - hi5, one of the world's largest and fastest-growing social networks, and Kiva.org, the world's first person-to-person micro-lending website, today announced a joint partnership beginning in the 2008 holiday season. Users of hi5.com will be able to make direct person-to-person microloans via a Kiva.org community profile on the website, which will allow them to lend directly to entrepreneurs in the developing world or in their own backyard.

As the project begins, hi5 and Kiva will track all loans and report back to the community on an ongoing basis. hi5 members can make direct loans through the site using a credit card or a PayPal account. hi5 will promote the Kiva partnership throughout its site, and all loan transactions will be managed by Kiva.org.

"We are firm believers in Kiva's principles of helping to alleviate poverty through supporting developing world entrepreneurs. Given our global reach and our ability to connect people, we're thrilled that hi5 members can help finance Kiva entrepreneurs," said Ramu Yalamanchi, CEO of hi5. "By allowing hi5 members to support Kiva entrepreneurs, we are making available, crucial resources for entrepreneurs around the World that want to change their own destiny."

"When a hi5 user chooses someone to lend to, and then makes a loan, they are helping a real person make great strides towards economic independence and improving life for themselves, their family and their community," said Matt Flannery, CEO of Kiva.org. "By partnering with hi5 we know we are reaching a broad, global audience of passionate youth who are eager to see change happen and be part of that change."

About Kiva.org

Kiva.org (www.kiva.org) is the world's first person-to-person micro-lending website, empowering individuals to lend directly to an entrepreneur in the developing world. Founded in 2005, Kiva.org's mission is to connect people, through lending, to alleviate poverty. Kiva.org currently connects lenders in more than 100 countries with entrepreneurs in 42 developing countries, through 93 microfinance partners. Kiva.org is headquartered in San Francisco.

About hi5 Networks

Headquartered in San Francisco, hi5 is one of the world's largest and fastest growing social networks and mobile web networks. Our focus is to empower our users to build and maintain connections between friends and family online. With over 56 million unique visitors every month, hi5 is a top 20 website globally and the number one social network in 31 countries across Latin America, Europe, Asia and Africa. The service is available in 37 languages, delivering localized content and applications to users worldwide.

Contact Information

  • Contact information:
    Shelley Risk
    Horn Group for hi5
    (415) 905-4037
    Email Contact