Netflix to invest up to $100 million in Black community development | News

Netflix has announced plans to allocate 2 percent of its cash holdings — up to $100 million initially — to financial institutions and organizations that directly support Black communities in the United States.

Initial commitments announced by the media distribution company to expand social mobility and economic opportunity include $25 million in support of the Black Economic Development Initiative, a new fund managed by the Local Initiatives Support Corporation (LISC), which will…

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