Market Overview

TikTok Donates $3M To Schwarzenegger's Charity To Help Children Affected By Coronavirus Outbreak

Share:
TikTok Donates $3M To Schwarzenegger's Charity To Help Children Affected By Coronavirus Outbreak

Social media company TikTok is donating $3 million to help feed children affected by school closures during the novel coronavirus (COVID-19) outbreak, it announced Thursday.

The money would be donated through After-School All-Stars, a charity founded by former California governor Arnold Schwarzenegger.

The ByteDance subsidiary would also match employee donations up to $1 million, it said.
"As schools across the country close, one of the greatest challenges facing many parents is how to feed their children," TikTok said in a statement. "Millions of students, teachers and families depend on school resources for more than learning."

The amount donated by the company would be used for the distribution of food credits and gift cards for ASAS grocery partners in 60 cities across the United States.

Some of ASAS grocery partners include Walmart Inc. (NYSE: WMT), Target Corporation (NYSE: TGT), and the Kroger Company (NYSE: KR).

"While our [ASAS] programs are paused with schools closed, we take our responsibility to serve the 100,000 families we work with year-round to provide a safe place for their children to learn and grow after-school seriously," Schwarzenegger said in a statement.

"I want to thank my friends at TikTok for their donation, because it will allow us to pivot to use our After-School All-Stars team to deliver groceries and gift cards for groceries to the families we help."

Photo Credit: Courtesy of After-School All-Stars.

 

Related Articles (KR + TGT)

View Comments and Join the Discussion!

Posted-In: ByteDance Schwarzenegger TikTokNews Tech Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com