Silicon Valley startup HopeLink has donated 1.38 million shares, or 20 percent of its stock, to Web of Hope, a new public foundation, CNET News reports.
The mission of HopeLink, which is developing an Internet information service linking people to medical treatments for a wide range of conditions, naturally led it to philanthropy, said Jim Messemer, it’s chief executive.
Web of Hope aims to provide access for underserved people, particularly minorities in urban areas, to a range of medical treatments.
It was created this year to fund primary research for underfunded diseases, provide information services for doctors and patients, and provide additional funding to existing nonprofits.
Investors at HopeLink, which grew out of co-founder Kathryn Tunstall’s experience with breast cancer, include Andreas Bechtolsheim, Sun Microsystems founder; Ram Shiram, former Netscape and Amazon executive; Michael Gelman, executive producer of ABC’s “Live with Regis and Kathie Lee.”