神马文学网Weekly News Roundup: SKS Microfinance IPO, Fa...
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Weekly News Roundup: SKS Microfinance IPO
Allie Burns on 30 Jul 2010News from the Case Foundation and what people are talking about this week in the world of giving, tech and everything in between.
IPO of Indian microfinance firm raises questions about ties to Unitus
A few weeks ago in the weekly roundup, we covered the surprising closure announcement from Seattle-based microfinance firm, Unitus. Since that time, the story has taken some interesting twists and turns. In mid-July, as Sean Stannard-Stockton of Tactical Philanthropy (who has done an excellent job of following the storyline as it unfolds) shared, Unitus leadership sent an email to supporters clarifying that the organization is not actually shutting down, and providing additional rationale for shifting its focus away from microfinance and shedding most of its staff. The story took an interesting turn last Friday, when Clay Holtzman of the Puget Sound Business Journal, who has been following the story quite closely since the initial reorganization announcement was made by Unitus, wrote an article that detailed how Unitus investors stood to profit from the planned IPO of India's largest microlender, SKS Microfinance. Additional details are provided in this piece from Portfolio.com, which notes:
As the SKS IPO nears, the potential return is raising questions about the ethics of combining charity and business—and the extent to which Unitus founders and board members may profit personally from their investments