The Namaste Foundation Receives Gift of 10% of Inflection Shares
Happy New Year!
Effective today, the Namaste Foundation owns 10% of Inflection and becomes one of the company's largest shareholders. These shares are being held at a donor-advised fund at the Silicon Valley Community Foundation.
We are proud of this development because it strengthens Inflection's social mission, exemplifies the kind of corporate responsibility we feel is important, and scales the potential impact Namaste Foundation can have in the world.
The Inflection family has a history of involvement with nonprofit causes. In 2010, we began a program called "Release for Charity," where each monthly upgrade of our software triggers an ever-increasing charitable contribution to a nonprofit nominated by an Inflection team member. For birthday celebrations, we've replaced most of our fancy cakes with donations to our favorite charities. When a new college grad class begins, we spend a day volunteering for Habitat for Humanity. At last year's inaugural SV Gives Day, Inflection team members supported 68 local nonprofits. We've found that a culture that values giving and community leads to greater enjoyment, purpose, and service in the work we do.
As Inflection has grown, so too has our ambition. No longer a bootstrapped startup struggling to survive, we've become stewards of increasing levels of financial and human capital. This brings both greater responsibility and opportunity. With the leverage offered by technology, and the abundant opportunities to deploy capital for good, we are privileged to establish this deeper alignment between Inflection's scale and the Namaste Foundation giving platform.
The gifted shares are coming from Brian and myself, and will continue to be treated in nearly identical ways as the rest of Inflection's company shares. In future blog posts, we'll write more about the tax and legal mechanics of this donation so that other startups and entrepreneurs can learn from our experience. In the meantime, if you're interested in doing something similar for your company, please don't hesitate to reach out and we'd be happy to provide any tips or introductions.
We'd like to express our deepest gratitude to the Inflection team, past and present, for it is your hard work and effort that make this all possible. We also appreciate our terrific investors and board, Josh Hannah from Matrix Partners and Greg Sands from Costanoa Venture Capital, and the legal teams involved, for their unflinching support of Inflection's giving endeavors. Lastly, we're thankful to the Silicon Valley Community Foundation for their forward-looking actions and partnership.
Here's to an exciting year of growth and service ahead. Onward!