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Friday, September 16, 2005

Pierre Omidyar Gives $25M Grant To Tufts University

The founder of eBay Inc. and his wife, both Tufts University alumni, gave the university a $25 million challenge grant to be used for undergraduate student scholarships.

Pierre Omidyar, founder and chairman of eBay, the San Jose-based online auction company, and his wife, Pam, are making the second largest gift Tufts has received in its history. Tufts is in Medford, Mass.

The gift is a challenge grant to encourage donors to contribute to a $200 million endowment Tufts is trying to raise to make it a need-blind school. A need-blind school accepts students regardless of their ability to pay the tuition and offers financial aid accordingly.

The Omidyars have founded Omidyar Network, an investment group. Pierre Omidyar, a trustee of Tufts, earned a bachelor of science in computer science from the school in 1988. Pam Omidyar, who sits on the college's advisory board, earned a degree in biology from the school in 1989.

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