E-commerce success fuels photojournalism fund

A Web entrepreneur helps young photojournalists focus on injustices worldwide.

EMAIL  |   PRINT  |   SHARE  |   RSS
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)

Shine a light
FiftyCrows, a foundation started by entrepreneur Andy Patrick with proceeds from the sale of his company, funds emerging photojournalists. Below is a selection of images from What Matters, a recent collection FiftyCrows helped sponsor chronicling urgent issues around the world.
Serial entrepreneur Andy Patrick, FiftyCrows' founder.

(Fortune Small Business) -- According to a Native American myth, crows look back with one eye and into the future with the other. Serial entrepreneur Andy Patrick, 47, applied that philosophy to create FiftyCrows Foundation, a nonprofit that funds photojournalists who document injustices throughout the world.

Patrick's first venture, a shopping service for his snowbound neighbors, was a success before he turned 11. His biggest triumph was Adjacency Brand New Media, an e-commerce Web site developer that he launched in 1995. Patrick and his partners sold Adjacency in March 1999 for $67 million in stock, which proceeded to triple in value over the next 12 months.

"Being lucky is a big part of success," he says. "I decided to turn my good fortune into something that could bring about positive change."

The sale of Adjacency provided the capital for FiftyCrows. In October 2001, Patrick set up the foundation with $740,000 in seed money. Today FiftyCrows uses proceeds from the sale of works by established photographers (think Bruce Davidson, Eve Arnold and Sebastio Salgado) to fund photojournalists whose work shows potential to improve the world.

Over the years, FiftyCrows has raised and distributed roughly $300,000 in grants to young artists such as Stephanie Sinclair, who produced a searing photo essay about child marriage in Aghanistan, and Victor Sira, who documents the hardships of illegal immigrants from Central America and Mexico.

In addition to cash grants, FiftyCrows provides young documentary photographers with media tools to help showcase their work more effectively. Each grantee receives a free Web site hosted by Patrick's most recent for-profit venture, liveBooks.com, which creates Web-based applications for professional photographers. And the FiftyCrows Foundation - along with National Geographic - recently sponsored the publication of David Elliot Cohen's book What Matters, in which noted writers and photographers (including Sinclair) zero in on crucial contemporary issues such as genocide, poverty and global warming.  To top of page

To write a note to the editor about this article, click here.

QMy dream is to launch my own business someday. Now that it's time to choose a major, I'm debating if I should major in entrepreneurial studies or major in engineering to acquire a set of skills first. Is majoring in entrepreneurship a good choice? More
Get Answer
- Spate, Orange, Calif.

More Galleries
10 of the most luxurious airline amenity kits When it comes to in-flight pampering, the amenity kits offered by these 10 airlines are the ultimate in luxury More
7 startups that want to improve your mental health From a text therapy platform to apps that push you reminders to breathe, these self-care startups offer help on a daily basis or in times of need. More
5 radical technologies that will change how you get to work From Uber's flying cars to the Hyperloop, these are some of the neatest transportation concepts in the works today. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.