Facebook is a technology firm that has gradually increased its commitment to connecting with diverse business. While the company’s workplace diversity numbers are well know, what is not as well advertised is its purchasing with suppliers majority owned by diverse individuals. According to the company, Facebook is committed to spending dollars with certified companies that are “majority-owned, operated and controlled by racial and ethnic minorities, women, veterans, LGBTQ people and differently-abled entrepreneurs.”
In 2017, the company revealed that it spend $204.9 million with suppliers meeting this criteria “as well as $28.7 million with companies similarly certified with public programs at the local, state and federal levels.”
This is a big win for diverse businesses and a good promotion to inform suppliers that there are now tons of opportunities in the million dollar range with Facebook. With this being the first supplier diversity number I’ve seen from the company, I do believe this is an excellent starting point and one that should see growth as their program develops further. While nothing was given in terms of future opportunities, the starting place of $200 million is definitely an encouraging sign and one that can help those that were questioning Facebook’s commitment to diversity understand its strategy a bit better.