Following in the footsteps of Square, Snap has established a foundation which it will infuse with up to 13 million Class A shares. The proceeds will be used to benefit the arts, education, and the youth, but the exact contribution won’t be immediately known until after the company begins trading as a public company. However, it’s expected to last over the course of the next 15 to 20 years.

The self-titled foundation was established in February, but few details have been revealed. It’s unclear who will oversee the organization and which charities and non-profits will benefit from Snap’s generosity.

As mentioned earlier, the company’s move into charitable good follows similar efforts by Square, and likely a trend of other tech companies who have signed the 1% pledge. When the former went public, its chief executive Jack Dorsey revealed he was giving up at least 50 percent of his stake and donating it to the Start Small foundation, which would benefit underserved businesses and merchants. Other firms have elected to participate in the well-known 1% pledge to give 1% of their time, resources, and stock to nonprofits.

The Snap Foundation’s approach towards the arts and education is fitting since Snap is a camera company, focusing on the arts and creativity seems to match. But this isn’t exactly Snap’s first foray into philanthropy because it has tried to make itself a good corporate citizen by giving back to those in the community around its Venice headquarters. It also previously participated in Giving Tuesday to raise money for the (RED) foundation.

We’ve reached out to Snap for more details, but because it’s in a quiet period, the company declined to comment.

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