Uber Inc. (NYSE: UBR) will donate a million dollars to two justice reform groups to express solidarity with the black community in the wake of the protests that have escalated over the killing of George Floyd.

What Happened

The CEO of Uber, Dara Khosrowshahi, tweeted Sunday the company “stands in solidarity with the Black community and with peaceful protests.”

He also pledged a donation to help with criminal justice reforms adding, “Lasting change will only come from reforming the systems that have led us to where we are today. To that end, we’re donating $1M to [Equal Justice Initiative] and [Center for Policing Equity] to support their important work in making criminal justice in America more just for all.”

Equal Justice Initiative, is a nonprofit that works against mass incarceration, while the Center for Policing Equity supports police transparency and equity.

Why It Matters

Uber is the first company to announce a direct donation in support of the black community, according to Business Insider.

The ride-sharing company has had its own share of controversies over race. Its chief people officer resigned in 2018 due to allegations concerning her handling of an investigation that involved racial discrimination.

Other companies, too, are expressing solidarity with the protests. Microsoft Corporation's (NASDAQ: MSFT) Chief People Officer has tweeted support, and T-Mobile Us Inc. (NASDAQ: TMUS) has taken to Twitter as well.

Uber Price Action

Uber shares traded 0.66% lower at $36.08 in the after-hours session on Friday. The shares had closed the regular session 6.32% higher at $36.32.

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