The Billion Dollar Roundtable Inc. (BDR) recently inducted Meta Platforms Inc., the provider of Facebook, Instagram and other ubiquitous social media platforms, into the top-level corporate advocacy organization, which promotes supplier diversity excellence and best practices.
As a member of Billion Dollar Roundtable, Meta joins an exclusive group of U.S.-based corporations that reach $1 billion or more annually in Tier 1 supply-chain diversity spend. Meta, whose supplier diversity program launched in October 2016, spent $1.26 billion with U.S. diverse suppliers in 2021, surpassing the company’s 2020 public commitment to spend at least $1 billion.
Today’s formal induction ceremony was a part of the Billion Dollar Roundtable’s annual summit in Jersey City, N.J.
“Meta has leveraged its size, influence and innovation to quickly develop a strong, sustainable supplier diversity program that enables other businesses to grow,” said BDR Chairman Shelley Stewart Jr. “ Products like Facebook and Instagram will create many new supply-chain opportunities for diverse suppliers. Meta’s work embodies the mission of our organization to drive supplier diversity excellence, and we are excited to welcome Meta as a Billion Dollar Roundtable member company.”
Since the launch of its program, Meta has spent more than $3 billion with U.S. companies certified as majority-owned, operated and controlled by racial and ethnic minorities, women, veterans, members of the LGBTQ+ community, and/or people with disabilities. Meta’s approach to supplier diversity includes using the company’s global social platforms and products to help suppliers grow and scale their businesses by connecting them with people and communities. The company is one of the fastest ever to reach $1 billion in spend with Diverse Suppliers.
“While we are certainly proud of the work that has allowed us to exceed $1 billion in diverse supplier spend for the first time in 2021 – and formally join the Billion Dollar Roundtable less than a year later – we are now hard at work to normalize $1B in sustainable annual diverse supplier spend,” added Jason Trimiew, Director of Global Supplier Diversity at Meta. “Our team looks forward to building the foundation for the next five years of industry-leading impact, and even more excited to do this alongside our Billion Dollar Roundtable peers.”
Meta joins these major U.S.-based corporations as member companies of the BDR: Adient, Apple Inc., AT&T Inc., Avis Budget Group, Bank of America, The Boeing Co., CDW, Comcast NBCUniversal, Cummins Inc., CVS Health, Dell Inc., Entergy Corp., Exelon Corp., Ford Motor Co., General Motors Corp., Google, The Home Depot, Honda North America, IBM Corp., Johnson & Johnson, JPMorgan Chase & Co., Kaiser-Permanente, The Kroger Co., Merck & Co., Microsoft Corp., Pacific Gas and Electric Co., Procter & Gamble Co., Stellantis, Toyota Motor North America Inc., Verizon Communications Inc. and Wal-Mart Stores Inc.
“Joining the Billion Dollar Roundtable speaks to a company’s commitment to diverse suppliers and to improving the broader business community. We entered our third decade as an organization in 2021, and Meta joins us at a great time in our history. We look forward to working with Meta to ensure greater participation of diverse companies into corporate supply chains,” said BDR President and CEO Sharon Patterson.
ABOUT THE BILLION DOLLAR ROUNDTABLE
The Billion Dollar Roundtable, created in 2001, is a non-profit organization that comprises U.S. corporations that each spend $1 billion or more annually on a Tier 1 basis with diverse suppliers. The BDR recognizes and celebrates corporations that achieve this status and promotes and shares best practices in supply-chain diversity excellence. BDR member companies review and discuss issues, challenges and strategies related to supplier diversity as a means to advance supply chain opportunities for both corporations and diverse suppliers. The BDR is publisher of the title “Supplier Diversity Best Practices: Building Excellence to Improve the Supply Chain Matrix.” For more information about the BDR, visit www.billiondollarroundtable.org/.
Meta, headquartered in Menlo Park, Calif., builds technologies that help people connect, find communities, and grow businesses. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology. For more information about the Meta, visit www.meta.com.
Sharon Patterson Billion Dollar Roundtable Desirée Vodounon Meta Facebok Instagram Annual Spend with Diverse Suppliers supplier diversity supplier diversity excellence U.S.-based corporations U.S. diverse suppliers Tier 1 supply-chain diversity spend Jersey City N.J. Shelley Stewart Jr. Jason Trimiew Global Supplier Diversity Supply Chain Matrix BDR Adient Apple Inc. AT&T Inc. Avis Budget Group Bank of America Boeing Co. CDW Comcast NBCUniversal Cummins Inc. CVS Health Dell Inc. Entergy Corp Exelon Corp Ford Motor Co. General Motors Corp. Google The Home Depot Honda North America IBM Corp Johnson & Johnson JPMorgan Chase & Co Kaiser-Permanente The Kroger Co. Merck & Co Microsoft Corp. Pacific Gas and Electric Co. Procter & Gamble Co. Stellantis Toyota Motor North America Inc. Verizon Communications Inc. Wal-Mart Stores Inc