Tonight at the Newseum, Sir Tim Berners-Lee announced the creation of the World Wide Web Foundation.

The new foundation's mission as articulated by Berners-Lee:

-to advance One Web that is free and open,
-to expand the Web's capability and robustness,
-to extend the Web's benefits to all people on the planet.

The Knight Foundation is funding a $5 million seed grant over five years. Sir Tim Berners-Lee:

Knight CEO and president Alberto Ibarügen announcing the $5 million seed grant to the World Wide Web Foundation:

More details in the press release, tonight's speech and on the World Wide Web Foundation site.