Bitcoin teller machines (BTMs) in the U.S. are disproportionately installed in areas with large Black and Latine populations, a Bloomberg analysis has revealed. BTMs in Black and Latine areas The number of BTMs, which allow people to convert cash into Bitcoin, has risen drastically over the last four years, now totalling around 31,100 units nationwide. These machines, commonly found in gas stations and convenience stores, saw a surge during the pandemic as interest in digital currencies grew. However, a Bloomberg analysis has revealed that the machines are disproportionately installed in
Group Black has announced the acquisition of Galore Media Inc., a digital culture magazine that reaches 15 million users monthly. The Black-owned media company is also expanding its media influence with the launch of the “She’s Good [For Real]” Black women’s health platform and new data technologies. The Galore Acquisition Galore is known for spotlighting cultural icons such as Zendaya, Bad Bunny, and Kylie Jenner on their covers and its collaborations with major brands like Samsung, Apple, and Estee Lauder. “Galore is on the cutting edge of culture and I
American Screening, a drug and medical testing supplies distributor in Louisana, has agreed to pay $50,000 to settle a race discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC). The case centered around Imani Jackson, a Black employee who was fired after she decided to wear her natural hair to work. Fired over her wearing natural hair Imani Jackson’s daily routine involved spending 45 minutes each morning concealing her natural hair under a cap and gluing on a wig with straight hair. This routine wasn’t just time-consuming; it
Afro Unicorn has announced its expansion into immersive gaming platform Roblox. Founded in 2019 by April Showers, Afro Unicorn is a brand designed to represent the uniqueness of women and children of color in a truly diverse and inclusive fashion. “Bringing Afro Unicorn to Roblox is a momentous occasion to positively impact a new generation of youth, including digital trendsetters and innovators,” said Showers in a press release. Creating Afro Unicorn Showers’ journey to creating Afro Unicorn was sparked by a desire to see more inclusive representations of beauty and empowerment.
Verod-Kepple Africa Ventures (VKAV) has announced the closure of its first fund at $60 million. A Pan-African Vision with Global Backing VKAV is a collaborative effort between West African private equity firm Verod Capital Management and Tokyo-based venture capital firm Kepple Africa Ventures. Notably, the fund includes backing from Japanese powerhouses such as SBI Holdings, Toyota Tsusho Corporation, and Sumitomo Mitsui Trust Bank. Nigeria’s SCM Capital and other institutional investors from Japan, including Taiyo Holdings also contributed. VKAV’s investment strategy focuses on digital infrastructure builders, efficiency solvers, and market creators.
Last week, Grammy-nominated artist Bryson Tiller released his self-titled fourth studio album, his first LP in four years. However, fans may have to wait even longer for his next release as the 31-year-old plans to take a hiatus from music to focus on video game design. From music to game design In an interview with Complex, Tiller shared he would be taking hiatus from music to focus on his passion for video game design. “I would love for this [album] to be the last one for a while,” Tiller shared.
Nearly 60% of Black small- and mid-sized business (SMB) owners on TikTok say that the app is critical to their business’ existence, a new Oxford Economics report has found. TikTok’s Value For Small businesses Oxford Economics, in collaboration with TikTok, sought to understand the app’s economic value for local communities across the US. It surveyed 1,050 SMBs and 7,500 users in 2023 to gauge interactions and benefits derived from the app. Small and medium businesses generated $14.7 billion in revenues and supported 224,000 jobs on TikTok supported 224,000 jobs, the
In the first quarter (Q1) of 2024, Africa’s startup scene saw another year-on-year and quarter-on-quarter dip in investments – with a notable exception in the mobility and fintech sectors. A drop in funding According to Africa: The Big Deal, Q1 saw $466 million raised through $100k+ deals by 121 startups (excluding exits). This is a 27% decrease from the previous quarter and only half of the amount raised at the same time last year. Techpoint Africa’s analysis of data from Intelpoint notes a 62% drop in African tech startup funding compared
NASA has announced the first winners of its Space Tech Catalyst prize, which aims to engage more underrepresented and diverse individuals in space tech. The initiative is part of NASA’s broader commitment to fostering a more inclusive environment. Each Space Tech Catalyst prize winner receives $25,000 to contribute to creating a more inclusive space technology ecosystem. “As NASA continues to explore the unknown, making the impossible possible, we are committed to engaging talents from all backgrounds to advance exploration,” said Shahra Lambert, NASA’s senior advisor for engagement, in a press statement.
Last year, African startups raised $2.9 billion in deals worth $100,000 and above (excluding exits). Although this amounts to a 39% drop compared to 2022, the continent is showing signs of resilience. Shifting investor landscape In 2023, Techstars was the top investor with 56 deals, surpassing Launch Africa. Other key players included Founders Factory Africa, Ventures Platform, Norrsken, and Y Combinator. All but Norrsken did fewer deals in 2023 than in 2022. For example, YC added only 12 African startups to its 2023 cohorts, compared to 43 in 2022 and
