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Streaming video service, Amazon Prime, has announced the launch of a new localized version of its streaming service in Nigeria.  The company launched in Africa in 2016 and is committed to expanding its services to more than 200 countries. Amazon Prime also plans to expand its services in other markets like South Africa to boost its subscribers in new markets.   The video streaming services will feature local-language interfaces and subtitling. The launch will benefit the local community as the platform is committed to investing in local production and aims to

Digital investment platform, Stackwell Capital, has raised $3.5 million. The funding round was led by Michael Gordan, president of Fenway Sports Group, Jeremy Sclar, and The Kraft Group. Venture capital firm Shea Ventures, SSC Venture Partners, Shorehaven Wealth Partners, and Theo Epstein, a consultant to Major League Baseball, also participated in the funding round.  Stackwell Capital, founded in 2021 by Trevor Rozier-Byrd, is a digital investment platform created to eliminate the racial wealth gap by empowering a new community of Black investors. In addition, the platform works to provide Black

Black Business Month has officially arrived.  To kickstart this month, online marketplace, FLOURYSH, has announced its partnership with e-commerce platform, Shopify, to help elevate 1 million Black-owned businesses, providing them with the necessary tools needed to scale and grow.  The FLOURYSH x Shopify partnerships aim to address the lack of access to information, a common setback for aspiring entrepreneurs. According to the press release, Black business owners receive a 120-day free trial on the e-commerce platform. “The partnership came to be because of our continued commitment to providing resources and

Black-owned digital marketplace, Clutch, has raised $1.2 million in a pre-seed investment fund. The funding round which Precursor Ventures led also included Capital Factory and HearstLab.  Clutch, co-founded in 2020 by Madison Long and Simone May, is a digital marketplace for emerging brands and creators. According to the outlet, Long and May built the platform to provide a space where creators can launch, market, and grow their side hustles. Clutch works to create a world where authentic, engaging work supports a more sustainable, equitable lifestyle. As a people-first platform, creators

Adesuwa Okunbo Rhodes is the Managing Partner and Founder of Aruwa Capital Management and one of a handful of women leading VC firms in Africa. Aruwa invests between $500,000 and $2.5 million in post-seed stage startups. Beyond being able to invest in an underrepresented market, existing data suggests that gender diversity improves companies’ profitability, and Rhodes was keen to exploit this. “I’ve been in the industry for 14 years. I was running a fund prior to launching Aruwa, and when I was fundraising for that fund, I looked around and saw that there

Black Coffee, the famed South African DJ and record producer, whose real name is Nkosinathi Maphumulo, backed Andela, a tech talent incubator and unicorn launched from Lagos in 2015. But he’s not the only musician dipping his toe into the tech scene – African artists worldwide are using personal funds and collectives to invest in startups. Mr. Eazi, real name Oluwatosin Ajibade, made headlines in Africa’s tech circles following his investment in pawaPay, a UK-based and Africa-focused mobile payments company through Zagadat Capital. But unlike Jay-Z and many other African-American musicians now entering

The business and tech industry has created two flaws, according to Henri Pierre-Jacques, a managing partner at Harlem Capital. Sharing his thoughts on the investor ecosystem on Linkedin, he said: “young companies are now all called ‘startups,’ implying they are tech-focused when most aren’t […] We push all young companies towards VC when most shouldn’t raise venture capital. “There aren’t enough ways for young companies that aren’t startups to get growth capital, so they have been essentially forced to become ‘startups’ to target VC.” For context – back in March

TikTok’s African moderators are calling out the platform for forcing them to review hundreds of disturbing and graphic videos with little to no psychological help.  According to a report by Business Insider, moderators spent hours reviewing graphic videos for less than $3 an hour. From viewing horrific child-abuse material to explicit videos of people dying by suicide, moderators undergo psychological distress because of their jobs.  “The devil of this job is that you get sick slowly – without even noticing it. You think it’s not a big deal but it

American actress Sonequa Martin-Green has teamed up with snack brand Frito-Lay Variety Packs and STEM Next’s Million Girls Moonshot to provide young girls with science, technology, engineering, and mathematics learning opportunities.  The partnership, which will come under the Back-to-School Blast Off program, aims to encourage the next generation of women to pursue careers in STEM. Through the initiative, families can enjoy STEM activities created by NASA scientists using everyday household items, such as designing a heat shield or building a moon lander. “Representation matters, and sometimes, all it takes to

California-based VC firm, L’Attitude, has launched its new fund to support early-stage Latino founders.  The investment firm raised $100 million from big-name investors, including Bank of America, Trujillo Group, Barclays, Cisco, Royal Bank of Canada, and a “strategic anchor investment” from JPMorgan Chase.  According to the outlet, Latino business owners have grown 34% over the last decade. Yet, despite this, 72% of Latino entrepreneurs face funding shortfalls, with a large majority relying on personal savings, and only 1.8% are venture-backed.  L’Attitude, founded in 2019 by Kennie Blanco and Sol Trujillo,

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