The nation’s largest beauty retailer, Ulta Beauty, is now accepting applications for its MUSE Accelerator, an inaugural program dedicated to supporting early-stage BIPOC beauty brands to launch and thrive in retail. Officially starting in September, eight successful applicants will receive $50,000 in financial support to propel brand development in addition to resources designed to prepare each for retail readiness and long-term success. This will include opportunities to learn from experts across various industries such as merchandising, supply chain, legal, and marketing, as well as brand founders and industry leaders’ engagement
E-commerce platform Gander announced today the closing of a $4.2 million seed round co-led by Harlem Capital and Crossbeam Venture Partners. Gander, which collects and embeds user-generated video content into retail sites so shoppers can see what a product looks like in real life, was launched in late 2021. It also has a creator marketplace, which gives brands direct access to the video content. This round adds the startup’s founder Kimiloluwa Fafowora, 26, to the growing list of Black women who have raised $1 million or more in VC funding.
Lagos and San Francisco-based Klasha has received an additional $2.1 million to complete its $4.5 million seed round. The startup, which provides multiple products for the cross-border commerce space in Africa, raised this new financing from a group of international investors co-led by American Express Ventures, the strategic investment group of American Express. The round also included Global Ventures, the MENA-focused VC that has backed the likes of Tabby, Helium Health, and Paymob. Jess Anuna first founded Klasha in 2018. At the time, the company’s focus was to make it easier for
Balancing entrepreneurship and childcare can be a daunting task, made worse by the pandemic. The rising costs of childcare in the UK and the USA are forcing an increasing number of primary caregivers – the majority of whom are women – to juggle both business and caring for their children. Thousands of childcare centers that closed temporarily because of lockdowns are still at risk of shutting permanently. These centers tend to be low-margin businesses with low levels of cash reserves and may not be able to reopen due to the additional expenses
Binance, the world’s largest cryptocurrency exchange, this week announced the news that it is linking up with the Canadian performer, The Weeknd, for his After Hours Til Dawn Tour to provide “an enhanced fan experience.” The so-called ‘experience will reportedly manifest in a number of ways, including via a collaboration with The Weeknd’s creative incubator HXOUSE to produce an exclusive NFT collection and co-branded branded merch. “Binance is all about the community, about people, about inclusion. I was impressed by their focus on users and innovative edge,” said The Weeknd. “It made perfect
Religion of Sports, the media production company founded by Gotham Chopra, Michael Strahan and Tom Brady, has raised $50 million in a Series B funding round led by Shamrock Capital and joined by Elysian Park Ventures and Cerro Capital. The Series B funding round brings the company’s total to $66 million raised over three rounds. Chopra told The Hollywood Reporter that the raise will be used to help “grow the company from the production company model, which is what we have operated in for a long time, to really controlling our own destiny. To really bet
“Focus On Being So Good They Can’t Ignore You”: The Black CEO Who Sold His Startup For Eight Figures
In an industry that lacks serious diversity, Timothy Armoo has beaten the odds. He’s launched a startup, raised investment, hired, scaled, and sold his business. He’s done what every aspiring business owner hopes to do – all at the age of 27. But much like many other founders, particularly those from marginalized groups, his journey has been far from smooth sailing. Armoo founded his social media advertising business, Fanbytes, in 2017, with Ambrose Cooke and Mitchell Fasanya, building it up to employ 65 people. What does it do? The London
Megan Thee Stallion has officially won her battle to trademark “Hot Girl Summer,” which had been used to promote clothing, music, and even food, without her approval. In a recent interview with Allure, the rapper explained that she didn’t know the phrase was “gonna catch on how it did,” and saw its value as corporations started to use the phrase on social media. “When I saw Wendy’s and Forever 21 saying, ‘Hey, are you having a Hot Girl Summer?’ I was like, ‘Hell no, Forever 21, you’re going to have to pay
Telecommunications company, Comcast RISE, has announced that it will award 100 businesses in the area with $1 million in grants. The grants will be available to small businesses that are owned and operated by women and people of color including Black, Indigenous, Hispanic, and Asian American owners. Atlanta makes up one of the five cities included in the Comcast RISE Investment Fund, which has allotted a total of $5 million to be distributed across 500 businesses. To date, the company has been able to provide $16 million to businesses owned by people of
Nicki Minaj is recognized for disrupting the male-dominated industry of rap music and is planning to do the same with sports betting. According to a press release, the award-winning musician and entrepreneur has been named an investor, advisor, and global ambassador for the sports betting platform MaximBet. As a significant shareholder in MaximBet, Minaj brings her style and ethos to illustrate the lifestyle of our brand and vastly broaden its audience. This includes trying to invite more women to participate in sports betting. A reported ‘lifelong’ sports fan, Minaj will work with
