Update: Meet Five Black-Led Startups That Have Achieved Unicorn Status The term unicorn in the tech space is synonymous with hugely successful tech companies (think Uber, Airbnb, Stripe, Pinterest, & DropBox). Its a term given to a private company with a $1 billion valuation. Although still very much a rarity, the number of unicorn startups is higher than ever. According to recent stats, there are 506 tech unicorns globally. So how does a company founded by a POC reach unicorn status? There is no definitive recipe for success. When less than
Damilola Olokesusi is the Co-founder and CEO of Shuttlers, a tech transport startup. In 2015, Olokesusi and her friends — Damilola Quadry and Busola Majekodunmi — were frustrated by the stress of commuting in Lagos, Nigeria. And following some nasty experiences, they decided to start Shuttlers. “One of my sisters got into a one-chance bus (a commercial bus used for robbing passengers), and it was a traumatic experience for me. She was taken to another destination where they were abducted and robbed. Having had our different bus experiences, we realised it was a collective pain point for us.
What You Will Learn in This Post I will share hard numbers, actual decisions, and strategic reasoning with you so you can learn from what my cofounders and I did and see that it is OK to take risks where you don’t know for sure if something is going to work out. I will not discuss the unique operating decisions or industry dynamics because they are not important to embrace the spirit of our experience so that you may be encouraged to go boldly to build your vision. You will
As a Black man in venture capital, the last few months have been eye-opening. The national conversations about social justice led to an increased awareness of the challenges faced by underrepresented founders and funders in our industry. People and organizations have since stepped up to create pathways to invest in more founders from underrepresented backgrounds. And I couldn’t be happier to see this happen. But I’ve noticed something else taking place on the sidelines. Many onlookers view investing with a representation lens as a constraint, rather than a thoughtful investment
In the last few decades, business activities around the globe have become increasingly mobile, and thankfully, Africa isn’t left out. The continent has become an eager adopter and innovator in virtually all things digital and mobile. The more than 122 million active users of mobile financial services across Africa lends credence to this claim. However, when choosing locations, innovators have to be deliberate as they need to consider who will use their products. Expert opinion has it that being intentional about where to locate a business strongly impacts growth prospects and profitability.
Systemic racism has created a world where I and many other Black people literally have to work twice as hard to get half as much. Since I’ve been able to work, I’ve worked multiple jobs. During summers growing up, I worked in the businesses started by my grandparents in Mobile, AL, and passed down to my father and his siblings. You could find me doing everything from working the register at their BP gas station to preparing sandwiches in my father’s Subway. When I went to college, despite having a full-ride academic
Five weeks ago I joined Brandwatch as their first-ever VP of Global Community and Belonging. The night before my first day I had the first-day jitters and tossed and turned in bed. The following thoughts ran circles around my mind, “What if my performance doesn’t live up to the expectations set in the recruitment process? What if important stakeholders are directly opposed to my views and approach?” And of course that age-old anxiety inducer: “What if I got it all wrong in the interviews and I just don’t vibe with
Subscribe to the Techish Podcast on Apple Podcasts, Spotify, And Other Platforms. In this episode of this Techish, Abadesi and Michael discuss the hiring of Bozoma St John by Netflix. Why it matters, and how it represents a recognization of the truth about the value of Black American culture in driving global culture. They also break down: Kanye for President [00:26] Tech vs Tech Media [11:00] Bozoma St John new Netflix CMO / Black-owned banks [06:47] Does any level of success make you happy? Extras: Techish on Patreon: Advertise with Techish: Please rate and review the Techish podcast
As I sit here today writing this piece, the country burns as thousands of Black Americans (and our allies) are expressing their pain and mourning the loss of countless citizens — most recently George Floyd, Ahmaud Arbery, and Breonna Taylor. While citizens of all backgrounds are marching in almost every major city, I can’t help but be reminded that 99 years ago today, the Tulsa race massacre (also known as the Black Wall Street massacre) began. By its end, nearly 300 Americans were killed as white residents attacked black residents and
“Diversity increases revenue, improves productivity, sparks creativity, and boosts innovation.” In my line of work, the business case for diversity is practically a mantra. As Diversity & Inclusion has gained mainstream acceptance, so too has this “business case” emerged as the centerpiece of many modern organizations’ D&I efforts. It figures prominently in keynote talks, diversity panels, and internal presentations alike. And when corporate leaders talk about D&I, the business case for diversity is always one of their talking points. This is, unfortunately, a big problem. Under its flashy exterior, “business
