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Fanbase, a social media platform used to monetize content creation, has reached $10 million through equity crowdfunding, setting the stage for a $17 million campaign.  Fanbase’s Crowdfunding campaigns The funding has reportedly marked founder Isaac Hayes III as the first Black man to accomplish this feat in a Regulation Crowdfunding campaign via StartEngine. Hayes created Fanbase to enable Black creators to cultivate their audiences and monetize their contributions effectively. According to a press release, Fanbase had raised over $10 million from three crowdfunding campaigns and 14,000 over investors via StartEngine. The company recently

Marcy Venture Partners (MVP), co-founded by “Jay-Z” Carter, is reportedly nearing a significant merger with Pendulum Holdings’ investment arm Merger Talks According to Bloomberg, the merger could create a new entity with over $1 billion in assets under management. Sources close to the discussions, who preferred to remain anonymous, have indicated that the merger between these two California-based powerhouses is almost finalized. Both entities have declined to comment on these speculations.  Culture-driven investments Marcy Venture Partners, established in 2018 by Jay-Z alongside Jay Brown and Larry Marcus, has demonstrated an eye for culture-driven investments.  Its

Audible has recently welcomed four new minority-owned businesses into its Newark, NJ-based Business Attraction Program.  The initiative, launched in August 2023, aims to bolster the local economy by supporting startups through financial backing and expert mentorship.  Empowering Diverse Founders The focus on minority-owned companies, especially those led by Black women, comes at an important time.  Nationally, Black-owned businesses receive one percent of venture funding.  Audible’s program seeks to change this disparity by offering each company up to substantial non-dilutive grants of $250,000.  These funds are allocated for office space, relocation, and local

British legal tech company Definely has raised a $7 million (£5.6 million) Series A investment round to advance its GenAI proposition that helps draft, edit, and understand legal documents. Last year, the Microsoft- and Google-backed company released Vault. This tool leverages AI and OCR technology to analyze and extract key information and clauses from an organization’s internal contract repository. Vault then makes this information readily available to users directly within their documents, exactly when and where it’s needed. One Of The 50 Fastest-Growing Tech Companies In The UK Founded by two former

Reddit Co-Founder Alexis Ohanian took to X, formerly Twitter, to thank Snoop Dogg for being one of the platform’s earliest investors during its spin-out and turnaround. Reddit Reddit, a social media platform and online community, ranks among the top 20 most visited sites worldwide and went public in March 2024. American internet entrepreneur and investor Ohanian is best known as the platform’s former executive chairman and co-founder, along with Steff Huffman and Aaron Swartz. He is also the husband of tennis legend and venture capitalist Serena Williams. Huffman and Ohanian began building Reddit for fun while roomates

Pinky Cole Hayes, renowned for her ventures Slutty Vegan and Bar Vegan, has gifted the 2024 graduating class of Savannah State University a $8.75 million “Entrepreneurial Starter Pack.”  The initiative is designed to equip graduates with the essential tools and resources for their entrepreneurial journeys. The gift, which is a collaboration with Operation HOPE and One Million Black Businesses (1MBB), includes a range of resources to nurture and scale Black-owned businesses. During her speech to the graduates, Cole Hayes, a 2023 TIME 100 Next honoree, outlined the components of the entrepreneurial package.  Comprehensive Support For Aspiring Business

50 Cent has launched a new G-Unit Studios in Shreveport, Louisiana. At 956,000 square feet, G-Unit Studios is the second largest Black-owned production studio behind Tyler Perry Studios.  G-Unit Studios Lands IN Shreveport 50’s company, G-Unit Film & Television Inc., launched in 2005, currently houses his most successful television projects, such as STARZ TV series Power, which includes Raising Kanan, Force, Ghost and the series BMF. “I’m excited to announce the expansion of G-Unit Film & Television through the launch of my G-Unit Studios right here in Shreveport #allroadsleadtoshreveport,” 50 wrote on

Operation HOPE, a national nonprofit focused on entrepreneurship and financial literacy, has renewed its Strategic Alliance Memorandum (SAM) with the US Small Business Administration (SBA).  The collaboration aims to uplift small businesses nationwide, with an emphasis on minority-owned enterprises. Expanding Access to Essential Resources During a recent visit to Operation HOPE’s headquarters, SBA Administrator Isabel Casillas Guzman and other officials met with the leadership of Operation HOPE.  They discussed strategies to extend resources to entrepreneurs, particularly those in underserved communities.  Under the renewed agreement, both organizations will enhance access to

Nigeria’s Chowdeck, an on-demand delivery platform, has raised $2.5 million in seed funding to fuel its growth. Chowdeck With households in Nigeria spending nearly 60% of their income on food and the rise of online shopping, Chowdeck aims to make its mark in the space. The platform was founded by Femi Aluko, Olumide Ojo, and Landre Yusuf to offer consumers the option of ordering food and delivering it within an average of 30 minutes. “Ordering food in Nigeria would usually take one or two hours,” Aluko said as he described how his trip to Dubai was one

Venita Cooper and Vincent Sanders have created an AI-powered sneaker resale price-prediction startup – Arbit. According to their website, Arbit is the only price prediction model designed to empower sneaker buyers to get fair prices in the resell market. They collect real-time prices from trusted sites, providing pricing insights and trend analysis that allows users to shop prices on one app. Arbit’s Journey Cooper’s passion for sneaker culture began in 2019 when she opened Silhouette Sneakers and Art in Tulsa, which attracted attention from Brian Brackeen in 2021. After more than four years in the business, Cooper announced

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