LOréal USA has announced the sale of Carol’s Daughter to its founder and new President Lisa Price and finance veteran Joe Wong, initially only referred to by L’Oréal as an unnamed independent beauty entrepreneuer. Wong has several former L’Oréal brands under his belt, including Ambi Skincare, AcneFree, Baxter of California, and Dermablend. L’Oréal USA selling Carol’s Daughter This new move highlights L’Oréal’s belief in Price’s leadership and the new partner’s ability to honor the brand’s heritage, values, and commitment to its loyal customers. “At the heart of this legacy is
Zeal Capital Partners has announced that Stefanie Thomas-Martin has been promoted to Partner. Since joining the company in 2023, Thomas-Martin has led the Barclays Black Formation Investment (BBFI) vehicle, a $50 million pre-seed investment platform that supports Zeal Capital’s Inclusive Investing™ strategy. She also pioneered the firm’s inaugural scout program. On the Zeal Capital website, Thomas-Martin says she joined the team to “continue backing exceptional teams with a mission orientation towards delivering value for underserved communities.” Stefanie Thomas-Martin makes partner “Stefanie has consistently demonstrated a commitment to our mission and
Stacy Brown-Philpot, TaskRabbit’s former chief executive officer, secured $172 million for her new venture fund, Cherryrock Capital. The fund focuses on investing at the Series A and B stages in companies led by underinvested entrepreneurs. Cherryrock Capital’s investors included JPMorgan Chase & Co. and Goldman Sachs Group Inc, as well as Massachusetts Mutual Life Insurance Co., LinkedIn co-founder Reid Hoffman, Ariel Investments’ Mellody Hobson, and former Meta Platforms Inc. chief operating officer Sheryl Sandberg, according to Bloomberg. The fund’s launch comes at a time when several companies are scaling back their
The NAACP has announced the launch of the Black Consumer Advisory to help Black consumers stay informed on which companies promote diversity. As more companies continue to scale back their DEI programs, Black consumers should spend their money where they are valued. However, they can only do this if they know which companies value diversity and inclusion. This is why the NAACP is creating the Black Consumer Advisory, to remind Black consumers that their money is valuable. “The NAACP stands firm in our belief that, in a global economy, those
DEI Under Fire is our monthly series that keeps you up-to-date on the latest DEI announcements and changes from the nation’s leading companies. The landscape of DEI has changed significantly over the past couple of months in the US. Some companies have succumbed to political pressure to roll back their DEI initiatives, while others stand firm in their diversity and inclusion stances. With so many changes to DEI in a short matter of time, it isn’t easy to keep up with where companies stand with DEI. This is why POCIT
TikTok has announced 2025 SOAR Together, a Black-owned business accelerator program in collaboration with Black Girl Ventures. The program aims to help Black businesses grow on TikTok Shop. What is the 2025 SOAR Together program? The 2025 Soar Together program is a six-week program in which 20 businesses will be chosen to receive educational courses, business coaching, and mentorship from guest speakers. After the program has finished, those businesses will attend a special in-person graduation ceremony. TikTok’s partnership with Black Girl Ventures builds on its $1 million investment in the
The fourth annual Fifteen Percent Pledge gala has raised $3 million for Black-owned businesses amid a growing trend of companies scaling back their DEI efforts. On Saturday, 1st February, the Los Angeles-based event was filled with A-list celebrities like Ciara, Kim Kardashian, Kelly Rowland, Teyana Taylor, Jesse Williams, and Keke Palmer. All proceeds from the activation ticket sales go to businesses affected by the recent LA wildfires. “We are nobody’s DEI hire,” said the founder, Aurora James, according to WWD. “This country, in its best form, is a product of
Silicon Valley venture capital firm Andreessen Horowitz (a16z) has hired Daniel Penny, the former Marine who made national headlines following the killing of Jordan Neely, a 30-year-old homeless Black man, on a New York subway. The news was first reported by The Free Press. Penny was acquitted of criminally negligent homicide in December 2024. Although he has no prior investment experience, Andreessen Horowitz plans to train him for his new role. Jordan Neely’s Death Jordan Neely was known for being a Michael Jackson impersonator who performed in Times Square. During
It’s February, which means it’s finally Black History Month. It’s a time when Black people reflect on the triumphs, victories, and achievements Black people have made in the country. While it’s essential to look back at what Black people have overcome, it’s also important to acknowledge the history Black people are making today. Black innovators are shaping the future in every industry, and the tech world is no exception. Here, we spotlight eight Black-owned tech startups that are driving change, creating opportunities, and making a real impact in Black communities.
Legendary hip-hop MC RAKIM is entering fintech with his new platform, Notes. The artist created a platform with the hope of helping artists capitalize on their creative projects and gain financial independence. Recognized by many as one of the greatest MCs of all time, RAKIM rose to fame as one-half of the rap duo Eric B. and Rakim. Now, he has launched an AI-powered platform as a one-stop shop for music, money, and knowledge for artists and creators. “Independent urban music artists and creators often struggle to gain financial stability
