Uncle Nearest, the top-selling Black-owned spirits brand globally, is close to reaching unicorn status with a valuation nearing $900 million. Uncle Nearest Premium Whiskey Black and woman-owned distillery Uncle Nearest Premium Whiskey was launched in 2016 by Fawn Weaver and has quickly ascended to global recognition. Uncle Nearest’s rise is a tribute to Nearest Green, the first-known African American master distiller, and to the resilience and vision of its founder. Fawn Weaver navigated the brand through an industry where only 0.48% of all venture dollars went to Black founders last year.
Actress, author, and entrepreneur Malinda Williams has launched the ESTEAM Project for women at Historically Black Colleges and Universities (HBCUs). The coding bootcamp emerges from her Arise And Shine Foundation Inc., a 501(c)(3) organization dedicated to empowering women from diverse backgrounds. “As a professional actress and someone who has experienced first-hand the support of my community, I understand the value of collaboration and paying it forward,” said Williams in a press release. “The Arise and Shine Foundation exists to empower women to reach their goals, and coding is a powerful
Media mogul Tyler Perry has announced the first series under his new multi-year first-look series deal with Netflix. The new arrangement with Netflix extends his exclusive film deal with Netflix in October 2023. Meet Tyler Perry Perry, who was named on Forbes’ list of “World’s 10 Highest-Paid Entertainers” for the second year running in 2023, is an American actor, filmmaker, and playwright. In October, Perry secured a first-look deal with Netflix for feature films, following his deal with Amazon Studios to write four features for Prime Video. To date, Perry’s
Twitch streamer Kai Cenat has announced his partnership with Nike, becoming the first streamer to forge such a connection with the global sportswear brand. Meet Kai Cenat Cenat is a 22-year-old American content creator who streams on Twitch and posts videos to YouTube. He shared his first video on his main YouTube channel in 2018, and the channel now has nearly 5 million followers. Since then, he has grown his audience across two different YouTube accounts and his Twitch channel, now with 9 million followers. Cenat has also won Streamer
Neon Money Club has launched a new dating app, Score, for people with a credit score of 675 or above. Luke Bailey and Jackie Liao co-founded Neon Money Club as an invite-only money club that aims to empower users financially while bypassing hurdles they often face. Members get access to invest in the US stock market, hyper-relevant financial content, and their recent launch of a Cream Card, making Neon Money Club the first Black-owned business to establish an American Express Card. The Score Dating App Neon Money Club has become the first financial brand
Amazon-owned Ring will stop allowing police departments to request user doorbell camera footage without a warrant or subpoena following concerns over privacy and racial profiling. Ring’s police partnerships The Ring Doorbell Cam is a wire-free video doorbell that can be installed into people’s front doors and homes. Amazon acquired Ring in 2015 for a reported $1 billion. In 2019, Amazon Ring partnered with police departments nationwide through their Neighbors app. Police could access Ring’s Law Enforcement Neighborhood Portal, which allowed them to view a map of the cameras’ locations and directly
Paul Judge And Marcelo Claure Are Raising $200M For Their Open Opportunity Fund For Diverse Startups
After buying SoftBank’s Open Opportunity Fund, Paul Judge and Marcelo Claure have announced plans to raise a $200 million fund. SoftBank Group is a Japanese multinational investment holding company focusing on investment management. Judge and Claure recently acquired the firm’s $100 million Open Opportunity Fund 1, $150 million Fund 2, and the entire portfolio. They initially planned to increase Fund 2 to $200 million, which they are now doing. A New $200M Fund The two are now raising the second Open Opportunity Fund, as they want to replicate the same winning recipe with an eye toward
Two computer science majors, Leslie Jones-Dove and Devshi Mehrotra from the University of Chicago, have raised $3 million for their AI platform, JusticeText. Making the criminal justice system fairer Jones-Dove and Mehrotra developed their idea during a class project that they both worked on during their university years. Following protests after the shooting of 17-year-old Laquan McDonald, the duo decided to interlink their interest in technology and the criminal justice system. “Across the country, there are a number of public defender’s offices where they’re underpaid and overworked,” James-Dove told AfroTech. “It means that they have a
Byron Allen, the owner of Allen Media Group (AMG), has announced he plans to appeal a judge’s dismissal of his lawsuit against McDonald’s. The Lawsuits Allen first filed a $10 billion federal lawsuit against McDonald’s in 2021, alleging its advertising practices perpetuate racial stereotyping and violate civil rights laws at the federal and state levels. Allen then sued McDonald’s again in 2023, claiming the corporation had lied about its commitment to Black-owned media. In May 2023, Allen’s Entertainment Studios Networks Inc. and Weather Group LLC filed a lawsuit against McDonald’s seeking damages
Billionaires Mark Cuban and Michael Rubin agreed to invest $300,000 in Black-owned AI startup Bot-It, on a recent episode of ABC’s Shark Tank. Founded by Maurice Bachelor and Joel Griffith, Bot-It lets users automate online tasks like booking appointments, making restaurant reservations, and even securing concert tickets. Bot-It Bot-It is a new service that introduces web automation to everyday people without requiring any coding or technical skills to set up. Bachelor conceived the idea after seeing a friend struggle with completing an online task, and after searching the internet for
