Black-owned beauty-tech company Myavana is using AI to provide personalized insights and hair regimens that work for women of color. Myavana is the brainchild of computer scientist Candace Mitchell Harris. Her natural hair journey led her to seek data-driven, intelligent hair care solutions everywhere, from the lab to the Metaverse. The Science of Hair Data reveals that Black consumers drive the global hair-care market, spending nine times more on hair-care products than other racial groups. Black women, in particular, spend about $1.7 billion annually on hair-care products. While studying computer
The New York City Economic Development Corporation (NYCEDC) has announced the launch of the Venture Access Alliance. Comprising over 70 investors, the Alliance aims to build a more inclusive tech startup ecosystem in New York City. A more inclusive startup ecosystem New York City is the second largest tech ecosystem in the world. Over 30% of businesses in the city are minority-owned, and there has been a noticeable surge in Black-owned businesses. The Alliance is part of NYCEDC’s broader Venture Access NYC program, which aims to increase diversity in the city’s startup
Grammy-winning artist John Legend has co-founded his first-ever tech startup, It’s Good, to give users personalized food, travel, and experience recommendations. The company, co-founded by tech entrepreneur Mike Rosenthal, recently raised $5 million in a seed funding round led by Lightspeed Venture Partners. Legend previously co-founded Cravings – a food e-commerce site – with his wife, Chrissy Teigen. The “It’s Good” App It’s Good is an invite-only platform that delivers travel, food, and experience recommendations from people you know and critics, celebrities, and influencers. Launched in March with a select
This Hispanic Heritage Month, POCIT spoke with Marcos Navas, the CEO of Latinos in Coding, about his work to empower Latinx communities in tech and make coding more accessible. By 2045, the minorities of the US will make up the majority of the workforce, with the Latinx community playing a pivotal role in this shift. Despite making up 17% of the workforce, Latinx people currently account for only 8% of workers in STEM. Coding is the language of the modern world, Navas argues, with the COVID-19 pandemic shedding light on
Atlassian has agreed to acquire video communication platform Loom for $975 million. The acquisition will ramp up Loom’s asynchronous video collaboration tools to tap into the demand fueled by the adoption of hybrid work. The journey to unicorn status Loom is an asynchronous (async) video messaging tool that helps users communicate through instantly shareable videos. Founded by Vinay Hiremath, Shahid Khan, and Joe Thomas in 2015 in San Francisco, CA, it boasts 25 million users in 1.8 million workplaces. The platform became increasingly popular during the pandemic, with a $1.53
Research from Extend Ventures revealed that only 0.24% of funding went to Black founders in the UK in the last decade. Additionally, a report conducted by Cornerstone VC also found that only 1% of founders who receive seed funding identify as Black and only 3% of VC-funded founders identify as Black. To celebrate and amplify Black founders in UK tech this Black History Month, we have compiled a list of resources and funds available. Black Seed Black Seed is a community-led by Black founders, for Black founders, based in Brixton,
Industry Link is a unique self-funded initiative to unite New York’s young Black professionals working across tech, media, entertainment, and aligned industries. Created by young Black professionals for young Black professionals, the platform offers a series of free private mixers in New York City. The events are dedicated to breaking down the cliques, kicking back, showing off your latest fits, and catching up with old and new friends across industries at different venues around the city. “This is the place to find the next person who’s gonna put you on, and
According to The Information, Meta is paying creators such as Snoop Dogg millions for AI chatbots, with the top creator making as much as $5 million over two years for six hours of work in a studio. During Meta’s Connect event in September, Mark Zuckerberg announced that Meta will be integrating new AI assistants across its social media platforms that can have human-like conversations. While the company has its own AI chatbot similar to ChatGPT, it has now introduced 28 new ones with different personalities that use celebrities’ images. These
Online resource business Hello Alice is the latest company to be named in a lawsuit for allegedly discriminating against business owners based on race. A class action lawsuit alleges the company’s partnership with Progressive Insurance Company, which offered $25,000 grants to 10 Black-owned small businesses, violates civil rights. Hello Alice and Progressive Partnership Hello Alice, founded by Carolyn Rodz and Elizabeth Gore in 2017, is a digital platform helping small businesses launch and grow through access to capital. They partner with corporations looking to reach and support new entrepreneurs through
The California Senate Bill 54 (SB 54) has been signed into law by Governor Gavin Newsom, requiring venture capital firms in the state to report the diversity of the founders they back annually. This is the first piece of legislation in the US that aims to address racial disparities in the venture capital (VC) landscape. There is currently no official data on how VC firms invest their money founder and tech activist who helped ideate and draft SB 54, Allison Byers said. She added that California is responsible for 36%
