A damning report has found that inflation is hurting the wallets of everyday citizens as it hits a 30-year-high in the US and people of color and rural households are the most affected. Researchers from the Bank Of America have reported that those with less income and wealth are less likely to have savings to buffer the current “inflation shock,” and because of this, their spending power is greater. But lower-income families are also more “exposed” to the goods with the most inflation, researchers wrote in a report released last week. The
The recent events where Davido asked his loyal fans, friends, and colleagues for money – raising a whopping 200M Naira, which will be distributed to organizations helping vulnerable Nigerians, has shown the power of technology and how it can be used for good. On November 17 – the musician took to Instagram and Twitter and asked fans and friends who believe “I’ve given you a hit song” to send money to a bank account he detailed under his name. He asked them to send one million nairas each, and they
The popular app, known for its collaborations with the VERZUZ brand, has launched a funding program that will provide Black creators $2,000 in cash and $2,000 in company equity per month on the app. The contracts with the creators begin on January 1, and participants are required to sign a one-year contract with the app to qualify for the payments. The program is called the Triller Assembly for Black Creators. It aims to empower Black creators and talent to deepen the pipeline of Black-owned content across entertainment, lifestyle, fashion, and sports. “Triller and
Google is highlighting Black-owned businesses with the help of T-Pain and R&B songstress, Normani, as part of its campaign that introduces 55 small startups to potential buyers through a shoppable film. While watching the interactive Black-Owned Friday film, featuring the soundtrack of a new song by the pair, items that appear to be part of the décor are highlighted like a pop-up. Clicking one of these pop-ups, with up to five on the screen at the same time, pauses the movie, zooms in on the item, and gives buyers the opportunity to go
Serena Williams is convinced that Silicon Valley is making a mistake by not investing in startups founded by Black women, and that’s why she launched Serena Ventures. This venture capital firm invests in early-stage entrepreneurs. The mission is to support dreamers and visionaries of the future, allowing them to capitalize on their genius. Serena Ventures is making waves in the VC world by investing in mission-driven companies with over 50 portfolio companies with a $33 billion market cap and 60 percent diverse founder investments. Besides her VC firm – we
Utah-based customer communications innovator Weave was led into the public markets by a Black CEO. Pretty big deal right? The firm has gone from strength to strength after it achieved rare Unicorn status in 2019, an industry term used for privately backed startups that reach the $1 billion valuation mark. But CEO Roy Banks is no stranger to the top of the corporate pyramid – before his job at Weave he had already worked as the chief executive’s office for four other companies. Banks replaced Weave’s interim Co-Chief Executive Officers
Deciding on the right type of funding for your business can be difficult. In fact, it’s considered one of the hardest and most stressful things you could do as it can make or break your startup. Every funding option has advantages and disadvantages, and some are better suited to certain types of businesses and business models. It’s important to explore the funding options available before deciding how to build your company as the route you take will have some serious consequences. Here we break down what some of the keywords
There have been dozens of stories written this year about people that used lockdown as a way to better themselves or to learn a new and beneficial skill but I don’t think many have had the privilege of hearing Asia Sharif’s story. The proudly Black and Muslim woman is inspiring for many reasons – one being that she is a self-taught ‘Junior Software Engineer and Blockchain Developer’ that used the pandemic as an opportunity to change career paths and teach herself how to code. The second reason is that she
DrugStoc has raised $4.4 million in a Series A funding round led by Africa Healthcare Master Fund, Vested World, the German Development Bank and others. The investors will play a vital role in the sector’s continued growth. The firm plans to open more fulfillment centers and increase transit points and routes. It also hopes to provide more improved logistic alternatives for deliveries projected to be tardy. The founders plan to tap into more investment prospects in cold chain infrastructure with the hope of creating safer distribution for perishable items. To
The Black community has long played a profound role in shaping the world as we know it today and although they haven’t always been rewarded for it – they have been in this business for a long time. For example – did you know that more than 90 percent of the microphones used today, including those in phones and cameras, use technology co-invented by Dr. James E. West? Microphones Mr. West, a Black man who was also was appointed president-elect of the Acoustical Society of America in 1997, started his long
