It’s time for all journalists to get into their bag. Black-owned digital media and tech company, Hero Media, has launched Goodfeed, a social wellness platform for women from diverse backgrounds. On Goodfeed, in-house journalists get paid royalties for their work using money generated from ad rolls. The online platform – which has built a community for Black and brown women – has been described as another version of YouTube where users can share their editorial content, written articles, audio, and videos. Through Goodfeed, Black women can connect and share fitness,
Black Business Ventures Association (BBVA) has unveiled its inaugural Founding 50 list to spotlight top-performing Black founders in the tech industry to celebrate Black History Month. The list aims to highlight Black leaders, innovators, and trailblazers who have defied all odds by successfully launching technology initiatives. “At BBVA, every day is Black History Month. We invite you to join us in honoring the contributions of Black tech founders with the launch of the Founding 50 list,” said BBVA in a statement. “This ranked list recognizes the top Black founders who have significantly impacted their
Black people are strong but even more powerful when they come together. This is a statement Nia-Tayler Clark, founder of BLACKLIT, can heavily relate to. After receiving an unexpected eviction notice, social media users united to help Nia-Tayler Clark save her bookstore from closure. The online book community founded in 2019 initially began as a project in Clark’s tiny one-bedroom apartment. In a short time, the project blossomed and became the first Black-owned bookstore in Dallas, Texas. “BLACKLIT started in 2019, in my tiny one-bedroom apartment, with my toddler on my
Female and Latinx-founded fintech company, Mendoza Ventures, has taken a massive step in its move to invest in underrepresented startups. Bank of America’s Investment Mendoza recently achieved a first close on its third $100M fund to further their work to support startups founded by diverse founders. The fund, led by Bank of America (BofA), included Grasshopper Bank alongside multiple other investors. The anchor funding comes from BofA’s commitment to making capital much more accessible to founders often overlooked by investors. “Mendoza Ventures is at the forefront of supporting innovation and
The Plug and Omidyar Network have partnered to introduce The Black Tech Effect Report, the first of its kind to measure the social impact of high-growth, Black-led tech companies worldwide. What is The Black Tech Effect Report? Traditional analysis platforms have overlooked black tech founders for decades. As a result, the off-the-mark analysis has created a false narrative around the progression of Black-led tech companies. To redefine how we view Black success, The Plug and Omidyar Network have created a report that measures social impact instead of the ‘number of
The idea of running a business is exciting, but there is no denying that being a startup founder can be an overwhelming experience. From managing finances to staying on top of social media trends, many business owners wear multiple hats to keep their business functioning. According to The Plug’s analysis of Census Bureau data, approximately 10% of businesses that employed less than 20 people were forced to close in 2020. Likewise, statistics have shown that 45% of entrepreneurs have reported feeling stressed, which has led to mental health issues such as anxiety or depression.
Black Professionals in Tech Network (BPTN) has officially opened nominations for its tech industry awards ceremony. Financial services provider BMO will host this year’s event to celebrate the influential and innovative work of Black professionals in the industry. Despite this initiative being the first of its kind, this isn’t the first time BPTN has opened doors for Black professionals. Earlier this year, founder, Lekan Olawoye announced the launch of the Obsidi platform, a conduit to opportunities for black professionals. “We know that Black professionals and Black-led organizations are crushing it both in
Governor Kathy Hochul has announced a $30 million pre-seed and seed matching fund program to help early-stage startup companies. The funding for the program will come from the State Small Business Credit Initiative to provide extra support to small businesses owned by historically marginalized individuals, including Black and brown entrepreneurs and traditionally disadvantaged individuals. The initiative, part of New York’s $500 million federal investment, aims to help small businesses recover from the pandemic and rebuild local economies. As a part of the program, Governor Hochul will offer early-stage startup companies
New data has revealed that there has been an uptick in the amount of capital funding Black founders in the U.S. raised in Q4 of 2022. Although this shows that the tide may finally be turning, founders have yet to receive adequate funding to scale their businesses successfully. According to Crunchbase, Black startup founders raised around $264 million out of the $33.6 billion allocated in Q4 of 2022. This may seem small, but a slight increase from the $178 million raised from July to September 2022. What did last year
Black-owned AI entertainment company tap. is on a mission to change the entertainment business for good. The pre-seed funding round The funding round aims to enhance tap.’s products by introducing more efficient ways for people to come together and connect. In collaboration with productions such as Marvel DC, HBO, and Disney, tap.’s primary goal is to deploy the right machine-learning technology to enhance users’ experiences. “We are excited to grow out network of support around the tap. app through the latest funding round, which will enable us to execute our strategic company
