Group Black, originally founded to channel ad dollars into Black-owned media, is expanding its reach to a broader audience, Business Insider reports. The company has rebranded as Group Black Holdings and is now targeting what it calls “Gen Next,” a values-driven audience that cuts across race, age, and background. Bonin Bough, Group Black’s co-founder and chief strategy officer, maintains that Group Black is “evolving—not abandoning” its foundation. The company is expected to share more details on September 8. Portrait Media Group: A New Venture As part of its rebrand, Group Black announced
The temporary surge in funding for Black startup founders after George Floyd’s murder was driven largely by investors who had never previously backed a Black entrepreneur, and most showed only surface-level support, new research from Cornell University shows. Funding returned to prior levels within two years. Cornell researchers analyzed PitchBook data on venture funding from 2020 to 2023, using algorithms and manual review to classify the race of 150,000 founders and 30,000 investors. Surge in funding in the wake of Black Lives Matter The researchers found that at the height
H&M has ended its partnership with the non-profit Buy From A Black Woman (BFABW) and paid the $83,000 it owed the organization almost a month after it was due, as reported by ADWEEK. BFABW was founded by Nikki Porcher in 2016. It provides Black women with educational programs, an online guide to hundreds of female-owned Black businesses, and funding to help Black women business owners achieve success. In 2021, H&M partnered with BFABW, hosting special events, and participating in its business accelerator, and organizing activities and donations tailored to Black-owned businesses.
A recent analysis by Bloomberg News has revealed that people of color accounted for 94% of new hires at the US’ largest public companies in the year after the Black Lives Matter protests. The proportion of managerial and executive roles held by people of color increased by about two percentage points – more than double the average increases in previous years. However, white people remained overrepresented in the top, highly-paid positions. A major shift The US Equal Employment Opportunity Commission (EEOC) requires companies with 100 or more employees to report
