Nearly 60% of Black small- and mid-sized business (SMB) owners on TikTok say that the app is critical to their business’ existence, a new Oxford Economics report has found. TikTok’s Value For Small businesses Oxford Economics, in collaboration with TikTok, sought to understand the app’s economic value for local communities across the US. It surveyed 1,050 SMBs and 7,500 users in 2023 to gauge interactions and benefits derived from the app. Small and medium businesses generated $14.7 billion in revenues and supported 224,000 jobs on TikTok supported 224,000 jobs, the
Nourish + Bloom, the first Black-owned autonomous grocery store in the US, is reshaping how communities access fresh food after Shark Tank investors declined them. Founded by Jilea and Jamie Hemmings in 2022, Nourish + Bloom aims to reduce the nation’s food deserts, making eating healthy and convenient. Nourish + Bloom Nourish + Bloom is reportedly the first 100% AI-powered supermarket to be open for business 24/7. The store currently offers a range of essentials, from produce to toiletries, and a deli for prepared foods. However, unlike traditional stores, Nourish + Bloom operates
HERide, a rideshare platform focused on women’s safety, has become the first Black-owned company to secure a contract with Hartsfield-Jackson Atlanta International Airport. Co-founded in 2019 by Jillian Anderson and DeVynne Starks, HERide conducts thorough background checks on drivers and integrates in-ride security features to ensure passenger safety. Focused on women’s safety Anderson’s experience as a rideshare driver highlighted many women’s discomfort using traditional services like Uber and Lyft, especially at night. “There were a lot of women that were hesitant with riding with men at night using Uber and Lyft,” Anderson told AFROTECH. “I
The Source, a new Black-owned tech center in downtown Miami, opened its doors last month. The Source Tech Hub Spearheaded by Miami Gardens native Ted Lucas and his business partner Hilmon Sorey, this new center represents a significant shift in the city’s tech landscape. Lucas, the founder of Slip-N-Slide Records, and Sorey, a seasoned venture capitalist with notable investments in companies like Uber and Lyft, envision The Source as a beacon of hope and opportunity. “If you look like me, I want to see how you are going to help my community,” Lucas told
Conducive Capital, a newly formed South African venture capital firm, has launched a $50 million fund for early- and growth-stage tech startups across Africa. Meet The Team The fund is headed by Clive Butkow and Mitchan Adams. Butkow is the founder and former CEO of Kalon Venture Partner and former COO of Accenture South Africa. Alongside Adams, the co-founder of Ozow and current CEO of Aions, the two have collectively invested over R300 million, with an internal rate of return of more than 30% over the past seven years. Their combined expertise is set to invigorate the African
Black-owned businesses can help close the racial wealth gap in the United States, a report has found. The “Gather Against the Gap” report marked a significant step towards addressing the racial wealth gap that critically impacts Black Americans. The Racial Wealth Gap The data found a $10 trillion racial wealth gap in the United States. The gap was illustrated by the median wealth of Black households at $20,000, in contrast to $180,000 for white households. This wealth disparity, coupled with an employment and income gap, significantly hinders the economic progress
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.
Black-owned Diabetes Digital has launched its innovative virtual nutrition counseling service, expanding access to 23 states. Meet The Founders Jessica Jones and Wendy Lopez founded Diabetes Digital as an online platform for virtual nutrition counseling dedicated to diabetes and prediabetes. CEO Jones and COO Lopez are nationally recognized Registered Dietitian Nutritionists and Certified Diabetes Care and Education Specialists. The pair also co-founded Food Heaven – an online platform and podcast offering resources on cooking, intuitive eating, and body respect. The Diabetes Digital team comprises Registered Dietitians and Certified Diabetes Educators, bringing extensive expertise to users. “Diabetes Digital
UK-based Black-owned platform Sojo has become the first fashion repairs and alterations platform to achieve B Corp certification. Certified B Corps are companies verified by B Lab to meet high standards of social and environmental performance, transparency, and accountability. The B Corp Community is a global movement of businesses that provide leadership by demonstrating their commitment to people and the planet. There are over 7,800 B Corps worldwide, across 161 industries in 92 countries, with over 708,300 workers. Sojo achieved 86.8 points, above the B Corp pass mark of 80 and
The risk of maternal death from 2019 to 2021 was statistically significantly almost four times higher among Black women and women of color compared with white women. Black women are generally at a greater risk of maternal mortality compared to white women, with many reporting negative experiences before, during, and after pregnancy. We have compiled a list of Black and woman of color-owned apps or platforms that benefit these women during and after pregnancy. Villie – Kimberly Jolasun Villie is on a mission to support expecting and new moms through
