Caroline Wanga is stepping down from her role as president and CEO of ESSENCE Ventures. Wanga joined the company in 2020 but took a one-year leave due to health reasons. On August 25, ESSENCE Ventures issued a press release stating that Wanga would be leaving the company indefinitely, according to Black Enterprise. “We are profoundly grateful to Caroline for her leadership, vision, and unwavering advocacy of Black women and culture,” Richelieu Dennis, founder and chairman of Sundial Technology & Media Group, parent company of ESSENCE Ventures, said. “Her expertise in culture, equity, and
ESSENCE Is Getting A New Streaming Channel Thanks To A Partnership With Kevin Hart’s Media Company
Hartbeat, the global entertainment company founded by Kevin Hart, and Sundial Media & Technology Group (SMTG), the parent company of ESSENCE, AFROPUNK, and Refinery29, have partnered to launch an ESSENCE-branded FAST (Free Ad-Supported Streaming Television) channel. This partnership comes at a crucial time, as Black viewership on Connected TV (CTV) and FAST platforms is experiencing significant growth; however, programs specifically targeted at Black women on major streaming platforms are limited. “We’re proud to introduce an ESSENCE-branded FAST channel that elevates the voices, experiences, and culture of our audience, offering access
Sundial Media & Technology Group, the parent company of ESSENCE, AFROPUNK, and Refinery29, has partnered with Creator Currency Networks to launch a new platform for women creators. CreateHer Network is the first creator platform dedicated to bridging the economic gap between women’s cultural influence and how much they’re paid. It has already secured partnerships with key industry players, including ESSENCE, Refinery29, BeautyCon, Curly Culture, and CurlyCon, according to a press release. CreateHer: A Platform For Economic Power Women drive 85% of US purchasing decisions and influence $31.8 trillion in global
Clarence O. Smith, one of the founders of Essence Magazine, passed away on Monday, April 21, at the age of 92. Smith spent over three decades at Essence Communications, serving as president and overseeing the company’s advertising and marketing. The New York Times reported that Smith resided in Yonkers, NY, and passed away in a hospital after a short illness, according to his niece Kimberly Fonville Boyd. When reflecting on Smith’s death, Susan L. Taylor, the magazine’s former Editor-in-Chief, told Essence, “He shifted hearts, minds—and investment choices—in the conventional advertising world. With the
It’s difficult for Black female founders to get their foot in the door, especially when it comes to raising capital for their business. However, billionaire businessman Mark Cuban told ESSENCE that Black women shouldn’t necessarily be looking for funding. Instead, he believes they should take a different approach, one that he has personally followed in his own journey. Why should founders stop looking for funding? The Shark Tank investor spoke with ESSENCE at SXSW in Austin, Texas, ahead of his panel discussion on entrepreneurship with Tabitha Brown and entrepreneur Justin Fenchel.
