ESSENCE Ventures has announced its investment in Offscript Worldwide, the parent brand of REVOLT. ESSENCE Ventures will now have a minority stake in Revolt New Media Holdings LLC and will give Sundial founder and Chairman Richelieu Dennis a seat on the board. This deal brings together two of the largest Black-owned media portfolios in the US. Both companies have portfolios that include music, women’s lifestyle, beauty, creators, sports and gaming and live experiences. “This investment is about continuing the momentum both organizations have built and creating the scale to compete
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
Sundial Media Group (SMG), the parent company of Essence Ventures, has announced its decision to acquire Refinery29 from Vice Media. Refinery29, a prominent women’s lifestyle platform, has faced financial challenges in recent years but remains a key player with its distinct millennial women audience. This acquisition marks a major shift as SMG led by Richelieu Dennis, aims to broaden its reach and influence across the female-oriented digital landscape. Sundial Media Group Acquires Refinery29 Essence Ventures already has several prominent brands under its umbrella, including ESSENCE magazine, AFROPUNK, Girls United, and
