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
The Black Founders Matter Fund is eyeing a second fund after fully deploying capital from its first. Launched in 2019, the early-stage fund invests in Black and other underrepresented founders building solutions in sectors such as health, wealth, and economic mobility. Managing Director Himalaya Rao-Potlapally says the experience has offered critical insights, not just for the fund’s strategy, but for how the venture ecosystem can better serve founders long term. Investing in Black startups Black Founders Matter began to gain traction in 2020, coinciding with the resurgence of the Black
DEI is the buzzword in America as more companies continue to scale back on their DEI policies. Big retailers and companies started announcing their removal of DEI last year. However, Trump’s revoking a six-decade-old executive order that prohibited workplace discrimination by federal contractors has further impacted companies’ stances on DEI. But how much impact have these initiatives had on diversity in the workplace? According to a Wall Street Journal analysis, not that much. The Wall Street Journal examined 13 million workers at S&P 500 companies and found that DEI efforts haven’t significantly
After making pledges following the murder of George Floyd in 2020, companies such as Google have cut back on Diversity, Equity, and Inclusion (DEI) initiatives and hiring. Following Floyd’s murder in 2020, companies set pledges to prioritize DEI. Between June and August 2020, there was a 55% increase in corporate DEI roles, and leading corporations pledged $12.3 billion to fight racism. Google, in particular, aimed to improve the representation of underrepresented groups in leadership by 30% by 2025 and address representation issues in hiring, retention, and promotions. Over the last year, however,
