Atlanta’s Black-founded and centered membership club, The Gathering Spot (TGS), and digital banking platform Greenwood are going their separate ways. The Events Leading Up To The Separation Last May, The Gathering Spot was acquired by Greenwood. Over the last year, however, there were reported disputes between the two companies, including reports of a lawsuit filed by TGS co-founders Ryan Wilson and T’Keel Petersen. They alleged that Greenwood co-founder and CEO Ryan Glover, and board member Dr Paul Judge had committed fraud and deception. In July of this year, Glover and Wilson announced they had resolved
Greenwood, the digital banking platform for Black and Latino individuals, has launched their new app, Greenwood Invest. Greenwood is a financial technology company used through a mobile platform inspired by the early 1900s Greenwood District, where the recirculation of Black wealth occurred all day. According to recent reports, Black households held just 4% of total household wealth in the US in 2020 despite making up over 13% of the population. Additionally, only 33% of Black households and 24% of Hispanic households owned stocks or exchange-traded funds (ETFs) compared to 61% of white households.
Greenwood’s Moton Hospital, which once served victims of the 1921 Tulsa Race Massacre, is being restored as a business resource and incubator hub for Black entrepreneurs. Moton Hospital Originally known as the Maurice Willows Hospital, the Moton Hospital was erected after the devastating 1921 Tulsa Race Massacre. The Tulsa Race Massacre was a two-day-long white supremacist terrorist massacre between May 31 and June 1, when mobs of white residents attacked Black residents and destroyed homes and businesses in the Greenwood District in Tulsa, Oklahoma. The North Tulsa hospital offered critical
Black Tech Street has announced an alliance with Microsoft to transform the Oklahoma neighborhood of Greenwood, also known as “Black Wall Street,” into a national hub of Black talent and innovation. Greenwood and Black Tech Street Greenwood is a historic freedom colony in Tulsa, Oklahoma, and had one of the most prominent concentrations of African American businesses in the United States during the early 20th century. It was popularly known as America’s “Black Wall Street” but was burned to the ground in the Tulsa race massacre in 1921 by a white
Following reported disputes and a lawsuit, Greenwood and The Gathering Spot have announced that they are resolving their outstanding issues as they continue to uplift Black and minority communities. What happened? Last May, The Gathering Spot, a private membership network focused on the Black community, was acquired by Greenwood, a digital banking platform. However, earlier this month, there were reported disputes between the two companies, including reports of a lawsuit filed by The Gathering Spot co-founders Ryan Wilson and T’Keel (TK) Petersen against Greenwood co-founder and CEO Ryan Glover and board