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Angel Reese is in high demand. The WNBA player, who is signed to Reebok under a multi-year endorsement deal as of October 2023, shares that she had the option to sign with other shoe brands such as Nike, a familiar pattern among various greats, including Michael Jordan, LeBron James, Serena Williams, and Kevin Durant. “I wanted be a priority ’cause I could have signed easily with Nike,” Reese says in a resurfaced video shared on X, formerly Twitter. “I could assign easily with Jordan. But like everybody doing that. I don’t like doing what everybody do. I like to do the complete opposite. I’m bringing Reebok back.” View this post on Instagram A post shared by Reebok (@reebok) As AFROTECH™ previously reported, Reese’s signing with Reebok was the company’s first major Name, Image, and Likeness (NIL) deal. In her post, Reese shares that it will open doors for her own signature shoe to be released in the near future. She also credits her relationship with Shaquille O’Neal, who serves as...
May 8, 2024
Equinox has reportedly launched the world’s most expensive gym membership. According to NBC News, the exclusive fitness chain has kickstarted a $40,000 annual program geared toward helping people improve their overall health and longevity. In partnership with lab-test startup Function Health, Optimize by Equinox, is a personalized health program curated by the company to equip participants with a variety of services, including personal training, nutrition plans, sleep coaching, and massage therapy. “It’s really a paradigm shift in how we’re able to live with vitality and avoid suffering,” Jonathan Swerdlin, co-founder of Function Health, said. “It deals with what’s above the surface, your abs and glutes, which you can see in the mirror, that are great. But it also deals with what’s below the surface and what you can’t see in the mirror. And that’s revolutionary.” View this post on Instagram A post shared by Equinox (@equinox) Kicking off with a range of tests, t he program is...
May 6, 2024
While working in the music industry, many artists make the smart move and don’t limit themselves to only excelling in music. Will.i.am is among such musicians who are the definition of “multi-hyphenate.” As an entertainer, record producer, tech entrepreneur, and founder, the East Los Angeles, CA, native has built an extensive resume for himself. “Investor” is yet another title under his growing list of endeavors. In an interview with the “Drink Champs” podcast, Will.i.am recounted two specific investments he’s made thus far. When asked by host N.O.R.E. whether he’d choose Steve Jobs or Elon Musk — like in a game of “This or That” — Will.i.am was prompted to share how both CEOs have made an impact on his life. “I invested in Tesla in 2006 before Elon took over [the company] — around the same time,” Will.i.am explained on the podcast. He continued, “And then, I was a part of Beats. And then, Apple bought Beats from us. So you’re talking about two companies that changed my life. So, I...
May 6, 2024
When she was 32 years old, Deidre Mathis stamped herself in the history books for her work as entrepreneur. Forbes reported at the time that Mathis had been rooted in the hospitality sector, which stemmed from her experience solo traveling and residing in hostels while in Greece. “I’m a big solo traveler,” Mathis told the outlet. “I met these fabulous women, and we formed this amazing bond and continued to travel together for a year and a half, doing nothing but staying in hostels.” That’s why in 2018 her experience would push her to launch Wanderstay Hospitality Group, which is described as a Houston, TX-based multi-concept hospitality brand, according to Mathis’ LinkedIn. Mathis would support her venture with a raise of over $5,000 in 31 days from the support of Houston community. She also obtained a small business loan. This led Wanderstay Hospitality Group’s ventures to include (Wanderstay Boutique Hotel), which boasts 10 rooms, and (Wanderstay Houston Hostel), which includes 27...
May 6, 2024
Chris Brown has been in the game for a little over two decades, and making smart business moves coupled with his talent may just be the reason for his longevity in the industry. During an appearance on “The R&B Money Podcast” with hosts J. Valentine and Tank, the R&B crooner opened up about what encouraged him to make franchise investments early on in his career. “I was 17 when I started trying to invest in certain things, just ‘cause I knew… You don’t know how long you going to be successful, and it’s not like every artist can make it look like they getting money, getting money,” he told his fellow R&B comrades. “If you’re not a touring act, if you’re not doing stuff, you need an exit strategy.” As previously reported by AFROTECH™ , during a 2015 interview, Brown told US Weekly that he was the owner of 14 Burger King restaurants. This type of planning, he told the “R&B Money Podcast,” can be a game-changer for an artist. “My investments were like into Burger Kings and stuff like...
May 3, 2024
A new day has begun in Detroit, MI, thanks to the leadership of the Detroit Black Community Food Sovereignty Network. For nearly a decade, the Motor City hasn’t had a full-scale Black-owned grocery store, Detroit Metro Times reports. Now, in May 2024, Detroit People’s Food Co-Op, the first Black-led co-op grocery store in Detroit, has opened its doors. As Detroit is one of the major U.S. cities that faces a significant shortage of food access, Detroit People’s Food Co-Op offers fresh, local grocery items, a deli, and a coffee bar. The outlet details that the store’s fruits and vegetables are sourced from four Black-owned farms in Michigan. In addition to providing quality food and health and wellness products, what makes the grocery store special is that anyone age 21 and over can become a member and have ownership in the co-op. On May 1, 2024, it had over 2,700 members and counting. “This is not something you’re invited to. It’s literally yours,” said Lanay Gilbert-Williams,...
May 3, 2024
Not having a chance to invest in major players in tech ultimately catapulted Serena Williams into the investment ring. During an interview on Bloomberg’s “The Deal,” Williams recalls a time in her tennis journey when she could have faced less pressure to win on the court if she had placed dollars in companies such as Facebook, Airbnb and Google — all companies valued at more than $100 billion today. “Tennis is all sponsor based, and I would see like some of these sponsors come up, but I’m like, ‘Well I have some little cash, like how did I not invest in Facebook? How can I invest in Airbnb or how did I miss Google? Or like, you know, all these companies,'” Williams said on “The Deal.” “ And I started to ask these questions like, ‘Why am I out here breaking my neck and sweating when I could have invested in these companies and I could still be doing the same thing, but it wouldn’t have to be such dire needs, ‘I’ve gotta win this U.S. Open this year. I’ve gotta pay these bills.’ So, I...
May 3, 2024
TikTok and Universal Music Group (UMG) have agreed on new licensing conditions to bring the group’s tunes back to the social media platform. According to the TikTok newsroom, the joint agreement between the two entities “marks a new era of strategic collaboration.” “By harnessing TikTok’s best-in-class technology, marketing, and promotional capabilities, UMG and TikTok will deliver improved remuneration for UMG’s songwriters and artists, new promotional and engagement opportunities for their recordings and songs, and industry-leading protections with respect to generative AI,” read the report. What’s more, fans will see a return of UMG’s recorded music and publishing catalogs on TikTok, thus allowing users to go back to creating content with sounds from some of the culture’s biggest musicians. “Music is an integral part of the TikTok ecosystem and we are pleased to have found a path forward with Universal Music Group,” TikTok CEO Shou Chew said. “We are committed to working together...
May 2, 2024
Ethiopian sustainable tech startup Kubik has scored a first for the country. According to a press release sent to AFROTECH™, it has raised $5.2 million in a seed round. Investors include East African venture capital firm African Renaissance Partners, Endgame Capital, and King Philanthropies. It will now further its work in using plastic waste to make affordable buildings and removing waste from the environment. “Kubik’s vision to build safe and affordable living for all speaks directly to King Philanthropies’ mission to catalyze solutions at the intersection of climate and livelihoods,” Kartick Kumar, managing director at King Philanthropies, said in a press release. “Kubik is at the forefront of innovation in Ethiopia and across the African market, and we’re proud to support the tremendous impact they’re making combatting plastic waste and providing safe, durable, and affordable housing.” The funding round makes Kubik the first Ethiopian country to earn a multi-million-dollar...
May 2, 2024
NBA legend Michael Jordan is enlisting a team of athletic superstars as co-owners of his award-winning tequila company. In a press release shared with AFROTECH™, the NBA Hall of Famer has tapped Serena Williams, Derek Jeter, and a host of other athletes and sports enthusiasts as investors in his award-winning portfolio of luxury tequilas, Cincoro Tequila. “Cincoro has always been special to me because of the authentic friendships we’ve established around enjoying Cincoro and spending time together, designing it, experiencing it, and tasting it. We are constantly striving for greatness,” Jordan, co-founder of Cincoro Tequila, said. “And now that we’re welcoming in some of my closest friends to the business, I’m looking forward to this next era of Cincoro alongside this all-star team.” The company’s new ownership group, Team Cincoro, also includes RedBird Capital Partners Founder and Managing Partner Gerry Cardinale; The Lerner Family, owners of the Washington Nationals; former NFL...
May 2, 2024
Beyoncé’s Cécred is looking to make an impact outside of just the haircare industry. As previously shared by AFROTECH™, the technology-backed company launched in February 2024. Testing was a big proponent in bringing the haircare line that’s “validated by science” to life. “Every hair texture deserves testing, research and development,” Beyoncé told Essence for its March/April 2024 cover story. “Black women in general are the last to be included in testing. We are often prescribed things based on studies we were not included in. It’s bigger than me, or hair. Now we have created something that celebrates healthy hair for all women, including us. I’m always honored to invest in us.” Within the same month of Cécred’s launch, BeyGood, Beyoncé’s public charity foundation, announced its Cécred x BeyGood Fund. According to its website, the annual $500,000 fund was created to give back to professional hairstylists for the impactful work they bring to their respective communities. “Fostering...
May 1, 2024
Sony Pictures Entertainment has officially announced its next EVP, Chief Communications Officer, and the move is a major one… a historic feat, if you will. According to a press release shared with AFROTECH™, Tahra Grant will serve in the position, succeeding Robert Lawson who will relocate to the company’s headquarters in Tokyo, Japan as SVP of Corporate Communications for the entire Sony Group. Not only is Grant the first Black woman to be named Chief Comms Officer at a major Hollywood studio, she is also the only Black woman to hold the position at a major studio among the stars. Since joining the studio in 2016, Grant has “streamlined and sharpened corp comm ops, handling crisis and issues with def skills during Covid and the double strikes, before and after,” per the report. Within a year with the company, she was promoted to SVP of Media Relations and her expertise in the industry continues to expand. She has also worked on several Sony blockbusters, which include Little Women,...
May 1, 2024
Tiger Woods’ reported payout from the PGA Tour has been revealed. As previously shared by AFROTECH™, the PGA Tour announced its $1.5 billion investment from Strategic Sports Group (SSG), which was launched to allow almost 200 PGA Tour members to become “equity holders” in PGA Tour Enterprises. The grants from the new enterprise hinge on career accomplishments, future participation and services, and PGA Tour membership status. “It was incredibly important for us to create opportunities for the players of today and in the future to be more invested in their organization, both financially and strategically,” Woods and fellow board members Patrick Cantlay, Peter Malnati, Adam Scott, Webb Simpson, and Jordan Spieth shared in a joint statement. “ This not only further strengthens the Tour from a business perspective, but it also encourages the players to be fully invested in continuing to deliver–and further enhance–the best in golf to our fans.” Moreover, d uring a conference call with...
May 1, 2024
Ashley M. Fox has had dreams of working on Wall Street since she first decided to attend Howard University. Little did she know that this vision would soon propel her into entrepreneurship. After conquering what some would deem the inevitable, Fox not only became the first person in her family to attend and graduate college, but she also landed her dream career of working with one of the largest banks in the world. Still, there was a desire for more. “After about eight months at my job, I felt like I didn’t have the desire to be the best person on Wall Street, I wanted to be like the client,” Fox told A FROTECH™. “I realized that no matter how long I stayed in my Wall Street job, yes, I was making perfect money, but our clients had at least $25 million or more and I felt like I deserved to be on the other end of the table.” View this post on Instagram A post shared by Ashley M. Fox (@_ashleymfox) Fox built that table for herself and those who look like her through Empify. “The...
May 1, 2024
Kevin Hart is laughing all the way to the bank. The comedian, actor, and entrepreneur scaled his presence in Hollywood, launching multi-platform media company, HARTBEAT in 2022. As AFROTECH™ previously reported, its launch was supported by a $100 million raise from Abry Partners to support content creation, hiring new teams, and the expansion of existing brands and franchises. HARTBEAT went on to debut 23 projects in TV, film, digital and audio in 2023, Variety mentions. Additionally, it has secured strategic partnerships with NBCUniversal, SiriusXM, Sundance Institute, P&G, Walmart, Chase, Draft Kings and even Netflix, releasing “Lift” on the streaming platform on January 12, 2024. His collaborations have proven to be a wise business move for HARTBEAT. According to Boardroom, it is now valued at $650 million. Reflecting on the feat during an interview on “60 Minutes” Hart explained, “I’m no longer just a comedian. I’m an investment. I’m a student. I’m a partner looking for...
Apr 30, 2024