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This women’s health company has been acquired. Launched in 2017 by Erica Chidi, LOOM has been a helpful sexual and reproductive resource for women, launching first at a physical location in Los Angles, CA, before scaling to a mobile application, its website mentions. TechCrunch reports its offerings included courses, content, and community for women. Chidi’s vision had been emboldened with a $3 million raise a few years later, joining the few Black women to do so. “I was like the 34th Black woman to raise over a million dollars in venture capital,” Chidi recalled to TechCrunch, adding that she didn’t expect she would raise the nearly $3 million in three months back in late 2019. “At the moment, there was just a new interest in women’s health.” In total, Chidi has secured $6.5 million in funding since its inception with support from Slow Ventures and Founders Fund, along with celebrity interest that included Tessa Thompson and Gwyneth Paltrow. Now, LOOM is turning a new leaf. It has...
If you have even a passive interest in sports, professional fighting , or mixed martial arts, you’re undoubtedly aware of the UFC, which shattered records in 2023 as the largest MMA promotion in the world. The entity, whose title is short for Ultimate Fighting Championship, is one of the largest subsidiaries of Endeavor Group Holdings, which owns such massive companies as the Asylum Entertainment Group, TKO Group Holdings, and Professional Bull Riders. As of 2024, the UFC has ballooned its market capital to record highs , and run more than 700 events worldwide. According to BetMGM , the UFC is currently valued at a net worth of over $12 billion, with expectations to continue growing as the years carry on. Given that the outlet is so successful, it only makes sense that we perform a deep dive into the history and financial security of the business. Any entity which balloons from a humble MMA showcase to a multi-billion industry in the span of just 30 years is absolutely worth...
Wisdom and Cherie Jzar started farming for their family, but it grew into much more. The couple is behind DeepRoots CPS Farms, located in Charlotte, NC, which opened in 2019, reports The Charlotte Observer. The initials of the business represent “community planning solutions.” “We started as homesteaders wanting to grow food for our family and ballooned to producing enough that we could share with our neighbors,” Cherie told the outlet. Per the farm’s Instagram page, they even have a partnership with Gaston County Schools to provide students locally-grown foods. View this post on Instagram A post shared by DeepRoots CPS Farm (@deeprootscpsfarm) The 7-acre farm has been fertile soil for herbs, vegetables, and mushrooms. Additionally, chickens, ducks, goats, beehives, and a palomino horse can be found on the land. View this post on Instagram A post shared by DeepRoots CPS Farm (@deeprootscpsfarm) “We were intentional about being farmers because we know that the number of Black farmers...
A new venture capital firm is on the block with significant capital at its launch. According to WWMT-3 TV, Kalamazoo Forward Ventures (KZFV), reportedly the first Black-owned investment fund in Southwest Michigan, has launched with $50 million in capital, derived from limited partners. The firm has as its purpose to arm underrepresented founders residing in Kalamazoo, MI, as well as startups. “We came up with that fund by thinking about what we want to accomplish in the community, the ecosystem, and the funds started growing as the ideas started growing,” Eric L. Wimbley, CEO and founder of First Line Risk Management and managing partner of KZFV’s venture capital fund, explained, according to the outlet. Jamauri A. Bogan, CEO of Bogan Developments and KZFV general partner, commented: “It’s our job now as investors to this community and this ecosystem to now get that capital to folks who traditionally never have it.” Also a part of the group is Bobby J. Hopewell, who was the former...
A multi-million-dollar investment towards Black farmers is underway. As AFROTECH™ previously reported, the Black Farmer Fund, created by Karen Washington and Olivia Watkins, raised $11 million in September 2023 to support Black-owned agricultural systems through wealth-building opportunities. Since then, the New York-based nonprofit has reached its target goal in a second fund, which will deploy $20 million in capital to improve the Black food system, a press release states . It will specifically target food businesses in the Northeast region and provide support in the form of “low-interest loans and gifts.” The intention is for the awarded businesses to enable Black growers to strengthen their presence in the market and gain greater authority in the supply chain. This is timely when considering Black farmers have been faced with various challenges throughout the decades, which includes discrimination that has led to the denial of low-interest loans, grants, and further assistance,...
Simultaneously running a business and going to school is no easy feat, but it worked for Deven Hurt, co-founder and CEO of PredictionStrike. While attending Harvard Law School, he focused on growing his startup. Today, it has paid off as PredictionStrike — “the stock market for sports fans” — is valued at $32 million after receiving additional funding.
