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Shontay Lundy has revealed she has only one regret in her journey as a founder. Lundy’s brainchild, Black Girl Sunscreen, launched with a personal investment of $33,000, as AFROTECH™ previously reported. The company offers products designed to provide hydration without leaving a white residue—a common issue encountered by many in the Black community when applying sunscreen. It was this gap in the market that incentivized Lundy. “I’m a woman of the sun, the time I was living in Miami, I currently live in Los Angeles. I love being on the beach. It was ‘Okay, what do you think about sunscreen?’ My friends would offer me sunscreen and I would tell them, ‘Do you see my complexion? That sh-t don’t work on this complexion,'” she explained during a conversation on with AFROTECH™ Brand Manager Will Lucas on the Black Tech Green Money podcast. “So I jumped on the computer and just started to type in keywords, sunscreen for ethnic skin. Sunscreen for Black girls. Sunscreen for brown girls....
Amazon, one of the world’s most influential companies, continues to grow its presence across various industries in 2024. Known for its dominance in e-commerce, cloud computing, and digital entertainment, the company’s market capitalization reflects its massive global impact. As of 2024, Amazon’s market cap remains a key indicator of its financial health and industry dominance. Let’s explore what Amazon’s market cap is in 2024, what factors influence it, and why it remains one of the most valuable companies in the world. What Is Market Capitalization? Market capitalization, often referred to as market cap, is the total value of a company’s outstanding shares of stock. It’s calculated by multiplying the current stock price by the number of outstanding shares. For a company like Amazon , with its large number of shares traded on the stock market, this figure provides an insight into how much the market values the company. For example, if Amazon’s stock price in 2024 is around $3,500...
A wise investment made by Serena Williams and Alexis Ohanian has greatly benefitted their daughters. As AFROTECH™ previously reported, the couple has been very intentional about investing in their children’s futures. When their first child, Alexis Olympia Ohanian Jr., was 2 years old, she made headlines as the youngest owner of a professional sports team when she was listed alongside her parents as an investor in Angel City, the National Women’s Soccer League team based in Los Angeles, CA. “As someone who spends hours kicking around a football with my two-year-old daughter, I want her to have a front-row seat to this revolution,” Alexis Ohanian said at the time. “I’m personally investing on behalf of my family because creating more opportunities in women’s sports is important to my wife and me, and we want to be a part of making a better future for our daughter.” In August 2023, the couple welcomed the birth of their second child and daughter, Adira River Ohanian, Today reported....
Through diligent effort, Black Girl Sunscreen has achieved substantial earnings. As AFROTECH™ previously mentioned, the company was launched by Shontay Lundy in 2016 through a personal investment totaling $33,000. She was inspired to venture into entrepreneurship after suggestions from friends to wear sunscreen while hiking in Los Angeles, CA, led her on a search for products — with few catering to Black skin. Recognizing a gap in the market, she worked to create a hydrating product that would not leave behind the unfavorable white residue often listed as a complaint in the Black community. “There is a little bit of Shontay in all of my products,” Lundy told AFROTECH™ at the time . “What was important for formulating these products was considering what is important for women of color and Black women. We don’t want anything to dry out our skin so while creating Black Girl sunscreen, this and no white residue were the most important factors.” View this post on Instagram A post shared...
After going from social virality to having her product on store shelves, Chef Pii — Veronica Shaw — is seeking support. On Aug. 16, the founder of The Pink Sauce posted a GoFundMe campaign to “help get justice” for her company. She claims that a previous partnership with a company has turned sour, and she is seeking funds that have allegedly been stolen from her business.
When you don’t see what you need, there’s power in creating it yourself. The lack of sunscreen catered to melanated skin has birthed brands such as Shontay Lundy’s Black Girl Sunscreen. Dalaise Hickey has joined the movement by creating BabyDonna, a Black-owned mineral sunscreen for melanin-kissed kids, according to the Shelton Herald.
No matter one’s background, they’re deserving of access to education. Currently, there are several Historically Black Colleges and Universities (HBCUs) that share this sentiment and are taking initiative. A majority of formerly incarcerated people of color aren’t presented life fulfilling opportunities. Changing this circumstance, Parents reports that HBCUs nationwide are creating and investing in new prison-to-college education programs. The programs aim to “reduce recidivism and improve economic opportunities.” They help to teach skills needed to land jobs, become a business owner, and navigate life after prison. Overall, the mission is to support individuals in having a higher probability of successfully re-entering society. The effort is a flip of the pre-K to prison pipeline, which has harmed the Black community and its youth. Currently, institutions such as Howard University, Claflin University, and Lane College are part of providing a way for formerly incarcerated people of...
Black Girl Sunscreen is becoming more accessible to the masses. Founder Shontay Lundy leads the brand on a mission to formulate skincare products geared toward the Black community. As AfroTech previously told you in an exclusive interview with Lundy, she had plans to expand into additional stores. “We will be accessible in a couple more stores which is great because this means the community is supporting us,” Lundy said. The brand is already available in stores like Target, Walmart, and Ulta. Now, just a few months from Lundy’s proclamation, Walgreens has become the next major retailer to house the beloved sunscreen brand on its shelves. Black Girl Sunscreen is currently sold at over 3,100 Walgreens stores, Walgreens.com, and through the Walgreens app. “We knew from our research that people with darker skin tones weren’t using sunscreen because there was no product on the market specifically tailored to them,” said Emily Curtiss, Walgreens associate category manager for sun care,...
Sunscreen is essential for your skin, and Winnie Harlow founded her own line — Cay Skin — to highlight the fact. Ahead of Cay Skin’s launch last week, the model raised a $4.1 million seed round in January — making her one of about 100 Black female founders to have raised more than $1 million in venture capital funding, Fortune reports. The latest round brought her brand’s total funding to $6.5 million. Investors in Cay Skin include Duggal’s Female Founders Fund, True Beauty Ventures, New Money Ventures, Air Venture Partners, and Silas Venture Partners.
In case you’re wondering, yes, Black people should wear sunscreen. Thankfully — according to esthetician Nayamka Roberts-Smith — Black Girl Sunscreen is a trusted go-to. Founded by Shontay Lundy, Black Girl Sunscreen offers one primary product — its ultra-sheer, vegan SPF 30 sunscreen infused with natural ingredients including avocado, jojoba, aloe, cocoa butter, and carrot juice. With its indie success, the brand recently secured a $1 million investment from a private female funding source, reports Forbes . The new infusion of capital increased the beauty company valuation to $5 million. “We created a groundbreaking product for an underserved market that resonated with our community,” she said. “Black Girl Sunscreen brought awareness and shifted a mindset around people of color wearing sunscreen.” View this post on Instagram A post shared by Black Girl Sunscreen (@blackgirlsunscreen) Black Girl Sunscreen — launched in 2016 — creates products with a focus on melanated skin (no white...