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Just last year, Hip-Hop billionaire Jay-Z made his grand entrance into the cannabis industry with the launch of Monogram, in partnership with Caliva, as AfroTech previously reported. Now, the billionaire is hungry for more as he embarks on a new investment in Flowhub — a cannabis technology company — a retail point-of-sale platform for dispensaries. The news broke on Oct. 12 as Flowhub closed on a $19 million round of strategic funding joined by Jay-Z and led by Headline and Poseidon, according to PR Newswire. The valuation for the company now totals nearly $200 million to date. “We are thrilled to announce this capital raise. Headline is an incredible Silicon Valley-based venture capital firm, Poseidon is a pioneer investor in the cannabis industry and Jay-Z is a cultural and creative global force no matter the industry he is involved in,” Kyle Sherman, founder and CEO of Flowhub, revealed in a press release. “I couldn’t think of a better group to be working with as we take this...
Cue the “Dinner With Jay-Z” jokes. Bow Wow recently took to Instagram to credit Hova with providing him with a much-needed financial literacy mindset. “We gotta start teaching the youth early about credit and how important it is,” he wrote in the story, per HotNewHipHop. “It’s cool to have cash, but with good credit … man the world is yours! Nothing like looking at all 3 scores and you a 730 or better!!!! Learn the importance of having good credit! Trust me.” He then credited Jay-Z’s “4:44” album with providing him with the blueprint, because “I ain’t never looked back.” View this post on Instagram A post shared by HOLLYWOOD UNLOCKED (@hollywoodunlocked) As fans of the album are aware, the themes in “4:44” include building generational wealth and leaving a legacy to your children — which, incidentally, are the same types of themes that Black women like The Budgetnista talk about in their financial literacy books . But, hey, however you get your knowledge is fine — as long as you get...
While the music industry has been diving into blockchain and cryptocurrency, Jay-Z is now tapping into a collaboration that aims to make the metaverse more accessible. Jay-Z’s Marcy Venture Partners is investing in spatial LABS (sLABS), a tech incubator that focuses on the metaverse and blockchain-based products, Billboard reports. Roc Nation vice-chairman Jay Brown and longtime venture capitalist Larry Marcus are also investing in the innovation. sLABS is founded by Ghana-born and Southern California-raised technologist Iddris Sandu. Starting at 13-years-old, Sandu has worked with big brands such as Apple, Google and Facebook. The now 24-year-old and his company’s collaboration portfolio lists Uber, Instagram, Beyoncé’s Ivy Park, Kanye West’s Yeezy, Rihanna’s Fenty line, and — as AfroTech previously reported — the late Nipsey Hussle’s The Marathon Clothing Store. https://www.instagram.com/p/CU73ZpSJqGK/?utm_source=ig_web_copy_link The tech incubator is set to launch its debut...