All results
Howard University graduate Olympia Auset is combating food deserts in South Los Angeles, CA. Auset launched SÜPRMARKT, a grocery store that began as a pop-up and subscription service in the area, Forbes reports. Its inception was the result of her reaching a breaking point when traveling over two hours by bus to find affordable organics grocery products that would adhere to her vegan diet. At the time, South L.A. had 1.3 million residents and only 60 grocery stores, classifying it as a food desert. “It became difficult to eat healthy simply due to access,” she told the outlet. In 2016, SÜPRMARKT launched as a pop-up in Leimert Park with community support, according to its website. Four years later, Auset purchased land that would become SÜPRMARKT’s first brick-and-mortar location thanks to assistance from partners Open Architecture Collaborative Los Angeles and Engineers Without Borders. View this post on Instagram A post shared by LOCALE (@localemagazine) The grocery store prides...
Shaw-naé Dixon is behind a popular soul food restaurant in Staten Island, NY. Dixon’s interest in cooking dates back to her time in the kitchen with her grandmother, her website reads. She would continue to nurture her skills at church and a local soup kitchen. “My grandmother was a dietician for over 40 years, and I know that my grandmother taught me a lot of different recipes when I was growing u p,” Dixon said during an interview with Bon Appétit . “ And it wasn’t necessarily about the recipes and the food, it was about the technique and making sure that I could feed a lot of people at one time. “ In her adult years, Dixon first pursued a career in education. For over a decade, she was a teacher. However, she was pushed into her true calling of becoming a restaurateur after spending time in a coma. “Following a very, I won’t say difficult time, but a pivotal time in my life when I was in a coma, when I woke up, I said, ‘ Chase your legacy and not the luxury.’ Opening up a...
Keith Lee experienced survivor’s remorse when he bought his first home in 2024. Lee, a former delivery driver and MMA fighter, is a well-known food reviewer who boasts 16.8 million followers on TikTok alone. His reviews have led businesses to become overnight successes within their communities. In fact, some have even expanded after gaining traction from his reviews. As previously reported by AFROTECH™ , Stricen Carter had been on the verge of closing down her New Orleans, LA-based NOLA Sips and Sweet Thangs, which sells a variety of flavored snowballs and treats, until Lee’s review. Since then, her business has not only stayed afloat but she has also opened a storefront in Houston, TX. View this post on Instagram A post shared by DESIGNER SNOBALLS ®️🍧🌈🍭✨ (@sweetthangsnola) Beyond providing visibility, Lee has also demonstrated his commitment to supporting small businesses financially. As he revealed on the “Club Shay Shay” podcast, hosted by Shannon Sharpe, Lee invested $300,000...
Leading with integrity over the dollar sign is food reviewer Keith Lee’s mantra. Keith Lee is renowned for his social media presence, where he shines a spotlight on small-owned businesses , helping them gain widespread attention. With 16.8 million followers on TikTok and a staggering 794.2 million likes (as of this writing), his influence is undeniable. Beyond amplifying businesses, Keith is also known for his restaurant reviews, many of which have gone viral. His reviews carry significant weight, often referred to as the “Keith Lee Effect” — a phenomenon where his endorsement can skyrocket a business’s popularity, while a less favorable review might have the opposite impact. As previously reported by AFROTECH™ , Keith Lee’s platform played a pivotal role in supporting Soul Prime Chicago, founded by Shonya “Chef Royce” Williams. At the time, the restaurant was facing financial struggles just four months after opening, struggling to pay its staff. Following Lee’s video, customer...
Goodr has opened a new grocery store in Atlanta, GA. The Atlanta-based company, which combines technology and logistics to combat food waste and fight food insecurity, is the brainchild of Jasmine Crowe-Houston. “[Goodr] uses technology to solve hunger — that’s our big focus. I think we are taking a radically different approach to how this country solves hunger and food waste,” Crowe-Houston told AFROTECH™ in a 2021 interview. “A lot of times people say to me, ‘How is this a business? How can this be profitable?’ But, the main thing is people have to understand that billions of dollars get spent every year on food insecurity and trying to make sure people have access to food. But, it typically only goes to the same organizations.” She added, “And what we’re trying to do is come in and kind of disrupt that and say, ‘Listen, we’re getting a lot wrong about solving hunger if we’re always going to give money to the same people. We’re going to keep on having the same results.’ Give Goodr...
Queen Latifah is helping a Black woman-owned soul food restaurant receive a well-deserved blessing. During a taping of “Street You Grew Up On,” hosted by actress Kerry Washington, it was revealed that Latifah selected Newark, NJ-based Vonda’s Kitchen to receive a $10,000 financial award. The investment is made possible through a partnership between fintech platform Intuit QuickBooks and Washington, aimed at fostering discussions around entrepreneurship, community, and mentorship. As part of the initiative, featured guests are given the opportunity to select a small business to receive funding, according to information shared with AFROTECH™. As a Newark native, the selection was full circle and Latifah emphasized its importance, believing the funds would be well-used under the leadership of owner Vonda McPherson. According to the company website, McPherson transitioned into entrepreneurship after a corporate career with Fortune 500 companies, opening her first restaurant in 1988....
McDonald’s, the global fast-food giant, continues to maintain a dominant presence in the quick-service restaurant industry in 2024. Known for its iconic menu items like the Big Mac, fries, and McFlurry, McDonald’s is much more than just a food company. Its market capitalization, or market cap, reflects its broad financial success, brand power, and global influence. In this article, we’ll take a look at McDonald’s net worth, or more accurately its market cap in 2024, what factors contribute to its valuation, and why it remains one of the most valuable companies in the world. What Is McDonald’s Market Cap? Market capitalization is a financial metric that represents the total value of a company’s outstanding shares of stock. It’s calculated by multiplying the company’s current stock price by the number of shares outstanding. For a company like McDonald’s, which has millions of shares trading on the stock market, market cap provides insight into how the market values its business. For...
Mike Tyson has invested in the plant-based food sector. According to a press release, Carma HoldCo , the parent company of cannabis brand Tyson 2.0, has made an investment in Mr. Charlie’s Told Me So (TMS), a quick-service plant-based restaurant. Co-founded by Aaron Haxton and Taylor McKinnon, the restaurant offers “Not a Hamburger” patties, Tindle-based nuggets, and “Frowny Fries,” among other menu items. Thanks to the investment, Mr. Charlie’s TMS, which already has locations in Los Angeles, CA; San Francisco, CA; and Sydney, Australia, is set to reach even more customers globally as part of the plant-based movement. View this post on Instagram A post shared by Mr.Charlie’s Told Me So (@mrcharlies) Furthermore, Tyson views the investment as a prime opportunity to promote healthy alternatives, aligning perfectly with his personal values. As a longtime follower of a vegan lifestyle, he is especially excited about this venture. “Mr. Charlie’s is a natural choice for Carma Holdco, as...
Snoop Dogg was advised by longtime friend Dr. Dre to turn down a multi-million-dollar deal. During a sit-down interview with Stephen A. Smith on his eponymous YouTube channel, the pair discussed their history and how they found success in both music and business. The Pair’s Success Dr. Dre is among the wealthiest figures in Hip Hop. Eleven years after co-founding the legendary Hip Hop group N.W.A, he attached himself to the venture Aftermath Records in 1998 and later sold his stake for $35 million to Interscope Records. The “million-dollar man” then nearly became a “billion-dollar man” as a co-founder of Beats Electronics, which was purchased by Apple in 2014 for $3 billion, as AFROTECH™ previously reported. As of 2024, his net worth reportedly sits at $500 million, according to Celebrity Net Worth. Speaking on the feat, Dr. Dre told Stephen A. Smith, “Let’s just say life is good and I’m very comfortable right now. It’s very comfortable.” As for Snoop Dogg, he has become one of the...
A grocery store considering its community first has opened in Baltimore, MD. The Baltimore community will now be able to shop at the Pratt Free Market, which will operate as a full-service grocery store following a ribbon-cutting ceremony held by the city’s Enoch Pratt Free Library. The market is inside the library’s Southeast Anchor location in the Highlandtown neighborhood. M’Balu “Lu” Bangura, chief of equity and fair practices at the Enoch Pratt Library, shared on Instagram that no income verification or ID will be required at the grocery store, and all items will be available for free to those living in a state where one-third of the population experiences food insecurity. Per WBAL-11 TV, customers will be able to stock one library-supplied bag each day. “Just come as you are and fill a bag with groceries at NO COST,” Bangura wrote on Instagram. “This market is for the City. All are welcome…I dreamt of this almost 2 years ago, I’m so proud to cut the ribbon on the first 100%...
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,...
Kevin Hart’s vegan restaurant chain has quickly closed. As AFROTECH™ previously reported, the comedian launched Hart House in 2022 — with the promise of opening more — alongside what he called a premiere lineup of associates and industry pioneers. Its first location opened in Westchester, CA, near the Los Angeles International Airport, Eater reports. “I am THRILLED to announce that I have collaborated with an All-Star team of partners and industry leaders to create an industry-changing restaurant called ‘Hart House,’” Hart wrote on Instagram at the time. “This thing is going to be HUGE! We’re going to serve delicious, sustainable food, that delivers ‘Can’t-Believe-It’ Flavor in every bite!!! We’ll be opening our first few locations in the LA area, but we will be expanding quickly.” Hart House did deliver on its word to grow the business. By 2024, Hart House had extended its portfolio with three additional California locations: Monrovia, University Park, and Hollywood. The draw has...
Kevin Johnson’s food venture is rapidly growing. As AFROTECH™ previously told you, the former NBA player who made headlines for becoming the first Black mayor of Sacramento, CA, is the founder of a restaurant venture named Fixins Soul Kitchen. He opened the first location in that very city, which is also his hometown, in 2019, notes Eater Detroit. “I grew up in Oak Park, so that was the poor part of the city of Sacramento, and like every city around the country, it was the underserved community,” Johnson told Eater. “I wanted to do our first Fixins in that neighborhood to prove that we could be successful in the neighborhood I grew up in.” Fixins Soul Kitchen has expanded and now has four locations in the following areas: Sacramento, CA (Oak Park) Los Angeles, CA (LA Live) Tulsa, OK (Black Wall Street) Detroit, MI (Paradise Valley) View this post on Instagram A post shared by Fixins Soul Kitchen (@fixinssoulkitchen) The restaurant’s menu items were inspired by various soul food...
Rick Ross’ investment in Wingstop appears to be a wise business decision. Forbes reports that Ross’ interest in the fast-casual restaurant chain dates back to the early 2000s, but it was not until launching his music career that he became inspired to purchase a franchise. “I began having those thoughts every time I pulled up to the restaurant,” he told Forbes. “Like, ‘Yo! This is something I need to do.’” Ross secured his first location near Memphis, TN, and expanded to five locations by 2014. At that time, Ross mentioned that some of his stores saw an uptick of 50% in monthly revenue. Fast-forward nearly a decade, and Ross now has nearly 30 locations under his belt as of 2023, with some locations earning $200,000 annually, as AFROTECH™ previously reported. Moreover, across the board , Wingstop is emerging as a lucrative investment, as evidenced by its stock price climbing 1,135% since it went public in 2015, CNBC mentioned. In the past five years, its stock prices have surged 262%;...
Well-known for her career in entertainment, Malinda Williams is now dedicating time to uplifting women in technology. The Pivot Many may recognize Malinda Williams for her work as an actress, which includes credits in shows such as “The Cosby Show,” “Sister, Sister,” “Moesha,” and films like “Soul Food” and “The Wood.” She had been booking gigs for more than 30 years, yet she encountered a period of stagnation during which work became scarce. Money management had always been easy for her, which was helpful when it was time to stretch her earnings, Williams shared in an interview with AFROTECH™ . Eventually, she had to move to New Jersey and ventured into a “difficult” period, which also reignited a new area of interest. “I set out on a continuation of my spirit spiritual journey, but I also went to the bookstore, and that’s where I find a lot of my spiritual material, and a book called ‘HTML For Dummies’ fell off the shelves,” she told AFROTECH™. “I had tinkered around a little bit...