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Bookstore owner Jeannine Cook will be able to remain in business after receiving support from her community. Cook is the owner of Ida’s Bookshop, located in Collingswood, NJ. The shop opened in 2021 to amplify women authors, artists, and activists, and it is the sister shop of her first bookstore located in Philadelphia, PA, according to Black In Jersey. On Jan. 3, Cook shared with the New Jersey community that Ida’s was on the brink of closure due to the landlord increasing the price of rent. This would mean the store won’t be able to cater to local customers in-store for Black History Month since its lease is set to expire during February. “Just so folks aren’t alarmed if we potentially have to move/close, our landlord is going up on rent into a rate that we cannot afford-all we sell are books- and if you can imagine the margins ain’t great. Our lease ironically ends in February (Blk History Month) which could mean sadly one of a handful of Blk owned businesses would be closing...
The hype surrounding non-fungible tokens (NFTs) and smart contracts presents Black Tech Street the perfect opportunity to unveil their latest campaign. The national initiative — which launched on the Tulsa Race Massacre anniversary last month — is now launching the first-ever regenerative fundraising campaign to build a brand new tech hub for Black entrepreneurs in Tulsa, OK, a press release reports. As part of its commitment to facilitate a $1 billion investment in the Black Tulsa Economy, Black Tech Street hopes this campaign will inspire social impact giving from today’s most impactful innovators and investors. “We are minting a one-of-a-kind Centennial Coin NFT to commemorate the 100th anniversary of the Greenwood Massacre and to raise funds to secure the next 100 years of innovation and success for Black entrepreneurs,” Black Tech Street founder Tyrance Billingsley II said in a statement. In partnership with SecondMuse and Blockchange, the new tech hub will represent what was...
The nation’s largest Historically Black College and University (HBCU) just set an all-time record for fundraising. According to NPR, North Carolina A&T State University (N.C. A&T) has raised $88 million since its fiscal year began last summer, which is nearly six times what the university normally fundraises annually, and it’s not even over yet. The university’s new fundraising brings its total to $181.4 million, completing its eight-year campaign, according to an announcement from administrators. Including its endowment, N.C. A&T’s assets are also now listed at $153 million, making it the most of any public HBCU ever. “There has not been a year like that ever in our history,” Todd Simmons — N.C. A&T’s associate vice chancellor for university relations — told the NPR. “Nor has there been a year like that in the history of nearly any other public HBCU in America.” The outlet reports that the uptick in donations and support from both private donors and large corporations came as a...
Bridge Philanthropic Consulting (BPC) — considered the largest full-service Black-owned social justice fundraising firm — has announced new promotions within the company including appointments of Dr. Tashion Macon and Prof. Jennifer Jiles to its staff. According to a press release, Dr. Macon — an award-winning Marcom Strategist and Culturalis — has been promoted to Senior Vice President of Marketing/Branding and Social Justice Strategy where she will utilize her wealth of knowledge in branding and marketing to lead this department. Additionally, Prof. Jiles — an award-winning integrated communications leader, writer, content editor, and producer — has moved up the ranks as the new Senior Vice President of Communications and Public Relations/Social Justice Strategy. “We are thrilled to advance the roles of these two outstanding leaders—BPC is poised for continued growth and market expansion—Dr. Macon and Jennifer Jiles both bring the commitment to quality, experience, and vision to...
Black women are finding even more creative ways to implement fintech into our everyday routines. Spare change technology — also referred to as round-ups — has been around for years, but I Heart My HBCU founder and president Dominique King became the first to introduce this kind of tech to HBCUs via a mobile app. “I Heart My HBCU became the first platform where users could donate spare change to any of the 104 HBCUs in one place,” King shared in a statement. King launched this groundbreaking Atlanta-based funding platform back in 2017 with the help of an elite group of Black women tech entrepreneurs. As a fellow HBCU graduate, her plan for the platform was to preserve the rich heritage of HBCUs across the country, such as Concordia College in Alabama, by connecting them with new ways to fight challenges like closures and lack of funding. Attending Howard University as an undergraduate student gave her a first-hand account of the cultural significance behind HBCUs and why it’s crucial...
Zume Pizza — the billion-dollar robotic pizza company founded in 2015 by Julia Collins and Alex Garden — has reportedly shut down its robotic pizza-making operations and laid off 360 employees , which amounts to over 50 percent of its workforce, according to CNBC. As reported by TechCrunch, this is just the latest in a string of layoffs that have occurred across SoftBank’s portfolio of companies over the past few months. In 2018, SoftBank — investor in the embattled WeWork and Uber — funded Zume to the tune of $375 million. In November 2019, it was announced that Zume would be entering another fundraising round at a $4 billion valuation, according to Vox. However, it appears that the latest round of fundraising didn’t go as planned. On Jan. 6, Reuters reported a source close to Zume indicated that the company planned to layoff 80 percent of its staff. While best-known for its delivery pizza service which featured pies made by robots, not humans, Zume has actually diversified its...
I n 2016, 253 venture capital funds raised $41.6 billion , a 10-year high, and invested it into promising startups. There is so much money floating around to help founders realize their dreams, yet less than 1% of venture funding goes to black founders . So how can black founders learn to appeal to venture capitalists and secure the bag for their tech businesses? This is where Founder Gym comes in. Only seven months old, Founder Gym was created to help solve the funding gap and ensure more venture capital gets deployed to underrepresented founders, including black founders. Via an intense five-week virtual bootcamp, selected founders are given the structure, accountability and connections needed to advance their entrepreneurial endeavors. In its first two cohorts, Founder Gym graduated 70 founders, 50% of whom are black. We recently asked our black founders what advice they could give to other black founders who aspire to raise capital for their business. Here is what they said: “Be...
This year, Morehouse College’s A Candle in the Dark Gala shattered expectations, raising an unprecedented $6.8 million for scholarships that will directly impact the lives of current and future students. As one of the most prestigious fundraising events, the gala in Atlanta, GA, celebrates Morehouse’s legacy and its unwavering commitment to empowering young men and strengthening the community. Among the evening’s most compelling moments was the heartfelt address from Rashaun Williams, a Morehouse alum, investor, and philanthropist, who is a 2025 recipient of the Bennie Award and recognized as a Trailblazer. He spoke about the institution’s transformative role in his life. Williams, who has built a career investing in emerging businesses and supporting economic empowerment, credited Morehouse with stepping in when he needed guidance, structure, and a sense of belonging. “Morehouse was my first investor. You’re looking at the return on investment that you get when you invest in...
The right circle can change your circumstances in the blink of an eye! Calling all early-stage, pre-seed, and seed founders — join the AFROTECH™ Insider Founders Circle to build for the future alongside a network that could lead to your next investor or co-founder. This membership aligns with our mission to empower Black entrepreneurs with the tools to succeed and drive innovation across industries, including fintech, medtech, and consumer tech. “At AFROTECH™, we strive to help make a difference and change the narrative regarding raising capital, starting and scaling a startup, and networking with the right people to help grow your business,” Blavity Chief Revenue Officer Michael Hadgis said on LinkedIn. “We created the AFROTECH™ Insider Founders Circle to help founders navigate the path and their business pitch become investor-ready!” Perks The sky’s the limit! Your direct participation in the AFROTECH™ Insider Founders Circle gives you access to exclusive perks, including office...
As the rollback and termination of diversity and inclusion initiatives continue, the fourth annual Fifteen Percent Pledge Gala successfully raised $3 million on Sunday, Feb. 2, 2025, to support black-owned businesses. According to Women’s Wear Daily, the event at Paramount Studios in Los Angeles, CA, attracted many notable figures from culture and business, including Keke Palmer , Ciara, Kelly Rowland, Teyana Taylor, and Jesse Williams. Prominent artists such as Amy Sherald and Mickalene Thomas were also in attendance, along with CFDA Womenswear Designer of the Year Rachel Scott from Diotima; Tatcha founder Vicky Tsai; model Amber Valletta; and celebrity stylists Law Roach, Wayman Bannerman, and Micah McDonald. “This is exactly the time we need to show up and continue to speak out,” Fifteen Percent Pledge Founder Aurora James said at the gala, per WWD. “Each and every one of us, our stories, our pasts, our cultures and identities, are part of the fabric that makes America great....
The workforce is shifting in ways we’ve never seen before, and 2025 is the year to be strategic. From AI jobs changing the future to frontline roles making a major comeback, the opportunities are out there — but thriving in this market requires more than just showing up. “It’s a fresh year, and I know the pressure’s on to hit the ground running,” says Andrew McCaskill. “The job market feels tough right now. Competition is fierce. Black professionals and people of color are facing some unique challenges, from systemic racism to limited access to mentors and sponsors. Despite the challenges, opportunity is still out there, and we always persevere. The key is to work smarter, not harder.” As we explored in a recent AFROTECH™ breakdown of workforce trends, industries like AI, travel, and healthcare are booming, offering new opportunities for professionals ready to pivot or grow. LinkedIn’s Jobs on the Rise 2025 report takes it a step further by spotlighting 25 of the fastest-growing...
Equity-focused work may be a point of contention in today’s political environment, but it has not stopped the commitment of those dedicated to ensuring justice. Recently, Operation HOPE Inc. hosted its Hope Global Forums Annual Meeting. This convening brought together community stakeholders and influencers to discuss how to move into the future through economic, technological, and cultural advancements. During the meeting in Atlanta, GA, Hope Global Forum leader and CEO of Operation HOPE, John Hope Bryant, announced one of his goals to raise $100 million to fund the organization’s work of providing financial literacy and economic growth tools for individuals and small businesses. While providing his final remarks, Bryant confirmed that he is well on his way to receiving that fundraising amount through partners and corporations including Delta, Shopify, Truist, and Bishop T.D. Jakes. “Shopify, they’re ready for $60 million,” Bryant said. “Why did they do this? They are good people,...
Co-founders Audrey Djiya and Peter Nsaka have secured funding from Fearless Funding. TechCrunch reports that the pair became connected while attending Stanford University. Djiya attended its school of business, while Nsaka studied computer science. Although they pursued different educational journeys, they were united by a shared mission: solving the complexities surrounding international commerce. Their focus became streamlining the movement of goods across borders, addressing issues such as inefficient supply chains, inconsistent regulations, and barriers to trade. Their unique perspectives and expertise became the foundation for tackling the challenge with innovation and collaboration. For Djiya, she had taken note from her family, who were entrepreneurs. “Growing up watching family members move goods cross-border, the challenges around international commerce really stuck with me,” she told the outlet. Nsaka made his own observations while at Shopify. He took on the role in 2020...
Kamala Harris’ presidential campaign made significant payments to the production companies of Oprah Winfrey and Beyoncé. Campaign finance records from the Federal Election Commission show that Parkwood Production Media LLC, Beyoncé’s production company, received $165,000 on Nov. 19, 2024, according to USA Today. The payment arrived roughly a month after the singer appeared alongside Harris at a campaign event in Houston, TX, her hometown. While Beyoncé did not perform at the Oct. 25, 2024, event at Shell Energy Stadium, she and her Destiny’s Child groupmate Kelly Rowland publicly endorsed Harris in front of the roughly 30,000 attendees. The event focused on reproductive rights , a key issue Harris emphasized on the campaign trail. On Oct. 15, 2024, Harris’ campaign also paid $1 million — split into two $500,000 payments — to Harpo Productions, Winfrey’s media company, USA Today reports. Winfrey explained that the money was for Harpo’s work producing Harris’ “Unite for America”...