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Black Tech Founders React To A16z Funding PACs For Donald Trump In The 2024 Presidential Race

Longtime supporters of advancing Black tech talent have publicly announced they’re backing Donald Trump in the 2024 presidential race. The Information reports that Andreessen Horowitz (a16z) co-founders Marc Andreessen and Ben Horowitz disclosed to their employees that the leading VC firm is set “to make large donations to political action committees supporting the election of Donald Trump.” In addition, the outlet reports that prior to Andreessen and Horowitz’s announcement of donating to Trump’s PACs, the two hadn’t publicly shown support for him. According to TechCrunch, Andreessen was previously a long-time Democrat. However, he departed from the Democratic Party and sided with Trump based on the former president’s tech policies. Moreover, Horowitz co-signed the reasoning during the duo’s podcast, “The Ben & Marc Show,” per TechCrunch. “I wish we didn’t have to pick a side,” Horowitz said. “We literally [believe] the future of our business, the future of technology, and the...

Jul 22, 2024

East Chop Capital Closes Second Fund Valued At $11M To Expand Minority Investors’ Access To Alternative Investments

East Chop Capital has closed its funding and will deploy capital to Black investors. According to a press release provided to AFROTECH™, the private equity firm’s founders and HBCU graduates Calvin L. Butts Jr. and Carrington Carter have closed an $11 million fund, which draws equity investments from 93 limited partnerships, including Liberty Financial Services. This brings East Chop Capital’s total raise to $15 million. As previously reported by AFROTECH™, $4 million in 2021 had been raised to support its presence in the global vacation market, which is projected to reach $132.7 billion in 2033, as reported by Future Market Insight. East Chop Capital is poised to achieve a 25% return, taking into consideration the fees or expenses involved in overseeing the fund. With additional capital at its disposal, East Chop Capital is poised to amplify its efforts in the initial round, with plans already set in motion to invest in Florida and Texas. “Fund II is about scale and pattern...

Apr 30, 2024

Clark Atlanta University Graduates Inch One Step Closer To Raising $2M In Funding For Their Alcohol Delivery Platform

Three Clark Atlanta University graduates are closer to their goal of reaching $2 million in funding for their alcohol delivery service. As AfroTech previously told you, Miami, FL-based startup QuikLiq was launched by HBCU alumni with a mission to transform how wine, beer, and spirits are delivered to consumers.

May 30, 2023

AT&T Honors 'Future Makers' By Awarding The Inaugural Class Of HBCU Students $125K

AT&T continues to lead the charge when it comes to paving the way for future Black changemakers! The network has announced the top 25 honorees from its inaugural Dream in Black Rising Future Makers class made up of students who currently attend Historically Black Colleges and Universities (HBCUs). “This year’s applicants were the strongest submissions we’ve received to date and their stories spoke to the core mission we seek to amplify through our AT&T Dream In Black initiatives,” said Angela Burgin, AT&T Director of Marketing and Special Experiences in an official press release shared with AfroTech. “We are thrilled to recognize this dynamic group of students for their amazing accomplishment and support them in furthering their dreams as future leaders in their communities.”

Nov 30, 2021

Sisters Turned Founders Become The First Black Women In Kansas To Raise $1M In Funding

QuickHire, led by sisters Deborah Gladney and Angela Muhwezi-Hall, broke barriers becoming the first Black women in Kansas to raise over $1 million in funding. In a seed round led by MATH Venture Partners, the career development platform raised $1.41 million. Sandalphon Capital (Chicago), KCRise Fund (Kansas City), October Minority Impact Fund (Kansas City), Tenzing Capital Ventures (Wichita), Accelerate Venture Partners (Wichita), Sixty8 Capital (Indianapolis), Ruthless for Good (New Orleans), Revolution’s Rise of the Rest Seed Fund (D.C.) and ETF@JFFLabs (Boston) also participated in the round. Gladney told AfroTech exclusively that it’s easy for investors to focus on what makes a Black startup different. However, they felt it was important to seek out synergies with investors who focused on what brings them together. Doing so brought their search to investors in the Midwest region and venture capital firms who have shown support for minority and underserved founders. The ideation...

Nov 19, 2021

Startup Kippa Raises $3.2M To Help Africa’s Small Businesses Improve Their Bookkeeping Practices

Sometimes small businesses face the challenge of learning how to develop effective bookkeeping practices. This obstacle could lead to disrupted cash flow and a failure to meet the financial obligations of one’s business. Looking to resolve this issue in Nigeria is the startup Kippa, which markets itself as the country’s simplest accounting software. Founded by Kennedy Ekezie alongside Duke Ekezie and Jephthah Uche in February 2021, the application is designed to help small business owners create a bookkeeping system that will help them “recover debts 3x faster,” TechCrunch reports. According to Kippa, a stand-out feature on its application is customers who have not made payments can not only be tracked, but they will receive an automated reminder message for the business owner to recover debts. In addition, businesses can manage inventory, track daily cash flow and expenses, create invoices and generate receipts. “For us, what we do is we have such a unique opportunity to provide...

Nov 18, 2021

First Black-Owned Cream Liqueur With A National Presence Is On Its Way To Quintupling Its Revenue From 2020

This Black-owned cream liqueur brand with a national presence has announced a whole new brand identity! According to a press release, LS Cream Liqueur — inspired by the iconic, traditional Haitian drink known as “cremas” — is on track to quintuple its revenue from last year. The brand’s overall mission is to place the founder’s authentic family recipe in the hands of the modern drinker. View this post on Instagram A post shared by LS Cream Premium Liqueur (@lscreamliqueur) They’re also looking to transform the way that people enjoy cream liqueurs outside of just the holiday season. “LS was first inspired by my grandmother’s cremas recipe that we’ve enjoyed at our family celebrations for decades,” said co-founder Stevens Charles in an official press release. “We managed to capture the taste of cremas and put it in the form of a traditional cream liqueur to make it more versatile for cocktails and easy sipping since the homemade version is usually a thicker recipe. We’re excited to...

Nov 5, 2021

Meet The HBCU Alum Who Has Been Promoted To President Of Disney Branded Television

In 2020, Ayo Davis was hired as the executive vice president of creative development and strategy for Disney Branded Television, where she had the authority to direct all live-action programming for scripted and unscripted series in addition to movies and specials. Under her role, the Dillard University graduate would report to Gary Marsh, who had served 32 years as the former president and chief creative officer for Disney Channels Worldwide. Well, it looks like Davis has been doing a stellar job within her role because, in case you missed it, she received another major promotion within the company in September of 2021, replacing Marsh as the new president of Disney Branded Television. In her new role, Ayo Davis will report directly to Peter Rice, the Chairman of Disney General Entertainment. “Ayo is a focused leader with impeccable creative instincts who’s excelled in every role she’s held at Disney,” Rice shared in a statement. “Her creative eye for talent has made a meaningful...

Nov 5, 2021

Bank Of America Pledges $10M To Historically Black Johnson C. Smith University

Johnson C. Smith University (JCSU) will soon get a huge gift on behalf of Bank of America. According to a press release, the banking institution has pledged $10 million to what is considered one of the leading private liberal arts Historically Black Colleges and Universities (HBCUs) in the South. The funds are a part of Bank of America’s Mayor’s Racial Equity Initiative in the Charlotte, NC region. It includes the company’s larger, $1.25 billion, five-year commitment to create more economic opportunities and push the advancement of racial equality within local communities. “Education is a gateway to a better life,” said Kieth Cockrell , President of Bank of America Charlotte in an official statement. “Our long-term relationship with JCSU has set the foundation for this critical moment – a collective partnership among the public and private sectors working to eliminate existing barriers by providing unique opportunities to JCSU students. Together, we will grow a strong pipeline of...

Nov 2, 2021

Beyoncé Expands Partnership With Peloton To Inspire HBCU Students On Their Fitness Journeys

Beyoncé will be blessing us yet again through her Peloton x Beyoncé Artist Series set to release Tuesday, Oct. 19. If “The Drunk In Love” singer is in the mix, you know everything will be on a bigger scale. The installment marks one of the most anticipated events produced by the world’s leading interactive brand since its inception in 2012. View this post on Instagram A post shared by Peloton (@onepeloton) The 72-hour fitness phenomenon will include 17 classes spanning three days with content streaming globally from Peloton Studios in London and New York. For the first time, Peloton will include classes in three languages — English, German and Spanish — to be more inclusive. According to a press release from PR Newswire, the upcoming series will dive into “the relationship between our inner and outer power, how we harness motivation and source our strength with inspiration from the world around us, and from within.” “The Beyoncé Artist Series allows you to mentally draw deeply from...

Oct 18, 2021

Mark Zuckerberg Loses Nearly $6B In One Day Thanks To Facebook Outage

On Monday, Oct. 4, the world experienced a blackout that lasted nearly six hours from social giants Facebook, Instagram and WhatsApp, causing Mark Zuckerberg to subtract from his billion-dollar fortune. According to Forbes, the Facebook head lost $5.9 billion in just a few hours, making him the world’s sixth richest person with a net worth of $121.6 billion. The sharp decline can be attributed to the turmoil created Monday, which caused the platform’s stock to decline 4.9 percent. As AfroTech previously reported, the blackout disrupted the internal systems of the platform with some employees reportedly being locked out of headquarters, unable to access company e-mails and Workplace, the company’s internal communication platform. The social giant’s difficulties have only heightened since mid-September when the Wall Street Journal revealed a series of stories that said Facebook was aware of discrepancies within their products that include misinformation and harmful media effects,...

Oct 5, 2021

Delaware State University Cancels Over $700K In Student Debt For Recent Graduates

For recent Delaware State University (DSU) graduates, student debt will be less of a burden. According to the university , they will cancel up to $730,655 in student debt for recent graduates that have faced financial hardship during the COVID-19 pandemic. The historically Black university has used its stimulus funds from President Biden’s American Rescue plan to help its students by canceling their debt. Forbes reports that The Education Department updated guidance in March to allow institutions to use the money for different needs which includes canceling some student debt. “Too many graduates across the country will leave their schools burdened by debt, making it difficult for them to rent an apartment, cover moving costs, or otherwise prepare for their new careers or graduate school,” said Antonio Boyle, a vice president for the university. He also notes that 87 percent of DSU graduates either enter the career of their choice or enroll in graduate school within six months of...

May 17, 2021

These HBCU Grads Are Behind The First Black-Owned Alcohol Delivery Service

Cheers! Thanks to these two Historically Black College and University (HBCU) grads, you could soon have your cocktail ingredients delivered to your front door, reports Blackbusiness.com. Navarr Grevious and Mikáel Pyles met on campus while attending Clark Atlanta University back in the early 2010s and not only did they become good friends and fraternity brothers, but now they’re business partners and have created the perfect digital platform for the alcohol industry. QuikLiq — operating out of Miami, FL — was designed to make ordering alcohol both easy and convenient and is well on its way to becoming a leading digital platform for wine, beer, and spirit delivery. “QuikLiq is a tech-forward digital marketplace that provides our customers with access to the best selection of wine, beer, and spirits , right from the comfort of their homes,” according to the company’s website. “By partnering with the premier alcohol retailers along Miami Beach and throughout the US, we have set out to...

May 13, 2021

HBCU Grads Found Vegan Burger Company to Educate the Black Community

Morgan State graduate Duane Myko, Bowie State alumna Danita Jones and Chef Jumoke Jackson recently launched Everything Legendary , a vegan burger business. According to BOTWC , co-founder Myko was inspired to create “a flavorful alternative to meat products” after his mother’s strict vegan diet helped her battle lupus for over 35 years. In 2019, he and his business partners put their money where their mouth is. “Our goal is to educate the community on the benefits of a healthy vegan lifestyle,” Myko said. View this post on Instagram A post shared by Everything Legendary™ (@go_legendary) The healthy burger company, which pivoted to nationwide delivery due to the pandemic, offers soy-free and gluten-free burgers in four flavors: classic burger, pepper jack, cayenne pepper, and cheddar. They also sell a signature sauce. Not only is Legendary serving customers right at their door; they’re also giving back to their old stomping grounds—HBCUs. View this post on Instagram A post shared by...

Jul 28, 2020