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Robert F. Smith’s Vista Equity Partners has signed off on a multi-billion-dollar deal. According to a news release, the private equity firm that has more than $100 billion in assets under management, has agreed to acquire Smartsheet— an enterprise platform for modern work management — alongside Blackstone for nearly $8.4B in an all-cash transaction. Per the agreement, the buyers would acquire all outstanding shares held by Smartsheet stockholders for $56.50 per share in cash once the proposed transaction is completed. “For more than a decade, we have built a thriving community of employees, partners, and customers, each focused on building and benefiting from Smartsheet’s industry-leading work management platform,” Mark Mader, CEO of Smartsheet, said in the press release. “Our next phase of growth and customer success is underway, and we look forward to partnering with Blackstone and Vista Equity Partners to accelerate our vision of modernizing work management for enterprises,...
When discussing trailblazers in the fintech space, Tanya Van Court is a name that is expected to come up in conversation. The Goalsetter founder has been working tirelessly as a leader to not only spread knowledge of the importance of financial literacy but also backing initiatives that directly support Black and brown communities. As previously reported by AfroTech, Goalsetter and Robert F. Smith launched One Stock. One Future. — an initiative to spearhead financial freedom for the next generation of Black and LatinX Americans. With the success behind her platform, Van Court is also no stranger to the whirlwind of a journey that attaining financial wellness can bring. After seeing her own fair share of how the lack of financial education can leave a devastating impact, she’s a believer that there’s still room to turn in the right direction toward the ultimate goal of financial freedom. “There is no shame in realizing that perhaps you aren’t as well equipped as you thought you were,...
It appears that another Black mogul is gearing up to possibly become the first Black majority owner of a National Football League (NFL) team. In January 2021, AfroTech previously shared that while the Denver Broncos going up for sale in the NFL offseason was initially pending, Robert F. Smith shared his interest in placing a bid on the team. By Feb. 1, the football team officially went up for sale — commencing the bidding war. Since then, a source close with Smith disclosed that the billionaire isn’t planning to make a purchase, according to Denver’s 9 News. “Robert’s priorities right now are on the fight for voting rights and economic justice rather than being…an owner of a team,’’ said the source. “He continues to be most focused on how he can best help underserved communities gain access to capital, healthcare, education, and the ballot box. Pursuing ownership of the Broncos is not on his radar right now.” With Smith reportedly stepping out of the possibility of making history,...
Billionaire Robert F. Smith could be making history in the near future. According to Bleacher Report, the Denver Broncos could be up for sale in the NFL offseason. If indeed, the Broncos go up for sale, Smith has expressed an interest in bidding on the team. The Broncos are reportedly worth $3.75 billion. “If Denver is put up for sale, it will likely be through an auction because it is under the Patrick D. Bowlen Trust,” reports the outlet, who added that the sale of the team would benefit the seven Bowlen children. What’s more, the outlet confirms that as part of the deal with the trust, the beneficiaries of the trust would have to honor the highest bid for the team. “If the team is put up for sale, a legal source familiar with the Broncos’ ownership transition told 9News that it would likely be through auction because the team is under the Patrick D. Bowlen Trust umbrella,” Denver’s 9News reported. “This means the trustees would have a fiduciary responsibility to the trust’s...
While non-fungible tokens (NFTs) bring historical moments to life in the digital space, NFL star Malcolm Jenkins is taking a step further into the future by creating opportunities toward generational wealth with his debut collection. On Nov. 18, the New Orleans Saints safety will release his NFT collection, “A Minted Legacy.” The three exclusive 1-of-1 NFTs are of pivotal moments in his 13-year NFL career, in which partial proceeds of one of the tokens will help in closing the racial wealth gap by creating more opportunities for Black and brown communities, according to a press release provided exclusively to AfroTech. View this post on Instagram A post shared by Malcolm Jenkins (@malcolmjenkins) The release of “A Minted Legacy” is ahead of the NFL showdown between the Saints and Philadelphia Eagles (Jenkins’ former team) on Nov. 21. The three NFTs represent personal significant moments for him during his time on the field. Jenkins pays homage to Philly with his first NFT titled...
Goalsetter is making sure the next generation of Black and Latinx Americans is free from the financial burdens that have held us back for so long! As previously reported by AfroTech, Vista Equity Partners’ Robert F. Smith and Goalsetter’s Tanya Van Court announced the “One Stock. One Future.” initiative in October 2021. The initiative served as a call to action for both organizations and corporations to build up young people of color and set them on a path to financial freedom. It kicked off after Smith gifted five shares of stock — equivalent to about 15,000 total shares — to nearly 3,000 students, educators and staff members at the Eagle Academies for Young Men, a network of public, all-boys schools serving young men of color in New York City and Newark, NJ, according to a press release. As this called for a celebration, those Black students, the Black Billionaire, Black tech entrepreneur, Black educator and young Black men from the Morehouse Class of 2019 all graced the NYSE...
When one thinks about the modern Hip-Hop industry, few artists — if any — have had the success of Curtis “50 Cent” Jackson. His infamous story of getting shot nine times — and surviving — has become part of a larger mythos that belies his success in nearly every aspect of the business he’s ever pursued. From being the head of his own record label to building a television and film empire, 50 Cent is in a class of his own. While many rappers have gone on to become actors — like LL Cool J, Will Smith, and Ice-T — few have stepped behind the camera and become successful at it. But 50 Cent did exactly that. When he re-launched the previously-defunct G-Unit Films, he partnered with a legend in the film and television industry, and subsequently created a whole new television series that has earned its place in the annals of history. Hit series “Power” and its subsequent spin-offs — which was followed up by “BMF” — are proof that the best advice the rapper got was advice he should have...
Throughout his career of nearly three decades, Usher and his philanthropic efforts have greatly supported disadvantaged communities. Today, Usher’s New Look (UNL) — the R&B legend’s nonprofit organization for under-resourced youth — has announced it has received a $500,000 grant from Truist Foundation. View this post on Instagram A post shared by Usher's New Look (@ushersnewlook) The grant will support UNL’s high school leadership program, including its financial literacy programs, according to a press release. “Breaking the cycle of poverty and debt is tantamount to the future success of young people, particularly in these challenging times where we see that there are currently 16 million children living in poverty today,” Careshia Moore , president and CEO of UNL, said in a press release. “This is, therefore, a proud moment for Usher’s New Look, and we are so very grateful to Truist Foundation for this transformational grant that will enable us to further our mission and touch the...
Mike Tyson’s love for cannabis has always been “loud” and proud. Now the heavyweight champion will have an opportunity to channel his passion into dollar signs with the debut of Tyson 2.0 in partnership with Columbia Care Inc., one of the nation’s largest cannabis distributors. Tyson will wear the hat of the company’s chief brand officer while the company will be led by co-founder and chairman Chan Bronstein and CEO Adam Wilks. “I got to know Mike as an entrepreneur and investor, and it was clear to me that his relationship with cannabis was a critical component in his own life. We saw an opportunity to create Tyson 2.0 and develop brands and products nationally,” says Bronstein in a press release. Mike Tyson credits cannabis as the saving grace in his then ongoing battle with substance abuse — which created a string of confrontations with the law — and credits the drug for alleviating his aggressive demeanor. At age 55, Tyson had a newfound confidence, ultimately leading to a...