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Master P and Snoop Dogg believe Walmart And Post Foods are stifling the success of their cereal venture. In a press conference held on Feb. 6, it was revealed the rappers-turned-businessmen have filed a lawsuit as a result of their belief that the “industry giants” allegedly colluded to impact Broadus Foods’ Snoop Cereal’s visibility on store shelves, a press release mentions. Several alleged grievances were mentioned including a breach of the implied covenant of good faith dealing, breach of contract, fraud, negligent misrepresentation, collusion and conspiracy, and aiding and abetting an infringement, among others. During the conference, a video displayed interested customers looking to purchase Snoop Cereal in Walmart stores. While navigating the cereal aisle, one customer who visited a Walmart in Long Beach, CA, Snoop Dogg’s hometown, discovered the brand was allegedly missing from the store shelves. Other snippets displayed customers with a similar discovery. After further...
A young athlete has secured a check for his talent before turning double digits. Ghalee Wadood Jr., a 9-year-old who plays for Snoop Dogg’s Youth Football League, inked a six-figure name, image, and likeness (NIL) deal with sports agency Family 4 Life — making him the youngest from the youth league to sign a contract — according to Los Angeles, CA-based KTLA-5, an affiliate of The CW Network. In addition to signing Wadood Jr., Family 4 Life represents NFL players from the New England Patriots, the San Francisco 49ers, and the New York Giants.
Snoop Dogg isn’t just a rapper. Now, he’s a label owner. The Internet is abuzz with the news of The Doggfather’s acquisition of Death Row Records, and it’s nothing if not a full-circle moment for the man who got his start on the influential — but controversial — label. But in 2021, it looked like the tide was turning that way anyway. The New York Post reported that Snoop Dogg was named as the executive creative and strategic consultant for the label. And this prompted the rap legend to tell Barstool Sports that he had his mind, set, ultimately, on owning the label itself. “I think all of Death Row should be in my hands,” he said. “ I should be running that s–t. Just like I’m [in] a position at Def Jam, Death Row means more to me because I helped create that.” Indeed, he did. Snoop — along with Dr. Dre — is now considered one of the forefathers of the West Coast G-Funk style of Hip-Hop. And while, certainly, things were contentious in the scene at its peak — the East Coast-West Coast...
Investment firms are a necessary part of the business world. But did you know that these celebrities helm up their own? From a tennis legend to several rappers, these twelve celebs are redefining what the names and faces of investment firms look like. No longer tied to “old-money white wealth” like Goldman Sachs, JPMorgan Chase, and Bank Of New York Mellon, these celebrities have proven that investments made back into the Black community pay off in much larger dividends…and cultivate goodwill in the long run. For example, Karan Wadhera — the managing partner for Snoop Dogg’s Casa Verde — even left his position in the “traditional” investment firm world to work with the legendary Doggfather on his venture. He told TechCrunch that he was driven to do so to shift people’s focus onto things that weren’t getting enough attention at the time (in Casa Verde’s case, Black ownership and cannabis investment). “We have a decent-size checkbook and a fairly high profile in this space, so we see...
Snoop Dogg has built a history of being instrumental in the cannabis industry, and his latest investment helped in doubling the value of a cannabis startup. Bloomberg reports that Snoop’s venture capital (VC) firm, Casa Verde Capital participated in a Series D funding round of $350 million for Dutchie — a technology platform for cannabis dispensaries. The tech firm’s valuation is now $3.75 billion. The round was led by D1 Capital Partners and other participants included Tiger Global, DFJ Growth, Dragoneer, Gron Ventures and Thrive Capital, according to Bloomberg. The new funding comes in seven months after Dutchie raised $200 million, which brought their value to $1.7 billion. Now the tech platform’s value has doubled in less than a year. As previously reported by AfroTech, Casa Verde Capital has served as a leading VC firm in providing cannabis startups with funding. The VC firm has an extensive portfolio, and Dutchie is one of its prized investments. Its backed Dutchie since 2018...
Emory University is taking things to the next level with the first student-run venture capital (VC) fund. The Peachtree Minority Venture Fund (PMVF) was launched at The Roberto C. Goizueta Center for Entrepreneurship and Innovation at Emory University’s Goizueta Business School (GBS) to support Black, LatinX, and Native American entrepreneurs. This is the first VC fund to have a focus that is strictly dedicated to underrepresented minority founders and will be funded by the Goizueta Business School endowment. Currently, the fund has $1 million in assets that are currently under management, and students are responsible for souring companies, conducting due diligence and making investment recommendations to the Peachtree Investment Committee. The committee — made up of GBS faculty, staff and alumni — utilizes an “evergreen” structure, which means that they recycle all proceeds to be used for reinvestment. “Peachtree Minority Venture Fund will invest in companies that have at least one...
A Hip-Hop legend has been secretly living a double life. Cozomo de’ Medici — a non-fungible (NFT) Twitter platform — has rose to popularity collecting fans and conjuring a crypto collection boasting 175 tokens valuing millions of dollars since its debut in August of last year, Tech Times reports. On Monday, Snoop Dogg shocked Twitter users when he revealed he’s actually the face behind Cozomo de’ Medici. Of course, this sent Twitter users into a frenzy. “Dear frens,” a tweet read via the Cozomo de’ Medici profile. “ Since I announced my dox, events have transpired most would not believe, nor understand. What I can share is I’ve received an outpouring of kindness here on twitter. And many say they prefer to know me as Cozomo, and no one else! So here is what I’ve decided to do: Shortly, as promised, I will dox from my personal account. As my fame is considerable, the tweet will no doubt be discovered. Those who are curious to my identity will soon know it.” Dear frens, Since I...
Idris Elba is proposing a new solution to help cut down on cyberbullying and racial rhetoric online for social media users. This past Sunday (July 18), the actor took to Instagram to issue a statement calling for more strict verification measures across social media platforms. His protest was made in an effort to combat online racism and crude comments from internet trolls to better hold them accountable. “People in the public eye get verified on social media. The process of verification requires them to prove their IDENTITY, so everyone knows WHO is speaking,” he wrote in a post. “SOCIAL MEDIA COMPANIES SHOULD MAKE THIS MANDATORY FOR ALL USERS.” He went on to compare the current practice of allowing non-verified accounts to exist on social media platforms to the same protocol of “boarding a plane and not having to show I.D.” “If cowards are being supported by a veil of privacy and secrecy, then social media is not a safe place,” he continued in his statement. “It is an aeroplane...
Snoop Dogg rides for his! According to a press release, the West Coast rapper born, Calvin Cordozar Broadus Jr., has appointed his wife, Shante Broadus as his new manager. She will expand her husband’s existing ventures and will help to grow the upcoming partnerships that Snoop has in the works. Shante will also use her expertise to oversee the media side of Snoop’s diGGital doGG empire which includes animation, apps, and video games. The couple will celebrate 24 years of marriage this upcoming Saturday (June 12), and now they’ll celebrate a new partnership in their lives. “I have been by Snoop’s side for over two decades, so together with the rest of the team, our goal is to strengthen Snoop’s legacy as a brand with the loyalty and trust of our guidance that has made Snoop who he is today,” said Shante in an official statement. First up on Shante’s plate is to take the lead on the “Beautiful” rapper’s projects which include Mt. Westmore Snoopermarket, the Snoop Youth Football...
Now that marijuana is finally becoming legalized in several states across the United States, the cannabis industry is booming at a rapid rate — and celebrities are getting in on the fun too. Over the last couple of months, we’ve seen a huge uptick in Black and brown entrepreneurs who have tried their hand at entering the weed marketplace in an effort to further diversify the industry. With this in mind, many Black celebrities are also cashing into the lucrative business and have even established initiatives to help other aspiring Black entrepreneurs finally capitalize off a system that has fought tooth and nail to criminalize them for what’s now considered very legal. Check out the celebrities who have successfully dived into the cannabis industry below: Jay-Z Hip Hop legend and esteemed businessman Jay-Z has always been a supporter of Black liberation and entrepreneurship. This is why he’s gotten so involved in the cannabis industry through the launch of his own brand, Monogram,...
All Def Cannabis is here, just in time for 4/20! Interestingly, the origin of the term “4/20” isn’t what you may think. Despite the belief that its origins lie in California Senate Bill 420 (which was passed in 2003), its real origins are found in the 1970s in San Rafael, CA, where a group of teenage stoners (called The Waldos) would meet at 4:20 p.m. to consume marijuana. When a story about The Waldos appeared in “High Times” magazine, “4/20” culture spread like wildfire, and today, it’s considered the near-universal sign for consumption of cannabis. In a press release announcement, it was revealed that All Def Digital — a digital media company founded by Russell Simmons, which is now owned by Culture Genesis — has marked the announcement with the release of several different cannabis-based channels. First, All Def Cannabis is celebrating the release of the “Couch Locked” 420 Comedy Show. This show, co-created by rapper and cannabis entrepreneur Berner, features Michael Blackson...
The topic of Hip-Hop and money have always gone hand in hand. Initially, rappers were seen as financially irresponsible and victims of shady record deals that often left them in a sea of debt. However, in the past decade or so more and more artists have assailed to financial freedom by venturing into fintech. Snoop Dogg is one of the latest rappers benefiting from making successful investments. According to Crunchbase, the 49-year-old LA native has investments in both of today’s most valuable startups, Klarna and Robinhood, and did so at a price way lower than its current valuation. Klarna, a financial risk management company, is Europe’s most successful startup allowing users to make break up payments with no interest. And Robinhood is a free trading platform with a growing membership rate and a near $40 billion IPO. Snoop Dogg’s investment portfolio dates back to as early as 2010, according to Crunchbase. In 2014, he was a part of a Series B for Reddit which is now valued at $6...
Snoop Dogg’s investment fund, Casa Verde Capital, has closed on $100 million for its second investment fund, reports TechCrunch. Following a decline in the cannabis industry last year, the market has bounced back, making way for funds like Dogg’s (born Calvin Broadus) to expand and help scale cannabis-related businesses. “Sitting here today, four-plus months into COVID, cannabis has really proved itself to be a non-cyclical industry. Cannabis has been deemed an essential business everywhere across the U.S. We had record sales in March, April and May, and the trend has continued,” Casa Verde Capital managing director, Karan Wadhera told TechCrunch in July. “And now that we are getting into an environment where governments are going to be looking for additional sources of tax revenue, the potential urgency around cannabis legalization is going to be there, which is going to be massively positive for the industry.” Casa Verde’s portfolio is now worth at least $200 million, and its...