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The fashion industry is a massive global market that relies on consumer demand to shape trends and production. Every purchase a consumer makes influences how fashion brands operate, from luxury houses like Dior to fast fashion retailers like SHEIN . Consumer responsibility plays a major role in the ethical, environmental and labor aspects of the fashion industry. Trends change quickly, and consumers are always looking for the next big style. Social media and celebrity culture drive these shifts, making people want to buy new clothes frequently. For fast fashion this means the priority is to create low-cost, trendy clothing at a rapid pace. Companies like Zara, H&M and Forever 21 design and produce new styles in just weeks, while SHEIN keeps a stable of designers on hand to release new looks daily. This ensures that customers always have something new to buy . However, this system comes with significant consequences. The Environmental Impact Of Fast Fashion (Fernand De...
Almost everyone is familiar with the mermaid branded barista coffee chain offering a premium brew with faux Italian charm. Founded in 1971 in Seattle, Starbucks Coffee has long since been an international sensation. From humble beginnings at its flagship store in Pike Place (the first Starbucks location), to outposts in far-flung locales around the world, almost everyone is familiar with Starbucks. Today, Starbucks boasts over 38,000 locations serving more than 80 countries with its signature brews and even customized treats unique to the cultural tastes of each region. From airports to hotels, dabbling in the venture capital world , and even consumer packaged goods for coffee lovers to enjoy favorite items at home, there’s no stopping this iconic brand. And this leads to the inevitable question, just how much is Starbucks’ net worth — or in the case of a business, market cap? Humble Beginnings Starbucks Coffee logo is seen in Manhattan, New York, United States of America, on July...
Will Drewery previously worked with Tesla and now works for himself through his own technology company. From Tesla To Building His Own Technology Company Silicon Valley Business Journal reports Drewery worked with Tesla in 2013. Among his contributions to the company includes sourcing $3.5 billion in equipment to its plants based in Fremont, CA, and Buffalo, NY, over a five-year period. TechCrunch mentioned the delivery, testing, and installation of equipment was a process that could often take months or even a few years for companies that lacked the team members or tools. “This is why I felt the market needs a Diagon,” Drewery told TechCrunch. He later transitioned to work for Astra and recognized discrepancies in the market that would lead him to launch his own company, Diagon Technologies. What he recognized were issues with the sale of manufacturing equipment — including satellites, rockets, batteries and semiconductors — from some other countries due to national-security...
With the 2024 presidential election right around the corner, we are going to take a look at how the two candidates take drastically different stances on tech. Both Vice President Kamala Harris and former President Donald Trump have supported policies that would impact how the tech industry can or cannot do business for years to come. Kamala Harris’ Impact On The Tech Industry During her time as vice president of the United States, Harris backed three key pieces of legislation that have impacted the tech industry. They are the Bipartisan Infrastructure Bill, the Inflation Reduction Act, and the CHIPS and Science Act. All of these acts were meant to spur different forms of economic growth here in the United States and bolster our own productivity vs. relying on foreign powers. The Bipartisan Infrastructure Bill in 2021 invested money into two categories of interest to founders and investors: energy and climate. In energy, some of the more notable companies would be the larger...
You likely know Boosie Badazz from his string of viral interviews on outlets such as DJ Vlad, his myriad of controversial takes on the modern field of hip hop, or from his catalog of hit records that span over 20 years of releases. Through the years, he has gone by a number of different monikers, including Lil Boosie, and has faced numerous trials and tribulations . Despite all of his public and private missteps, Boosie is said to have a net worth of $2 million in 2024, per Celebrity Net Worth . This nest egg may not measure up to some of Boosie’s contemporaries, though it still displays an impressive financial acumen, as the vocalist has seen his fair share of nearly career-ending controversies . So, let’s take a look at Boosie Badazz’s net worth, and see what we can learn from his successes, his failures, and his spending and investment habits. Most of his money likely comes from record sales, feature verses, and additional ventures such as the release of his own streetwear line....
Black entrepreneurs are consistently creating innovative brands that are disrupting the standard traditions of industries, and Nicole Gibbons — founder and CEO of Clare — is one of them. Leading what’s said to be the only Black-owned paint brand in the U.S., the interior designer has spearheaded simplifying the process of paint shopping through technology. Founded in 2018, Clare has found success within the paint industry and has received co-signs from the celebrity likes of Taraji P. Henson, who has previously highlighted it as one of her favorite Black-owned businesses. View this post on Instagram A post shared by taraji p henson (@tarajiphenson) In its latest feat, Clare has announced an $8 million Series A funding round led by Pendulum, a newly formed growth-stage fund, according to a press release shared with AfroTech. “We are excited to lead Clare’s Series A and play a role in powering the company’s next stage of growth,” said Ron Mackey, managing director at Pendulum....
ComplYant is here to help small businesses with their tax needs. And thanks to a recent seed funding round, they’re able to help now more than ever. In a press release announcement, it was revealed that the company closed a seed funding round of $5.5 million led by Craft Ventures with participation from Mucker Capital, Slauson & Co., and Techstars. ComplYant was founded by Grid 110 and Techstars alum Shiloh Johnson. There are more than 31 million small businesses in the United States, and they pay billions in tax penalties every year for filing forms or making payments late. Some businesses just forget while others don’t understand enough about the taxes they owe to know that they owe them. ComplYant’s digital platform solves this problem by streamlining workflow, providing a savings wallet for taxes, and allowing accountants to collaborate with client accounts – all right in your browser. Using ComplYant, U.S. small business owners easily manage and take charge of income tax, sales...
There are a plethora of ways to help empower others, and Black entrepreneur Tera Carissa Hodges has created a way that’s both sentimental and personal. The empowerment coach teamed up with Culture Greetings, a female and Black-owned greeting card brand, to empower women, according to Black News. Hodges’ collaboration is an example of how holidays and celebrations shouldn’t be the only time to show love to those around you. The 10 greeting cards within the brand’s breakthrough and empowerment line revolve around trials and tribulations such as breakups and job loss — tough times where one needs support most. “I help people heal from their past by embracing their past and pain and seeing it as purposeful. Everyone has made mistakes, been lied to, endured unfair treatment, etc. But, when you own your story, your story can never own you,” the Black entrepreneur shared. Culture Greetings’ customers can pick a card online and customize it with a personalized message. The cards will then...
Black History Month is starting off right with the latest funding coming in for Historically Black Colleges and Universities (HBCUs). The Grio reports that 27 HBCUs have been awarded $20 million in faculty research grants and scholarships from the Thurgood Marshall College Fund-Novartis US Foundation HBCU Alliance. The funding for faculty research grants stems from the collaborative effort that launched in 2021 as a 10-year initiative aiming to “achieve a paradigm shift over time to address longstanding, endemic, and historically based disparities.” According to the outlet, the grants will be distributed in an effort to help improve health disparities within the Black community.
Innovative partnerships have been piling up already in 2022 for Historically Black Colleges and Universities (HBCUs). Today, FedEx has announced a new program designed “to build a pipeline of logistics and supply chain professionals.” CNBC reports that the company will be partnering with eight HBCUs for the program, which is an extension of its ongoing commitment that was established in 2021. “Our relationship with HBCUs began more than 20 years ago, and we are continuously working to develop initiatives and opportunities that create positive outcomes for students and faculty. The Student Ambassador Program is yet another way we are continuing to invest in these historical institutions as we build a better future, together,” FedEx President and Chief Operating Officer Raj Subramaniam told CNBC.
Lack of accessibility to essentials for everyday living is often the story behind the downfall of systems around the globe. For instance, Nigeria is the home of some of the world’s brightest minds, but significant setbacks include its healthcare system, which impedes its citizens from seeking to live fruitful lives. However, healthcare should be a human right, and this is what pushed DrugStoc co-founders Chibuzo Opara and Adham Yehia to create what is now Africa’s leading health tech platform. Their platform serves as a tech-enabled solution that combats the continent’s broken pharmaceutical supply chains through connecting drug store companies with hospitals and pharmacies in Nigeria. Before launching DrugStoc, Opara and Yehia founded Integra Health, a hospital management company, which paved the way for their discovery of how tech could break barriers within the pharmaceutical market. “It was quite a black box what tech could do,” Yehia told AfroTech. “We came from the health...
Sote, an African supply chain-focused company, has announced its recent round of funding. In a press release announcement provided to AfroTech, it was revealed that the company — which launched the “continent’s first licensed tech-enabled customs clearing and forwarding service“ — raised an additional $4 million in its seed funding extension round. The funding, which was led by Social Capital , Chamath Palihapitiya’s fund, brought Sote’s total fundraising efforts to $8 million. In addition to the African supply chain-focused company completing the funding round, it also placed Ray Ko, the growth partner, on its board. Other participating financiers include Harry Hurst, Founder/CEO at Pipe; MaC Venture Capital “doubling down,” per the press release; and K50 ventures. “Sote has always been about the people. A group of passionate individuals driven to build the future of Africa. We’re excited about bringing Samora and John under one roof with our Logistics and Engineering teams to...
McDonald’s is setting new diversity goals with its largest suppliers. According to a report from Bloomberg, the world’s biggest restaurant chain by sales is making a pledge to diversify its supply chain by committing roughly 25 percent — or $3.5 billion — of the company’s annual domestic supply-chain spending to minority and women-owned suppliers by the year 2025. “Throughout my career, I have historically seen supplier diversity viewed as a social program grounded in doing ‘the right thing,'” Reggie Miller — Chief Diversity, Inclusion, & Equity Officer at McDonald’s — said in a statement. “Today, however, consumers have greater access to information about the brands they purchase from. They want to support brands they can trust.” “When we refreshed our global DEI strategy last year, we knew supplier diversity needed to be a central principle,” he continued. “We knew this was key to ensuring we generate innovative products and services, increase competition, and build economic...
Gokada , an app based in Nigeria, has announced its expansion plans. According to TechCrunch , the company, launched in 2018 in Lagos as a ride-hailing service, expanded its offerings to provide a variety of logistics solutions and food delivery services. This move came after the Lagos State government banned ride-hailing platforms, which of course negatively impacted Gokada’s bottom line. Now, with CEO Nikhil Goel at the helm, who took over following the death of late founder Fahim Saleh , the company is combining all of its services, from ride-sharing to logistics, into one single app. This move will make it a “super app” and a top contender in the fickle Nigerian market. Photo Credit: Gokada / Instagram “In September and October, we launched GShop which is the food delivery platform for Gokada. What we realized from our customers was that while they were using the Gsend and GShop separately, they came to us asking if we could put them together,” Goel said to TechCrunch. “So...