Will.i.am is immersing himself further in the media landscape. According to a press release, he has joined Jarret Myer and Rich Antoniello in forming Uproxx Studios. It is described as a brand solutions studio led by influential leaders in media and music who will consider culture and push it forward. The new entity has been established following the acquisition of Uproxx, HipHopDX, Dime Magazine, and other major media assets from Warner Music Group (WMG), such as the exclusive license to represent its YouTube content. Looking ahead, Uproxx Studios and WMG will remain in collaboration to guarantee seamless execution for their partners. Antoniello, partner and executive chairman of Uproxx Studios as well as founder and ex-CEO of Complex Network, commented, “This is a game-changer. We’re merging the agility and freedom of an independent entity with the reach and resources of a major music label. This is the recipe for groundbreaking content and unparalleled brand experiences.” Uproxx...
UPROXX, an entertainment and pop culture news site known for having a young, digital audience and expanding into Snapchat original series’ such as F That With Vince Staples or the Emmy-nominated basketball docu-series Us Against The World, was recently acquired by Warner Music Group. “Over the past years, we’ve won the trust of our audience, along with numerous industry accolades, because of our understanding of culture, entertainment, and marketing – an approach that’s rooted in authenticity and transparency,” said UPROXX CEO Benjamin Blank in a statement. “With Warner Music Group, we just doubled down on that formula and are now able to deliver more to our audience and partners with even more access and at much bigger scale.” Blank will continue to run the platform as CEO and Chief Creative alongside publisher Jarret Myer. This acquisition follows the news earlier this year that WMG purchased Songkick, a concert discovery app. “With this acquisition, we grow our significance as a...
Ismail Ahmed, who is behind the first Black-founded fintech company to reach unicorn status in the U.K., has secured additional funding, Bloomberg reports. In 2009, Ahmed launched Zepz, formerly WorldRemit, and was inspired by the high transaction fees from sending his loved ones money to East Africa. The venture also followed his experience working on a transfer project as part of the United Nations Development Programme, which led him to discover corruption in the UN’s Somalia remittance programme, The Guardian mentions. “My boss said if I went and submitted the dossier, I would never be able to work in remittances again, and I took that threat very seriously. I lost my job to uncover the fraud,” he told the outlet. While working through the legal case, Ahmed decided to attend London Business School, a move that would provide him with the blueprint for the company — originally called AfricaRemit. Furthermore, he would receive a financial award for his mistreatment as a result of...
Pioneer Opal Lee has received the keys to her new home. As AFROTECH™ previously reported, in 1939, 12-year-old Lee along with her family were removed from their home in Fort Worth, TX, by a racist white mob. “Just to know that there might be children that we could have played with, that we might have known their families,” Lee told CBS News Texas. “We just wanted to be good neighbors, that’s all.” The outlet also notes Lee never lost hope that she would one day own that very land. Her wishes would come true in January 2024 when she received a homecoming and a cquired ownership of the land that was stripped from her family. Building on this milestone, a home was recently constructed for Lee on the property, and she has received the keys to her new home. She was given the property for $10 thanks to North Texas organizations such as Trinity Habitat for Humanity and Texas Capital. Additionally, HistoryMaker Homes is credited for building the home free of charge, and JCPenney aided to...
Uncle Nearest’s presence in the spirits sector continues to rise. The whiskey company, established in 2016 by Fawn Weaver to honor Nathan “Nearest” Green, a formerly enslaved man who taught Jack Daniel how to make whiskey, has scaled into 30,000 stores, bars, hotels, and restaurant s in 12 countries, as AFROTECH™ previously reported. In its latest report, Bloomberg notes Weaver aspires to own a larger share of the spirits market. This stance has motivated the company to purchase vodka maker Square One Organic Spirits. Additionally, she mentions a settled legal dispute between Diageo Plc and Sean “Diddy” Combs concerning his vodka brand as a contributing factor for her latest acquisition, noting a void in the market and the importance of having a Black-owned vodka occupy space. The market is heavily dominated by major players such as Diageo PLC and LVMH, with valuations totaling nearly $79 billion and $423 billion, respectively, the outlet mentions. Uncle Nearest continues to gain a...
While working in the music industry, many artists make the smart move and don’t limit themselves to only excelling in music. Will.i.am is among such musicians who are the definition of “multi-hyphenate.” As an entertainer, record producer, tech entrepreneur, and founder, the East Los Angeles, CA, native has built an extensive resume for himself. “Investor” is yet another title under his growing list of endeavors. In an interview with the “Drink Champs” podcast, Will.i.am recounted two specific investments he’s made thus far. When asked by host N.O.R.E. whether he’d choose Steve Jobs or Elon Musk — like in a game of “This or That” — Will.i.am was prompted to share how both CEOs have made an impact on his life. “I invested in Tesla in 2006 before Elon took over [the company] — around the same time,” Will.i.am explained on the podcast. He continued, “And then, I was a part of Beats. And then, Apple bought Beats from us. So you’re talking about two companies that changed my life. So, I...
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...
Kanye West is convinced he will recover his losses from the severed Adidas partnership. As AFROTECH™ previously told you, the apparel giant severed its ties with the rapper and record producer in 2022 due to antisemitic remarks West made at the time. As a result, Adidas paused the production of all Yeezy-branded products and froze payments to West and his companies. “Adidas does not tolerate antisemitism and any other sort of hate speech. Ye’s recent comments and actions have been unacceptable, hateful, and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect, and fairness,” the company declared in a press release . “After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products, and stop all payments to Ye and his companies. Adidas will stop the Adidas Yeezy business with immediate effect.” In May 2023, Adidas softened its posture, announcing the company...
Offset owes a car rental company money — and a lot of it. Uproxx reports that the Migos rapper was recently ordered to pay more than $950,000 for a Bentley that he allegedly rented from a luxury auto rental company in Los Angeles — which was subsequently stolen. For what it’s worth, the value of the Bentley in question is roughly $177,000 — and it’s the demand for more than five times the value of the car that has Offset up in arms. What’s more, the outlet reports that he didn’t even know about the judgment until the entertainment lawyers for his wife — Cardi B — went down to the Superior Court in Los Angeles and obtained the paperwork. He further claims that the reason he didn’t get the paperwork had nothing to do with his desire to “ignore” the lawsuit, and everything to do with the fact that the attorneys for the auto rental company mailed the paperwork to his father’s address — where he hadn’t lived for quite some time. And if all that wasn’t enough, Offset further claims that...
Vince Staples is venturing into new territory! According to Pitchfork, he has penned a graphic novel, “Limbo Beach,” which has an anticipated release date of December 2021. The book is currently underway in partnership with Bryan Edward Hill, the author of “Batman & the Outsiders” and “Titan,” Chris Robinson of “Children of the Atom,” and Buster Moody of “Teenage Mutant Ninja Turtles.” “Every kid has the same story. Wash up on shore. Enter the amusement park. Get superpowers. Why are you so different?” reads the book’s summary. “Join fan-favorite rapper Vince Staples, Bryan Edward Hill, Chris Robinson, and Buster Moody on an adventure into the mysterious Limbo Beach, an island theme park ruled by adolescents with unique abilities! Follow the newest member of the Wunderlosts, a band of misfit teenage raiders, on a journey to discover the truth about the park—and himself—in a tale that is equal parts Lord of the Flies and The Warriors.” “’Limbo Beach’ is the story of lost children...