Showing 26 results for:

venture-capital-firm

All results

26
Creating An Environment Of Antidiscrimination In The Modern Workplace

The modern workplace is evolving, yet discrimination remains a persistent issue despite growing efforts to create a more diverse and inclusive work culture . Anti-discrimination policies exist to protect employees from unfair treatment based on race, gender, age, disability, religion, sexual orientation, and other factors. However, recent data suggests that these policies alone are not enough to prevent bias in hiring, promotions, and workplace interactions. In Fiscal Year 2022, the U.S. Equal Employment Opportunity Commission (EEOC) received 73,485 new discrimination charges—an alarming 20% increase from the previous year. Additionally, 61% of employees in the United States say they have witnessed workplace discrimination, signaling that many workplaces still struggle to enforce fair practices. Antidiscrimination in the modern workplace isn’t just nice to have – it’s a must. Discrimination in employment takes many forms. Retaliation is the most common complaint, making up nearly...

Mar 6, 2025

Op-Ed: When Did 'DEI' Become Synonymous With 'Under-Qualified?'

Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. The meaning of words changes over time and often shifts based on who is using them and why. One example that comes to mind is the word “Woke.” In the context of social justice, “woke” was used as early as the 1920s by Marcus Garvey in his article “Wake Up Ethiopia! Wake Up Africa!” where he urged Black people to become more politically and socially aware. The phrase “Stay Woke,” which we are more familiar with, became widely known during the civil rights movement of the 1960s. Originally intended to promote social and political awareness among Black people, the term has since been co-opted by others as a negative label. Today, “woke” is often used in a derogatory way to criticize liberal ideologies or actions. “Woke” isn’t the only term that has undergone a shift in meaning. The phrase Diversity, Equity & Inclusion (DEI), which traces its origins back to affirmative action , has also evolved. When...

Feb 26, 2025

Starbucks’ DEI Policies Led To ‘More Female And Less White’ Workforce, Lawsuit Says

Starbucks is at the center of a lawsuit for alleged discrimination related to its diversity, equity, and inclusion (DEI) policies . On Tuesday, Feb. 11, 2025, Missouri Attorney General Andrew Bailey, a Republican, filed a lawsuit claiming that the Seattle, WA-based coffee chain enforces “race-and-sex-based hiring practices” and unlawfully segregates employees in violation of anti-discrimination laws, according to a news release. Since taking office for a second term on Jan. 20, 2025, President Donald Trump has signed several executive orders to dismantle federal DEI initiatives. “As Attorney General, I have a responsibility to protect Missourians from a company that actively engages in systemic race and sex discrimination,” Bailey said. “Racism has no place in Missouri. We’re filing suit to halt this blatant violation of the Missouri Human Rights Act in its tracks.” Bailey said the initiatives have led to a “more female and less white” workforce and forced Missouri consumers to “pay...

Feb 13, 2025

Giannis Antetokounmpo Participates In $13M Series A Round For AI-Powered Sports Media Management Company

Giannis Antetokounmpo is expanding his portfolio with a new investment tied to sports. Sportico reports the Milwaukee Bucks superstar is an investor in ScorePlay, an artificial intelligence -powered sports media management platform launched by Victorien Tixier (CEO) and Xavier Green (CTO) in 2021. Its solutions streamline sports organizations’ essential digital workflows by automating the management of photos and short video clips, its website mentions. Features among all its tiers include: Automated ingestion of photos and short videos Unlimitied AI tagging Usage analytics “The idea is to maximize the distribution, both on your own social channel, but also distributing the content to your athletes, who are your best storytellers,” Tixier told CNBC. ScorePlay had already attracted the attention of Kevin Durant and Rich Kleiman’s 35V family office, as well as Eli Manning, notes the outlet. Most recently, it has closed a $13 million Series A round led by Harry Stebbings’ 20VC, which...

Feb 12, 2025

Mark Cuban Makes Another Investment In Black-Led Edtech Company Beanstack

Black-owned edtech company Beanstack has secured another investment from Mark Cuban. The platform was launched in 2013 by Felix Brandon Lloyd (CEO) and Jordan Lloyd Booke, a husband-and-wife duo with extensive backgrounds in education. Booke served as Google’s head of K-12 education outreach from 2011 to 2013, while Lloyd worked as a teacher and dean at the SEED Public Charter School for seven years. The idea for Beanstack was sparked while they were reading to their 2-year-old son, inspiring them to focus on increasing literacy rates. “The early idea for our company came one night when [me and Jordan] were reading a book to our 2-year-old son and soon-to-be big brother,” Lloyd told AFROTECH™ in a previous interview. “He pointed to biracial characters on the page that looked like him and said, ‘That’s me, and that’s little sister.’ The power of reading was so clear. We immediately decided to put our backgrounds in education to work on a new business idea.” Beanstack initially...

Jan 23, 2025

'Bring Them On:' JPMorgan Chase CEO Remains Committed To DEI Values Despite Pressure From Shareholders

JPMorgan Chase CEO Jamie Dimon is not backing down from diversity, equity, and inclusion (DEI) commitments. According to Business Insider, Dimon confirmed that the financial services firm will continue to advance its DEI efforts and environmental, social, and corporate governance (ESG) policies despite pressure from the National Legal and Policy Center (NLPC), a conservative nonprofit organization. The NLPC has proposed that JPMorgan reevaluate how executive compensation is linked to the company’s racial equity goal. “Bring them on,” Dimon told CNBC at the World Economic Forum in Davos, Switzerland. “We are going to continue to reach out to the Black community, the Hispanic community, the LGBT community , the veterans community.” In 2020, JPMorgan launched a $30 billion program to promote racial equity in personal finance, which included mortgage refinancing and partnerships with Historically Black Colleges and Universities . The bank also launched an “accountability framework” to...

Jan 23, 2025

HBCU Alums Terry Comer, Khalil Thompson Raise $2.25M In Seed Round For College Sports Collectible Platform Giving Back To Players Through NIL

HBCU graduates Terry Comer and Khalil Thompson have secured new funding for their work in the NIL space. In 2021, the pair, who had an interest in college sports, united to launch NIL FanBox, marketed as the only “university-approved, player-endorsed recurring collectibles platform.” It works by sending sports fans 100% authenticated collectibles from their favorite college athletes. Its website mentions that the curated box includes three to five signed collectibles, a “Golden Ticket,” exclusive player merchandise, and digital authentication. One of its partnerships, with The University of Texas at Austin, resulted in the Longhorn FanBox, which is valued at $199 each football season and energizes fans by including “ultra-rare” collectibles and “behind the moment” interviews. Photo Credit: NIL FanBox While NIL FanBox certainly benefits fans, it also supports athletes by allocating a portion of its revenue back to them. NIL FanBox returns more than 30% of its revenue to participating...

Jan 14, 2025

Isaac Hayes III's Fanbase Raises Over $5.2M Via Crowdfunding As It Climbs To The Top 10 On The App Store Amid Potential TikTok Ban

Fanbase, founded in 2018 by Isaac Hayes III, is rapidly climbing the charts in the App Store. The Atlanta, GA-based social media company allows users to not only create content but also get paid through various mediums, including video, photos, audio, and stories, its website mentions. Additionally, through subscriptions valued from $2.99 to $99.99, users can further support creators in exchange for exclusive content. “For people who value content and community, Fanbase is a free-to-download, free-to-use, next-generation social network that allows any user to earn money from day one,” the company website reads. Moreover, users not only have a chance to participate in Fanbase but can also opt-in to become an investor. For a minimum amount of $399, users make an investment that will be “speculative, illiquid, and involves a high degree of risk , including the possible loss of your entire investment.” “I’m the only Black-founded start-up social media app that’s currently in existence...

Jan 13, 2025

'Shark Tank' Investor Daymond John Explains Why He Believes 'You Don’t Need Money' To Make Money

Daymond John is dispelling some traditional truths told in the business world. John is a serial investor and “Shark Tank” judge who made his mark through his streetwear brand FUBU. The brand, founded in 1992 by O’Leary and his friends Alexander Martin, Keith Perrin, and Carlton Brown, was launched from his mother’s home with an initial investment of just $40, as previously reported by AFROTECH™. “I didn’t start with a leap, and I think that’s important to know. I started with $40,” John told the Truckload Authority. “I bought some material and made a bunch of hats. I went out on the street to see if I could sell them. That’s not a leap. It was a small, affordable step. Entrepreneurship isn’t an ‘all or nothing’ thing. You can and should wade into it. I can’t say where I would have been if I didn’t start FUBU, but I know I would have kept trying things.” FUBU received an early boost when John’s mother invested $100,000 from her mortgage to support the brand’s growth. While working to...

Jan 10, 2025

Dawn Staley, The Top-Paid Black Head Coach In NCAA Women's Basketball, Invests In A League With The Highest Average Salaries In Women’s Sports History

Dawn Staley continues to offer a guiding hand to basketball star Aliyah Boston. The pair first teamed up at The University of South Carolina. Staley serves as the school’s head coach of women’s basketball and is currently signed to a historic seven-year contract that has made her the highest-paid head coach in NCAA Women’s Basketball, as AFROTECH™ previously reported. Boston played under Staley’s leadership from 2019 to 2023. Together, they won one national titles against the University of Connecticut in 2022, notes NBC-10 Philadelphia. Boston’s collegiate career would position her as the school’s all-time leader in overall rebounds, offensive and defensive rebounds, blocked shots in SEC games, double-doubles, and triple-doubles, among others, according to the WNBA. She is also a four-time SEC Defensive Player of the Year, two-time National Player of the Year, and two-time SEC Player of the Year. Throughout it all, Staley has remained front and center as a fan even as Boston...

Jan 8, 2025

Coco Gauff Joins Investor Group Of Women's Basketball League Unrivaled

Coco Gauff has invested in women’s basketball. Unrivaled is a 3-on-3 basketball league announced in 2023 and founded by WNBA stars Napheesa Collier and Breanna Stewart. Each player participating in its first season was granted equity in the league, setting a precedence in sports. “For years, women have relied heavily on off-court sponsorships for a majority of their income,” Stewart said in a press release shared with AFROTECH™ . “With Unrivaled , we’re revolutionizing the game by prioritizing investments in our stars and ensuring their on-court performance is reflected in their pay.” Collier added: “With the growing popularity of women’s basketball and the WNBA, this is an opportunity for us to extend our visibility into the traditional basketball season. Breanna and I set out to create a league that would change the way women’s sports are viewed and ultimately how sports leagues operate. We may have had the vision, but this isn’t just our league – it belongs to the players, and...

Jan 7, 2025

VC Firm Founder Sues PayPal, Claims Racial Discrimination Led To Her Exclusion From The Company's $530M Investment Commitment

A venture capital firm founder has launched a lawsuit against PayPal, alleging that the company’s diversity and equity program excluded her because she is Asian. Nisha Desai, the founder of Andav Capital, claims she applied for consideration in a $530 million financial commitment PayPal announced in 2020 to support Black- and minority-owned businesses , TechCrunch reported. However, she asserts that she was overlooked due to her Asian heritage, as the program primarily focused on supporting Black- and Hispanic-led enterprises. “Funds majority-owned by individuals of other races, including Asian Americans, are not given equal consideration,” Desai stated in the New York lawsuit, per the outlet. “Worse, PayPal and its senior management have repeatedly trumpeted the program’s focus on race, bragging in statements and press releases that PayPal’s program is for some races and ethnicities and not others.” Desai claims that PayPal has violated Section 1981 of the Civil Rights Act of 1866,...

Jan 6, 2025

Op-Ed: Can Corporate DEI Survive A Second Donald Trump Presidency Term?

Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. Corporate companies have gutted and targeted diversity, equity, and inclusion (DEI) programs throughout 2024. As we head into 2025, efforts to reverse these changes will only increase. DEI programs have been the center of several political battles since Republicans wrongfully came to attack critical race theory. Just as conservatives have a woeful misunderstanding of critical race theory and where it applies, DEI has become a buzzword associated with the aforementioned cultural wars. What Is DEI? DEI initiatives are implemented in schools, businesses, and government agencies to address inequities within historically marginalized groups. According to Erica Foldy, a professor at NYU’s Wagner Graduate School of Public Service, initiatives could include training, organizational policies and practices, and organizational culture. DEI isn’t just a rule or legislation created for organizations to pat...

Dec 31, 2024

AJ Dybantsa Commits To BYU And Reportedly Secures An NIL Package Valued At Nearly $5M

The future is bright for top high school prospect Anicet “AJ” Dybantsa Jr. The No. 1 recruit in the class of 2025, AJ Dybantsa has already caught the attention of NBA great Kevin Durant , who is impressed by his skill set and has no doubt he will one day be drafted into the NBA. “I got to know him two summers ago between his sophomore and junior year in high school. He came to work out with us. I was impressed by his size and fluidity as a player, his ballhandling. He was shooting jump shots well. He’s got the body type to become a pro in this league for 20 years. It is good to be around him. He has a lot of energy, too,” Durant told Andscape. While there appears to be a foreseeable path towards the pros, Dybantsa will first be taking his talents to college. According to The Athletic, he has committed to Brigham Young University (BYU) located in Provo, UT. He also is the school’s first 5-star recruit, notes KUTV 2 News in Salt Lake City. View this post on Instagram A post shared by...

Dec 23, 2024

Aaron Samuels Shares His Journey From Performance Poet To Reportedly Launching The First VC Firm To Be Simultaneously Funded By Amazon, Alphabet, And Twitter

Aaron Samuels has revealed his roadmap into the venture capital space. Samuels, co-founder and former chief operating officer (COO) of Blavity — w ho now leads a venture capital firm Collide Capital — has worn various hats in a career that spans more than a decade. He was a performance poet who spent nearly 10 years traveling and went on to secure roles as a director of operations (Dialogue Arts Project); senior associate consultant (Bain & Co.); and product manager (TeleSign) between 2011 and 2016, his LinkedIn mentions. For the next seven years, Samuels helped co-found Blavity Inc., a platform catering to Black Millennials and Gen Z amplifying areas of entertainment, politics, technology, and culture. It was created alongside Morgan DeBaun (CEO), Jeff Nelson (now COO), and Jonathan Jackson. Serving as the COO laid the footprint for Samuels’ foray as founder and managing partner of Collide Capital, which was founded in 2022 alongside Brian Hollins to provide resources, operational...

Dec 12, 2024