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Pryce Yebesi has raised new funding in his next era as a founder. Yebesi co-founded Utopia Labs at the age of 21 alongside Kaito Cunningham (CEO), Jason Chong, and Alexander Wu. The venture offered crypto payments and crypto treasury management, and was “trusted by leading DAOs (decentralized autonomous organizations) and crypto companies to streamline operations, manage payroll, and consolidate financial reporting,” as AFROTECH™ previously reported. Yebesi also dropped out of college to focus on Utopia Labs, which had been supported by a $1.5 million raise in 2021 and was later acquired by Coinbase in November 2024. According to information shared with AFROTECH™, Yebesi then began working as an entrepreneur-in-residence at Washington University in St. Louis, MO, and through his observations he recognized small business owners were challenged by accounting software. This prompted the launch of a new brainchild in the fintech space, Open Ledger, which was established with the help of...
Crowdaa aims to remind the middle-class creator economy that power can be in their hands. The French-American startup, founded by musician and psychologist Vigile Hoareau and American composer and producer Jimmy Thomas, understands the potential of technology to level the playing field for creators. The company aims to empower users to take greater control of their creative freedoms and challenge the status quo often perpetuated on social media platforms like TikTok—which faces a potential ban on January 19 unless sold to a U.S.-based company—and Instagram, as well as on music platforms like Spotify and Apple Music. This includes moving away from traditional revenue models on these platforms, which often benefit the platforms more than the creators, especially regarding compensation. Even Snoop Dogg has voiced concerns about the low payouts from Spotify, despite achieving 1 billion streams. He reportedly received less than $45,000, as AFROTECH™ previously reported. “When you look at...
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...
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...
Cincoro, Michael Jordan’s spirit company, is making large strides. As AFROTECH™ previously reported, the tequila company was founded in 2019 by Jordan in partnership with NBA team owners Jeanie Buss of the Los Angeles Lakers, Milwaukee Bucks’ Wes Edens, and Boston Celtics’ Emilia Fazzalari and Wyc Grousbeck. Since then, it has won numerous awards and attracted notable investors, including Serena Williams, Derek Jeter, Michael Strahan , Fenway Sports Group Co-founder Tom Werner, and RedBird Capital Partners Founder and Managing Partner Gerry Cardinale. “Michael introduced me to the brand, and I’ve been an avid fan of Cincoro Extra Añejo since it launched in 2019. I’m honored to support Cincoro in its next era,” said Jeter in a press release. Williams commented: “Being part of Cincoro isn’t just about business —it’s about championing a legacy of greatness. I love Cincoro. Just as I’ve strived for excellence on the court, I recognize the dedication and drive behind Cincoro, and I’m...
Entrepreneur Keon Williams is making history as a franchisee. QCity Metro reports that Williams’ interest in the food business dates back to his time working in his family’s businesses in the Charlotte, NC, area. His father ran the sub shop, Chat and Chew, while his grandfather owned a hoagie shop. “I watched them, the growing pains, the goods and the bads,” Williams told the outlet. He is following in their footsteps today as the latest franchisee of Tacos 4 Life Dilworth, which has 19 locations across five states. Williams’ storefront is located in Charlotte’s Dilworth neighborhood. By opening the location, he is making history as the youngest and first Black franchisee of the restaurant brand. “I wanted to come here. I know that there aren’t any Black businesses or food businesses in this area,” Williams said, according to QCity Metro. “I wanted to be that beacon of change and that beacon of light.” Customers supporting Williams’ 3,000-square-foot restaurant can try a variety of...
Self-taught baker Ashley Huston is opening her own shop in Philadelphia, PA. For Huston, it all started as a child. She was interested in tinkering with recipes that were as simple as a peanut butter and jelly sandwich, she told CBS News. “I would try to change things up and recreate things,” she shared with the outlet. In 2020, during the COVID-19 pandemic, Huston decided to open a micro bakery as a side hustle. According to her company website, she offers a variety of cakes, including flavors like red velvet, cookie butter, chai-spiced carrot cake, and unique options such as matcha cake paired with strawberry lavender jam, matcha custard, and condensed milk buttercream. She also sells cookies, cinnamon rolls, brownies, and savory pastries. Her creations have even won her Philadelphia Magazine’s 2024 Best of Philly baker — not to mention she caught the attention of the legendary Patti LaBelle. Huston had the honor of making the cake for LaBelle’s 80th birthday. “We decided on...
Spelman College graduates who were friends first and then founders seconds are taking their nail bar to new heights. Kelli M. Coleman and Anika J. Odegbo are the founders of The TEN, marketed as Detroit, MI’s first modern nail bar. The two shared a common goal of embarking on an entrepreneurial journey to build wealth, which they brought to life in 2016. “So, Anika and I are friends and Spelman sisters. We ultimately met when we found out that both of us intended to attend. We decided to room together, and the rest is history, as they say. Both Detroit natives, I grew up in Southfield, and Anika grew up in Detroit proper. We come from entrepreneurial families; we really understand the power of entrepreneurship to create generational wealth. It was always our respective goals to own businesses of our own in addition to carrying on our family’s entrepreneurial legacy. That’s sort of the origin of how we know each other, and that’s how The TEN came to be,” Coleman told the Michigan...
Taking into consideration its network of entrepreneurs, T.D. Jakes Enterprises has launched an accessible marketplace. In 2023, the social impact holding company set out to support underrepresented entrepreneurs by addressing a critical gap. Despite the efforts of stakeholders driving meaningful change, there were no centralized systems or platforms to provide comprehensive resources. This need inspired the launch of the Good Soil Movement in April 2023. “What we didn’t find was one centralized space where entrepreneurs can not only network but actually get access to capital, access to back office support, legal help, accounting support, business plan development, understanding where they fall on the capital continuum… So out of that, we created Good Soil,” Michael Phillips, chief operations officer of T.D. Jakes Enterprises, told AFROTECH™. Nourysh Good Soil has set an ambitious goal: to empower 1 million small business owners to generate $1 million in revenue each. To advance this...
Tyrre Burks has raised new funding that will benefit younger athletes. The Chicago, IL, native is the founder of Players Health , a platform providing support solutions for sports organizations, teams, leagues, and clubs. These solutions include insurance offerings and an athlete safety suite that encompasses education and training, injury management forms, incident reporting, compliance forms, and tools to support name, image, and likeness (NIL) deals, its website mentions. As a former college athlete who went pro in the Canadian Football League, Burks understands firsthand the importance of athlete safety. During his playing career, he endured multiple injuries, including an experience during his college freshman year when he was paralyzed on the field for 45 minutes. “My freshman year of college I was catching a low ball with my head down, and I get hit. I’m paralyzed on the turf, could not move. This happened… It’s probably the most bizarre feeling you could ever have where you...
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...
Maryland’s first Black family-owned wine company is expanding! As AFROTECH™ previously reported, Boyd Cru Wines is led by married couple Matthew and Jon’ll Boyd, who pursued separate career paths for over a decade before collaborating on a shared business venture in the wine industry. For over a decade, Jon’ll worked in the event planning industry, while Matthew built his career in the pharmaceutical and chemistry sectors. In the wake of COVID-19 in 2020, Jon’ll’s industry came to a standstill, leading to a greater focus on what became Boyd Cru Wines in April 2023. “I think the pivotal point for us came right about during the pandemic because that, of course for me, brought my event planning business to a very quick and fast halt as you can imagine with people not being able to gather,” Jon’ll told the Washington Business Journal. “It afforded us an opportunity to delve deeper into the wine industry, and simultaneously, I think at that time, I was seeing that there was some shifting...
Co-founders Audrey Djiya and Peter Nsaka have secured funding from Fearless Funding. TechCrunch reports that the pair became connected while attending Stanford University. Djiya attended its school of business, while Nsaka studied computer science. Although they pursued different educational journeys, they were united by a shared mission: solving the complexities surrounding international commerce. Their focus became streamlining the movement of goods across borders, addressing issues such as inefficient supply chains, inconsistent regulations, and barriers to trade. Their unique perspectives and expertise became the foundation for tackling the challenge with innovation and collaboration. For Djiya, she had taken note from her family, who were entrepreneurs. “Growing up watching family members move goods cross-border, the challenges around international commerce really stuck with me,” she told the outlet. Nsaka made his own observations while at Shopify. He took on the role in 2020...
A TikTok ban could result in the loss of substantial earnings for small businesses and social media creators. As AFROTECH™ previously reported, the China-based platform, with over 1 billion users globally and 170 million in the U.S., is at risk of being banned as a result of the intention to “protect the national security of the United States from the threat posed by foreign adversary controlled applications.” The ban is expected to go into effect on Jan. 19, 2025, depending on whether the platform is unwilling to sell the application, per ABC News. On Dec. 6, 2024, the federal appeals court denied TikTok’s push to overturn the ban. Within days, TikTok doubled down and requested an emergency injunction to allow the Supreme Court to review the decision to ban the application at the start of the upcoming year. “The Supreme Court has an established historical record of protecting Americans’ right to free speech, and we expect they will do just that on this important constitutional...
Metta Sandiford-Artest, formerly known as Metta World Peace, has entered the world of venture capital by launching his own VC firm. The former Los Angeles Lakers player expanded his focus to the VC sector after retiring from the NBA in 2017 after 17 seasons in the league. According to Sportico, Sandiford-Artest pursued a deeper understanding of private equity and finance by enrolling in digital analytics courses and working toward a master’s degree at the University of California, Los Angeles (UCLA). “I told people that I didn’t want my face to add value,” Artest told Sportico. “I wanted that to be my word and my (mind). That took a long time. There’s just so much that goes into that, especially how people perceive you. You’ll go into a meeting (before) and they’re just waiting to talk basketball.” In December 2024, Artest launched Tru Skye Ventures — in partnership with former Boost Mobile CEO Stephen Stokols. The collaboration builds on their existing business relationship, which...