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Of the 1,537 startups that closed venture capital deals of at least $1 million in the fourth quarter of 2020, only 40 of them have Black founders at the helm, a new report finds. These findings were brought to light by Los Angeles-based diversity recruiting platform company Hallo in its second quarterly Black Founders Funding report. The new report analyzed 1,537 young companies across the U.S. that raised funding between $1 million and $50 million at the end of last year. The findings only account for these mega-deals closed between Oct. 1, 2020 , and Dec. 31, 2020. “In my honest opinion, the largest bottle neck for entrepreneurs of color are in the earliest days of starting your company. Once it’s time to go raise a traditional seed round the lack of friend and family capital access might put even the best laid plans and product roadmaps behind the curve in the eyes of seed investors aiming to back initial products and amazing teams,” Hallo’s co-founder and CEO Vernon Howard told...
Lil Yachty always knew he would be able to get rich with rap. The artist took a blast to the past on Shannon Sharpe’s “Club Shay Shay” podcast. Before betting fully on his music dreams and dropping out of college in the process, he worked several job. His mother, a businesswoman , instilled in him the importance of education and working. “My mother’s from a different time period than me as to where, like you know, her parents worked in steel mills, you know, and they instilled college in her. She’s from Gary, IN, so all she knew was a degree career,” he said on the podcast. “So, I’m like ‘I’m going to be rich off rap,’ and I’m from a little suburban area outside Atlanta (GA), where no one was famous, right. It was low to middle income. It was just regular, right. So, she’s like, ‘You got like a one-in-a-million chance.'” At 15, Lil Yachty worked at McDonald’s as a cook, and a year later he spent a month working at Six Flags amusement park during its Fright Fest. He also altered...
It’s important to surround yourself with friends you can win with, and Software Engineer Jovonne Cameron can attest to this. Cameron is a first-generation American who was initially discouraged from entering the tech industry by a high school guidance counselor. This led her to obtain a bachelor’s degree in business communication from Baruch College. She then went on to pursue a career in special education, working as an educator. However, she still maintained an interest in tech, particularly in computer science. In the wake of the COVID-19 pandemic in 2020, she was able to pursue her dream. “The pandemic came, and that was part of my story. I wanted to give myself that chance that I never got growing up and bet on myself. And then, within six months of making the decision, I became a software engineer,” she told AFROTECH™. Cameron now doubles as a software engineer and runs a tech consultancy that helps small businesses integrate artificial intelligence (AI) to streamline their...
In today’s competitive job market , having additional licenses, certifications, education , and training can give you a significant edge, enhance your resume, and make you more marketable to employers. The best part? Some of these credentials are easy to obtain and don’t require years of study or experience. Here’s a guide to some simple yet impactful licenses and certifications that can help you advance your career. Google Analytics Certification Google Analytics certification is a must-have for professionals in marketing, e-commerce, and web development. This free certification, offered by Google, provides a solid foundation in analyzing web traffic, understanding customer behavior, and optimizing online performance. According to DashThis , the certification helps professionals improve their data interpretation skills, a critical aspect of any business reliant on digital channels. The program is beginner-friendly and can be completed in under 10 hours. It also sets candidates...
Community is essential for Black professionals. Among the annual events that center Black audiences, the AFROTECH™ Conference has rightfully earned the title of “Black tech Mecca.” Each year, leaders that have included Robert F. Smith, will.i.am, Beatrice Dixon (The Honey Po co-co-founder and former CEO), and Colin Kaepernick (Lumi Founder) have taken to its programing stages to offer industry insights. View this post on Instagram A post shared by AFROTECH (@afro.tech) In attending the AFROTECH™ Conference, attendees have the opportunity to explore the expo floor, which features over 200 tech and enterprise companies actively recruiting, product demonstrations, and event activations both within the conference venue and in the surrounding area. The conference has made its way to Austin, TX, in previous years but has transitioned to Houston, TX, for the 2024 and 2025 years. Transforming Your ATC™ Experience As An Insider Among the list of ATC 2024 attendees was Jade C. Williams, a...
If you tend to spend any time analyzing stock market data , you may have been struck by the sudden surge in Salesforce shares on Tuesday morning. Per reports, the shares saw a more than 12 percent single-day rise as Salesforce’s third-quarter earnings were reported in full. Not only did the corporation, listed as CRM on the New York Stock Exchange , manage to out-earn their Q3 projections in 2024, their recent pivot to artificial intelligence has led analysts to project significant additional growth in quarter 4 and beyond. Expectations for fourth-quarter sales have now been reported at highs of over $10 billion. Though these figures seem massive in scope, some analysts have successfully predicted this rise, as Salesforce has been on a financial uptick throughout all of 2024. To understand why these figures are significant, and what this means for the Salesforce market moving forward, we’ll have to take a brief look at the company’s existing business model, financial structure, and...
People are sensitive about their phones. Want proof? Tell an Apple smartphone user to buy an Android phone, and you’ll be met with the same facial expression as hearing someone say they don’t know how to play Spades . It’s not that 3.3 billion Android users don’t exist. It’s just that Apple has made such a name for itself that the average Apple user is chasing that brand even more than they’re chasing the actual phone. Competitors get dismissed quickly. Even though the average salary for an iPhone worker is $10 an hour , that same phone (ex. iPhone 15 Pro) they made has a price tag of $558. Are Apple Products On The Decline? Last year, according to the U.S. Securities and Exchange Commission , Apple’s total net sales were $383.3 billion and its net income was $97 billion, a small decrease of 2.79% from $394.3 billion in 2022 . While that may be alarming to founders Steve Jobs and Steve Wozniak, inflation and unemployment ( 6.3 million in 2023, up from 5.9 million at the end of 2022...
BET+ and Braze to Provide 1:1 Mentorship Guidance in Branding, Email Advertising, and Engagement Strategies to Select Companies through First-ever Partnership In 2023, startups founded by Black entrepreneurs in the US received less than 0.5% of venture funding, and woman-founded startups just 2.2% . To help address this imbalance, Braze, a leading customer engagement platform, has developed Tech for an Equitable Future, a product grant program. The initiative is designed to help underrepresented founders accelerate their company’s growth with the use of Braze technology, increasing their chances at securing future VC funding. The innovative initiative selects 20 startups from APAC, EMEA, and North America with founders from underrepresented backgrounds—including Black and women entrepreneurs. These businesses will receive 12 months of free access to Braze technology, as well as a range of supporting resources aimed at driving business growth and scalability. Each company will...
C. David Moody Jr. once turned down an investment from Michael Jordan for his construction business. Since 1987, Moody, a Howard University alum with a Bachelor of Architecture degree, has been leading C.D. Moody Construction. He launched the Atlanta, GA-based venture seven years after serving as a staff architect and field engineer at Bechtel Power Corp. Moody was in his early 30s at the time of the company’s launch. While speaking with AFROTECH Brand Manager Will Lucas on the “Black Tech Green Money” podcast, he admitted he had a team of three — which later scaled to more than 60 individuals — and launched with low capital. In fact, he and his wife had to borrow a couple thousand dollars to get C.D. Moody Construction off the ground. Moody said his saving grace was financial advice from his father, who served as a professor and later vice provost of the University of Michigan. “My dad grew up in the depression, and things were tight and he grew up very poor in Louisiana,” Moody...
Attending an HBCU helped Lance Gross realize his dreams of becoming an actor. The Oakland, CA, native had envisioned he would establish a career in entertainment. However, his parents initially had other aspirations, encouraging him to pursue finance and business . “I went against the grain. I like to take a chance on myself. I always bet on myself,” Gross told AFROTECH™ on Saturday, Oct. 18, at the Off The Yard Festival at The Bullpen in Washington, DC. There he served as an event partner for the spirit company DIAGEO, celebrating Howard University’s 100th anniversary and sharing in its mission to elevate HBCUs. “I had to do what I loved and what I loved was entertainment. And I’m a creative person, and I feel like I’m not living unless I’m creating. For me, it was a no-brainer. Now, I had some convincing to do with my parents, and also I was on a full track and field scholarship, so I had to convince my coach as well. But, I’m from Oakland, CA, so I’m gonna make it work. We know...
Houston, TX, native Jennifer Ford’s passion for sneakers has led her to work with major apparel giants. Ford is currently the proud owner of Premium Goods, a sneaker boutique in Houston. The idea for opening the shop dials back to her days in New York, NY, following the completion of her economics degree from Emory University, her LinkedIn mentions. While in New York, it would spark her interests in women’s buying departments and women’s product development. However, it was not until she befriended Premium Goods-Brooklyn shop owner Clarence Nathan that Ford manifested her own sneaker boutique in 2004, located in her hometown. “It’s about being with other people who enjoy the same thing as me and [building] a community,” Ford told Vogue in 2023. With its opening in 2004, the Premium Goods Houston location reportedly became the first sneaker retail store in the United States led by a Black woman. Per Premium Goods’ website, the shop features major brands like Jordan Brand, Nike,...
Team ownership is not completely off the table for billionaire Mark Cuban. Cuban was former majority owner of the NBA’s Dallas Mavericks since 2000, purchasing stake in the team for $285 million, mentioned Fortune. At the time, he felt he was at an advantage due to his knowledge in technology and media. However, in recent years he recognized a shift towards real estate as necessary to be successful in team ownership. As a result, he chose instead to sell most of his stake to the Miriam Adelson family, controlling shareholder of Las Vegas Sands Corp., in December 2023 in a deal valued at $3.5 billion. He now maintains a 27% stake in the Dallas Mavericks and is in control of its basketball operations as well as serves as the alternate governor, according to the NBA. “When I first bought [the Mavericks] in 2000 I was the tech guy in the NBA. I was the media guy. I had every edge and every angle,” he explained on the “All-In Podcast.” “Now fast-forward 24 years later. In order to...
Levi’s is capitalizing on its feature on Beyoncé’s “Cowboy Carter.” The clothing company recognized for its denim jeans was a listed track on her country album, which was released on March 29, 2024, by Parkwood Entertainment and Colombia Records and featured artists like Post Malone and Miley Cyrus. While the iron was hot, Levi’s took the opportunity to change its Instagram handle by inserting an additional I, aligned with the spelling of the song on the album, “Levii’s Jeans.” However, Kenny Mitchell, chief marketing officer at Levi Strauss & Co., believed the company could push the brand even further if they partnered with the Houston, TX-born artist. “Once that album came out, it was obviously a moment where we said, ‘Hey, maybe we can start to have some conversations about whether a deeper partnership makes sense,’” Mitchell told The New York Times. Having already planted a seed of familiarity with Beyoncé in the past, as she sported the jeans as a Destiny’s Child member and has...
Asking for a raise can be one of the most nerve-wracking endeavors in the workplace. It implies you esteem your services to be of greater monetary value than your company is currently offering. However, asking to be paid more doesn’t have to be an intimidating process. If you do your research, prepare thoroughly, and approach the conversation with confidence and professionalism, you can have a successful outcome. Remember, advocating for your worth is an important part of your career growth, and if you don’t believe you are worth more, no one else will. Here’s how you can approach the matter: Do Your Homework Before you even think about approaching your boss, it’s essential to do some research: Market Rates: Research the average salary for your position within your industry and geographic area. Visit websites like Glassdoor, PayScale, and LinkedIn Salary that provide valuable insights. Company Standards: Understand your company’s pay structure and where your current salary fits...
Since 1908, the Alpha Kappa Alpha Sorority Inc. and its members have made their marks across several industries and impacted communities and spaces. Some influential members include Phylicia Rashad, Coretta Scott King, Rosa Parks, Maya Angelou, Toni Morrison, and Vice President Kamala Harris, according to ESSENCE. Harris was officially sworn in as vice president of the United States on Jan. 20, 2021, making her the first woman, Black person, and South Asian American to be elected to the office. While this historical marker is noteworthy, it was not the beginning of her story. Kamala Harris’ Road To Howard University A native of Oakland, CA, Harris’ roots in education and public service start with the influence of her mother, Shyamala Gopalan. According to a profile from the White House, Gopalan earned her doctorate in 1964, the same year Harris was born, and worked as a breast cancer scientist. Harris’ father, Donald J. Harris, came to the United States from Jamaica to study...