TruSo, a Black-owned Social Networking App Set to Launch
By Stacy M. Brown, NNPA Newswire Senior National Correspondent A new app could end the so-called “Black Twitter” experience and allow African Americans their own social media platform. Backed by celebrities Sway Calloway, Kareem Grimes, Terrell Owens, and Miki Barber, the Black-owned social networking app, TruSo, is poised to debut. “I believe in the power of community – especially cultural communities,” Matthew Newman, the founder and CEO of TruSo noted in a news release. “As it relates to the Black community, the entire world has witnessed what we can accomplish when we join
Billionaires Row: The Only Black-Owned Champagne Brand in the World
(News Source: www.miamitimesonline.com) – By Selena Stanley Miami Times Staff Writer – When Jay-Z sold 50% of the luxury Champagne brand Ace of Spades, Billionaires Row officially became the only majority Black-owned Champagne brand in the world. With a valuation of approximately $600 million across all of its brands, which include Champagne, a signature cognac, clothing and other goods – the luxury lifestyle company is on track to becoming one of the most recognizable Black-owned conglomerates, according to co-founders William Benson and Patrick Ductant. Breaking into the multimillion-dollar spirits industry, garnering a celebrity
Black business registrations increase during COVID pandemic
(BlackPressUSA)—Several states have shown that the number of registered businesses has “more than doubled” according to analysis by the New York Times. In the month after the CARES Act was passed by Congress in March 2020, business registrations increased by 60 percent. Though the economic downturn caused by the COVID pandemic is likely to damage entrepreneurship and put many small businesses in a financial hole or out of business entirely, there are signs that many have turned to creating businesses after losing employment elsewhere. Andre Perry, a Brookings Institution
Wells Fargo anchors the Black Economic Alliance Foundation’s Entrepreneurs Fund
(BlackPressUSA) — The Black Economic Alliance Foundation (BEA), in collaboration with Wells Fargo, launched the Black Economic Alliance Entrepreneurs Fund (BEA Entrepreneurs Fund) to accelerate the growth of Black entrepreneurs and business owners. The $50 million evergreen fund will provide seed, start-up, and early-stage capital to businesses founded and led by Black entrepreneurs. The launch of the BEA Entrepreneurs Fund is anchored by Wells Fargo with a $20 million commitment over five years to kick-start operations and investments, and to serve as a thought partner to the BEA
Quentin L. Messer, Jr. Appointed Michigan Economic Development Corporation CEO
The Michigan Economic Development Corporation Executive Committee today named Quentin L. Messer, Jr. as MEDC CEO. The announcement comes following a national search led by the organization’s Executive Committee that included a needs analysis for the role and input from stakeholders statewide on key attributes the position required for success. “We work hard every day to bring good jobs to Michigan and support strong communities across our state through the critical work of the MEDC. Quentin brings a wealth of experience to this role and a clear passion
John Hope Bryant vows to create one million Black entrepreneurs, businesses with $130 million fund with Shopify
By Hunter Gilmore, The Atlanta Voice For centuries, people from all over the world have viewed and traveled to America in pursuit of the American dream. To come to a place where freedom, opportunity and financial gain were highlighted at the top of the list. Everyone aspires to obtain these goals, especially people who are native to this country. However, somewhere along the way various societal and racial factors have discouraged certain groups of people and made it seem almost impossible to strive for the highest. John Hope Bryant, the
MassMutual Great Lakes and First Independence Bank Announce Strategic Alliance Expanding Insurance And Investment Access
MassMutual Great Lakes (MMGL), a Southfield-based firm offering a wide range of financial products and services, is pleased to announce a strategic alliance with Detroit-based First Independence Bank (FIB), the only African American-owned bank headquartered in Michigan and the 7th largest in the country. The alliance will enhance FIB’s ability to provide comprehensive financial services to its retail and commercial clients in Detroit and nationwide, many of whom have been historically underrepresented when it comes to accessing these services. “At MassMutual Great Lakes, we believe every individual, small business
Dr. Tonya M. Matthews Named International African American Museum New CEO
The International African American Museum has found the final piece for the massive global project that will change the landscape of African American history and its curation. Seventeen months after breaking ground on the museum, its board of directors has selected as their CEO, Dr. Tonya M. Matthews. Dr. Matthews, an experienced executive, thought leader, and educator, has proven track records in organizational leadership, strategic planning, diversity and inclusion, program development, project management, and vast visitor, and community engagement initiatives. She is founder of The STEMinista Project, a ground-breaking, national initiative that inspires
Renee Montgomery Makes History in Purchasing WNBA’s Atlanta Dream
By Stacy M. Brown, NNPA Newswire Senior National Correspondent Renee Montgomery, a two-time WNBA champion and vice president of the Atlanta Dream, has purchased a stake in the franchise and is now co-owner. Montgomery is the first retired player to own and serve as an executive of a WNBA team. The superstar and her two partners, Larry Gottesdiener and Suzanne Abair of Northland Investment Corp. take over the team that was once co-owned by former U.S. Sen. Kelley Loeffler (D-Ga.). “With the unanimous WNBA and NBA [board] votes, marks a new beginning
Target to spend over $2B with Black-owned companies by 2025
by Sherri KoladeMichigan Chronicle Target announced recently to spend over $2 billion with Black-owned businesses by the end of 2025, Black Enterprise reported. Target made the pledge to add more products to its shelves from over 500 Black-owned businesses and work with more Black retail companies to enhance retail operations and shopping experiences, according to the article. Target will also introduce new opportunities to assist its Black-owned resources in growth for their businesses. Those resources entail a new team geared to giving vendors support to help propel Black-owned companies optimize their brands