The Biggest Black Business And Other News This Week
If you’ve missed some of our biggest business stories this week, we’ve got you. Here’s a roundup of some of the biggest stories Black Enterprise covered last week:
- The founder of Upsie, a platform designed to make purchasing and storing product warranties easy and affordable, just closed a seed round of funding for $1.7 million — a remarkable feat especially for a tech entrepreneur of color.
- Kenneth Stephens, the young Houston-based founder of Stephens Law PLLC, a Houston-based firm specializing in construction law — a rare niche in the industry, particularly for African American attorneys shares his story. Inspiring read.
- Ken Chenault is making a big push into tech. The recently retired American Express CEO recently joined the boards of two of the region’s biggest companies in Facebook and Airbnb. Now he’s joining as the sole chairman of the venture capital firm General Catalyst.
- Rihanna is killing it as an entrepreneur. No, seiously. In its first month, cosmetics line did five times as much in sales as Kylie Cosmetics, a brand which has sold $420 million worth of product in its almost two-year existence.
- Ever heard of $Guap? We’re not talking about Big Sean’s 2013 rap song. I’m not talking about a wad of cash either.
- Entrepreneur Tavonia Evans created the spendable token designed to reward consumers for supporting black-owned businesses and urban institutions.
- California launched the world’s biggest legal pot market on New Years Day. Vermont’s state legislature became the first to legalize marijuana. With the marijuana industry growing at a rapid rate, it is expected to explode into a $24.1 billion market in less than 10 years.
- Ever wondered how much Beyonce makes every time she steps on the Grammy stage? Well, she makes nothing. But there’s a thing called the “Grammy Bounce” due to the publicity an artist gets by receiving the award.
- Two African American will be joining the executive ranks at McDonald’s U.S. business branch. Kenny Mitchell has been named vice president of brand content and engagement and Lizette Williams has been tapped for an entirely new role, head of cultural engagement.
- Jeff Bezos (Amazon), Warren Buffet (Berkshire Hathaway) and Jamie Dimon (JP Morgan Chase) are teaming up to launch a healthcare company.
- This black investment firm is making a big push into the gas and electric industry with the acquisition of LaFata Contract Services (LCS) for an undisclosed amount.
- If your team isn’t playing in the big game this weekend, don’t worry. You can cheer for the African Americans appearing in Super Bowl commercials come Sunday.
- Charlie is 13 years old. His sister Hannah, 16, has a condition that causes her to faint whenever she stands up. So, he created an app and they’re close to closing their first investment deal.
- The 2 Dope Queens Podcast is heading to HBO. Premiering Feb. 2, the show will showcase four hour-long specials of the podcast that were taped in front of a live audience in Brooklyn, New York. Guests featured on the show include actress Sarah Jessica Parker, Unbreakable Kimmy Schmidt actor Tituss Burgess, and Orange is the New Black star Uzo Aduba among others.