• Entrepreneurship

by Jeffrey McKinney

February 6, 2023

Acquisitions Remain Future Growth Strategy for IMB Partners as Black Firm Achieves $1 Billion Revenue Mark

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For IMB Partners, acquisitions will remain an integral part of the Black investment firm’s robust growth.

The Bethesda, MD-based IMB recently announced its tremendous growth in 2022 with over $1 billion in revenue reached across its portfolio of investments. The firm reported the achievement came from 12 years of strategic investments and acquisitions, backed by an expert team of over 15 talented investment professionals. And the firm’s vigorous pace continues to increase.

IMB founder and CEO, Tarrus Richardson, shared on the growth in an email with BLACK ENTERPRISE. “IMB Partners began in 2010, and in 2022 we achieved $1billion in revenue. Our focus on investing in middle-market companies with specialized services and capabilities in defensible markets allowed us to avoid the downturns that so many other sectors face. Our sector expertise in government contracting and utility/infrastructure services will serve us well as we pursue 2-3 acquisitions in the coming 18 months.”

In a new development, IMB Partners just won the iGlobal Forum’s Inaugural Independent Sponsor Award for Diversity ESG of the Year. Check out more details here.

In 2022, the company had a landmark year that included providing 10%  revenue growth in IMB’s existing portfolio companies. IMB typically invests in utility, infrastructure, information technology, cybersecurity, and food companies with annual revenues from $10 million to $250 million.

The firm’s deals last year included acquiring a majority stake in the electrical contracting firm Carr & Duff. IMB sold the utility project and construction management firm LaFata Contract Services to Anser Advisory, providing IMB investors a return 27 times higher than their original investment. IMB also acquired the Farwest Corrosion Control Co. that provides cathodic protection and corrosion control services.

Last November, Richardson also shared with BLACK ENTERPRISE how his firm intends to sustain its momentum. “Over the next several years, we expect to double or triple our investment in utility services and government contracting – we see this happening organically given the focus on infrastructure and the companies coming on the market to sell.”

Moreover, Richardson recently shared some valuable tips that might prove beneficial to business owners in a podcast, here. 

Since launching, the firm changed its name to IMB Partners from IMB Development Corp. It has been listed on the BE 100’s list of the nation’s largest Black-owned businesses.

• Health and Wellness

by Jeroslyn JoVonn

February 6, 2023

Allyson Felix Talks Combatting Germs With Clorox, Becoming An AKA, and More

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Allyson Felix sat down with Black Enterprise to share her new partnership with Clorox aimed at empowering families to combat germs this cold and flu season.

The 11x Track and Field Olympian is passionate about keeping her household clean and healthy for her daughter. Now, with Clorox by her side, Felix can share her favorite Clorox products while motivating other families to do the same.

“For me and my family, when my daughter gets sick, it really just takes the whole household down,” Felix told BLACK ENTERPRISE.

“It goes around and so I’m really just trying to do a lot of prep work. So I’m loving using Clorox’s disinfecting wipes at home, on the surfaces in our kitchen, and in the playroom. Just making sure that we are getting ahead of the game.”

When you least expect it, the common cold and the flu can appear and have a major impact on your household that can lead to sick days and missed school or work. But with regular routine cleaning and wiping down commonly touched areas within the home, families can do their part in staying healthy for an unstoppable year ahead.

It’s also vital to teach young children the importance of healthy hygiene and staying germ-free. It’s what Felix does with her daughter Camryn, 3.

“Just teaching her good practices, you know, about washing her hands and how long that should take,” she said.

“She should be able to sing the whole ABCs and all of those good things.”

Felix didn’t just dish on her Clorox partnership, the LA native also shared her pride in having her alma mater USC recently rename their track and field in her honor. Also as a newly initiated member of Alpha Kappa Alpha Sorority, Incorporated, Felix touched on her excitement to join the first Black Greek-lettered organization and how welcoming her fellow sorors have been.

“It feels amazing,” Felix said. “It was such a beautiful ceremony and everywhere I go I have just been welcomed into the sisterhood and so I’m loving it.”

Press play below to catch up on Allyson Felix and learn how you can combat germs with Clorox this year.

Here’s the “tea” on this invitation take-back.

Philadelphia entrepreneur Felicia Harris-Williams, owner of Gynger Tea, said Cooper University Health Care uninvited her to be a vendor at a Black History Month expo, claiming her specialty teas were not a fit for their cultural theme.

According to The Philadelphia Inquirer, the initial invitation Williams received was to be one of the Black-owned businesses to showcase their products during the Black History Month marketplace. Unexpectedly, Cooper withdrew the tea owner’s invite with an email saying her brand “does not fit in with our cultural theme since it’s not specifically an ethnic product.”

“How is a Black-owned company not ethnic for Black History Month?” Williams, 36, asked. “It just didn’t make sense to me. It’s just unacceptable behavior.”

“Who makes that determination of who’s Black enough? Obviously, somebody screwed up,” said Lloyd D. Henderson, president of the Camden County East Chapter of the NAACP.

Williams took to her company’s social media to share the unfortunate news with followers.

 

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A post shared by Felicia Harris-Williams (@theblacktealover)

Cooper hospital made a statement apologizing to Williams “for an unfortunate miscommunication that caused her understandable frustration,” adding that they miscommunicated the event guidelines that prohibited food and beverage vendors.

“I thought it was a great opportunity to put my business in front of a new audience,” Williams said. “This is a perfect fit to be in a hospital.”

Williams questioned Francess Bowen-Metzger regarding their decision to remove her as a vendor. Bowen-Metzger is Cooper’s diversity specialist in human resources and the representative who extended and confirmed the invitation for Gynger Tea. Williams asked her to clarify the “ethnic theme” and explain “what is not ‘ethnic’ about custom organic tea blends made by a Black woman (me)?”

Williams’ Gynger Tea House is a holistic wellness brand that ships premium blend teas, candles, and body-care products. The company offers organic, all-natural tea blends for the purpose of comfort, healing, or anyone seeking a good cup of tea.

“I’m very intentional about the products I make,” Williams said, referring to her 2015 diagnosis with Wolff-Parkinson-White syndrome. “I am very unapologetic about the fact that I make my product with Black women in mind.”

“I don’t want this to happen to other minorities,” she said.

Over the last several years, former corporate bank executive turned entrepreneur and digital influencer, Tiffini Gatlin, has become a pioneer in the hair and beauty industry, winning in a niche market with no blueprints.

Kicking off Black History Month, Gatlin is celebrating a trailblazing move in innovative self-care. She is the first Black-owned and woman-operated faux hair designer and distributor to debut a textured hair extension product for Black women on QVC in their 37-year history.

With Black women in mind, the Latched & Hooked founder created a pre-tied turban wig that can be donned in 60 seconds or less. It even requires no lace cutting or gluing. Whether you wear wigs or not, the newest and high-selling “On the Go Pineapple Wig with Headband” can save you an average of 45 minutes, while eliminating the physical or mental conditioning caused by styling textured hair.

The recent launch, which aired on Feb. 4, continued to prove just how much the Black dollar shows up and shows out. The innovative wig already sold out of 1 of the 2 colors. Shop the launch here.

“Black women are expected to do it all and look presentable while doing it,” Gatlin told BLACK ENTERPRISE.

“My wig design is a reminder to Black women that it’s okay to not have it all together but you don’t have to look like you don’t have it all together. We have beauty solutions for that!” 

Considered the nation’s largest electronic retailer, QVC broadcasts to 380 million households around the world, including 7 countries, selling a wide variety of merchandise that includes clothing, jewelry, cosmetics, electronics, housewares, and toys. 

 

View this post on Instagram

 

A post shared by Tiffini Gatlin (@tiffinigatlin)

Since 2021, Gatlin has been behind the scenes anticipating her launch, while enduring COVID-induced delays, product testing, and more. But the timing is perfect for the CEO.

“The fact that it took 37 years for Black women to finally see a product that was specifically made with their hair texture in mind– is emotional, yet I feel honored that I was chosen,” Gatlin told BLACK ENTERPRISE.

She added: “I never remember seeing a Black-owned product on QVC, let alone a Black host, when I was a young girl watching in the early 90s and helping my mom secure her black porcelain dolls. If there were Black owned products you never knew about it. I never asked my mom but I think she was so amazed to see a black doll on live television that she started collecting them whenever they would make an appearance.”

 

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A post shared by Tiffini Gatlin (@tiffinigatlin)

In 2018, Gatlin’s journey to seeking out quick and efficient solutions for Black women’s hair landed her on a solo trip to China, where synthetic hair for extensions (and wigs), are typically manufactured. Wig export accounts for more than 70% of the global supply.

In a completely unregulated industry, it can be practically impossible to determine how the synthetic hair of plastic fibers is manufactured. Sources have reported on how this low-grade acrylic plastic can affect the environment and the health conditions of those who dare to switch their hair as quickly and often as their outfits. For instance, Black women make up one third of the women who suffer from Traction alopecia.

“I was curious as to why my daughter along with so many other Black women were suffering from scalp irritation. I wanted to know what the synthetic fiber was made of and I wanted to find a solution to their problems,” Gatlin explained.

The boss lady of several successful digital brands, including multi-million dollar e-commerce beauty brand Curlkalon Hair Collection, Gatlin expanded her vision from the first patent-pending process of pre-curled and looped synthetic hair to the launch of Latched & Hooked, a lifestyle and beauty brand that offers textured synthetic hair extensions and hair care products.

The company aims to relieve Black women’s scalps and skin sensitivity by testing its hair fibers for toxins and ensuring they are zero percent of soluble heavy metals, lead content, phthalates, and formaldehyde.

Though synthetic hair products have failed to meet proper informative and efficient health and safety legislation, Gatlin is changing the narrative with her products and the help of her community. She leans on the support and her first mentorship in entrepreneurship with Carol’s Daughter founder Lisa Price, even as she strives to pursue scalp care and protective style maintenance.

“My goal is to deliver exceptional customer service and premium products in a way my customers aren’t used to purchasing,” Gatlin said. “My customers tell their friends and family how much they love our product and then we are lucky enough to engage that referral and gain them as a customer. I am always just doing the work.”

She continued: “We made history on QVC because a participant in a focus group that QVC had mentioned our name. It’s the classic example of how your name is being spoken in rooms you’ve never entered.” 

• Lifestyle

by Stacy Jackson

February 6, 2023

Marriage Between 24-Year-Old Black Woman, 85-Year-Old White Man Goes Viral, They Want to Have a Baby

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She says her husband is no “sugar daddy.”

A couple recently went viral on social media after 24-year-old Miracle Pogue married her 85-year-old partner, Charles Pogue.

According to The New York Post, the couple not only shares a 61-year age gap, but Charles is two decades older that Miracle’s own grandfather.

https://www.tiktok.com/@mnigeria98/video/7137036949658848555?lang=en

Miracle said that even after she found out Charles’ age, during a conversation where he revealed he was born in 1937, she was still attracted to his confidence, and their friendship eventually turned romantic.

“I never even placed his age, we just wanted to see how it went. I don’t care if he’s 100 or 55, I like him for him. I thought he was maybe 60 or 70 because he looks so good,” she added. “He’s always up and active.”

The couple met in 2019 while Miracle was working at a laundromat in Starkeville. Charles proposed to Miracle in 2020, and they were married last summer.

Reportedly, Miracle’s family had opposing views on the relationship. Her mother, Tamika Phillips, 45, and her grandfather, Joe Brown, 72, fully supported the couple’s decision, but Miracle’s father, Kareem Phillips, 47, didn’t necessarily approve of the relationship. Even though it took a lot of time to convince her father, Miracle told him his absence from her wedding would cause him to lose her, because she needed his support and wanted him to walk her down the aisle.

“Once he got to meet Charles and talk to him, he loved him,” Miracle shared.

“She’s got her life in order, she’s great,” Charles said of his young wife. “The wedding day was wonderful, it was the best day of my life. There’s no problem with the age difference.”

The U.S. Sun reported that the couple started research on IVF, as they plan to start a family.

Miracle knows she will most likely outlive her husband, however, she hopes to create another generation, and make Charles a first-time father.

Taking advantage of different opportunities, like pitch competitions, definitely helps entrepreneurs expand their small businesses. Just ask Healthy Hip Hop.

AfroTech reported the small business was named the winner of Invesco’s QQQ Legacy Classic Startup Pitch Competition, sponsored by MaC Venture Capital and Concrete Rose Capital, during the second annual QQQ Legacy Classic Basketball Showcase Finals. Created by award-winning actor, producer, and director, Michael B. Jordan, the showcase was held in Newark, NJ and featured HBCU basketball teams who took it to the hoop in hopes of being champions.

 

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A post shared by Healthy Hip Hop | App for Kids (@healthyhiphop)

Healthy Hip Hop is an app that empowers and educates children with relatable music and innovative technology. Founder Roy Scott uses livestream performances and YouTube videos, with over 5,000 subscribers, to help kids learn interactively, through engaging activities. Michael Palank, General Partner at MaC Venture Capital, told AfroTech, this could not have been a better time to provide Health Hip Hop with this honor. “2023 will also mark the 50th anniversary of Hip-Hop so we felt this was a good time for a company called Healthy Hip Hop to start to scale,” Palank said. “Scott is a Hip-Hop artist who wanted to positively influence his kids. When he realized that his own rap lyrics that his own kids were quoting were about violence, drugs, and disrespecting other people, he knew he needed to find another path.”

Winning the competition will provide Healthy Hip Hop with one-on-one support and mentorship from Jordan, MaC Venture Capital, Invesco, and Concrete Rose Capital.

Black Enterprise reported the basketball tournament showcased Morgan State University taking on Delaware State University, while Norfolk State University faced Hampton University, in a doubleheader airing on TNT. The Creed star was present during the tournament as The Daily Mail reported he was seen courtside chatting with fans and participated in a presentation of a $10,000 donation to MEAC Sports.

Chris Brown threw a hissy fit on social media Sunday after he lost the Best R&B Album Grammy to musician Robert Glasper.

Brown took to his Instagram Story to share a series of posts shading Glasper, a pianist who has written and produced albums for hitmakers like Kendrick Lamar, Mac Miller, Common, and Talib Kweli, Huff Post reports.

The singer was nominated for Best R&B album along with Mary J. Blige, PJ Morton, and Lucky Daye. While Blige, who was in attendance, took her loss in stride, Brown sounded off and shaded Glasper on social media.

“Who the f*ck is Robert Glasper,” he wrote in another post.

Chris Brown reacts to losing Best R&B Album to Robert Glasper at the 65th annual #Grammys pic.twitter.com/uUcrwP2VW6

— Rap Alert (@rapalert6) February 5, 2023

The “Go Crazy” singer continued in two separate posts boasting his plans to “keep kicking yall a**! Respectfully.’

“I gotta get my skills up…I’m a start playing the harmonica,” he added.

However, social media wasn’t here for Brown shading Glasper. Many sounded off on Twitter in response to his rant.

“Robert Glasper more talent in his pinky toe than Chris Brown has ever had his whole career,” one fan wrote.

“You dont have to tear someone else down,” added someone else. “Robert had nothing to do with this, the attack on him and his talent is unnecessary.”

Others noted Brown’s overall success at award shows, which includes a Best R&B Album win for his 2013 album F.A.M.E. The “Loyal” singer has been nominated 20 times with one Grammy under his belt.

He also has four Billboard Music Awards and three iHeart Music Awards. However, Brown was hoping to win his second Grammy on Sunday for his Breezy (Deluxe) album.

Meanwhile, Glasper has four Grammys, including Best R&B Song in 2021 for “Better Than I Imagined” with singer H.E.R. His latest win for Best R&B Album for “Black Radio III”beat out Brown’s 10th studio album, Mary J. Blige’s “Good Morning Gorgeous (Deluxe),” Lucky Daye’s “Candydrip” and PJ Morton’s “Watch the Sun.”

The average nine-year-old kid is worried about playing outside or figuring out basic multiplication, however, every kid isn’t average.

Meet David Balogun, who The Guardian reported received his high school diploma from Reach Cyber Charter School in Harrisburg, PA. Balogun was taking classes remotely and has already earned some college credits. “I had to get outside of the box. Playing pillow fights when you’re not supposed to, throwing the balls in the house,” David’s mother, Ronya Balogun said. “He’s a 9-year-old with a brain that just has the capacity to understand and comprehend a lot of concepts that’s beyond his years and sometimes beyond my understanding.”

Both parents of the young genius have advanced degrees, so Balogun’s intelligence is no surprise, but David’s parents say raising a young child with intellectual gifts is challenging. His accomplishment makes David one of the youngest known children to ever graduate high school, The Guardian reported. He’s on the fast track to bigger and better things, as David already knows what he wants to do with his life.

CBS News reported the nine-year-old has already completed a semester at Bucks County Community College and his parents are trying to see where he will finish his education. “I want to be an astrophysicist and I want to study black holes and supernovas,” David said. His father is doing thorough research on which school would be a good fit for his brilliant son. “Am I going to throw my nine-year-old into Harvard while I’m living in Pennsylvania?,” David’s father, Henry, said to The Guardian. “No.”

David is very mature for his age, being gifted in other areas outside of his studies. He practices the piano and is pursuing a black belt in martial arts. The genius is also a member of Mensa, a high intelligence quotient society. His teachers call him an “inspirational kid,” and told The Guardian, they are rooting for him in his endeavors. His science teacher Cody Derr said David was “definitely one who changes the way you think about teaching.”

Jay-Z was living his best life while attending the Grammys’ celebration of hip hop’s 50th anniversary.

The 65th Grammy awards put together a star-studded celebration to honor the history and continued influence of hip-hop music, ET reported. The special segment included performances by rap icons and pioneers like Run-D.M.C., Rakim and Chuck D and Flavor Flav of Public Enemy, Ice T, Queen Latifah, Wu-Tang Clan’s Method Man, and Too $hort.

LL Cool J shared the history of the music genre he helped put on the map as one of the early stars of the genre.

“Multi-generational. Fifty years. From the Bronx to Tiktok, to the whole world. We love you, baby,” LL Cool J said.

“We started in the Bronx and ever since then it’s gone everywhere — to the Five Boroughs, to the West Coast, to the heartland, overseas, to Europe, to Africa, to Asia, TikTok. What else is next?!”

Questlove served as producer and musical director, and performed as part of The Roots. Group member Black Thought spoke power into the audience as the narrator for the segment.

Busta Rhymes and Nelly reminded attendees why their fanbases run so deep, with performances of their hits.

Others who performed included Big Boi, Spliff Star, De La Soul, DJ Drama, DJ Jazzy Jeff, Missy Elliott, Future, GloRilla, Grandmaster Flash, Grandmaster Melle Mel & Scorpio/Ethiopian King, Lil Baby, Lil Wayne, The Lox, Rahiem, Salt-N-Pepa and Spinderella, and Scarface.

Jay Z and DJ Khaled couldn’t hold back their pride and excitement, with Hova standing throughout the show and rapping lyrics with a bottle of his Dousse seated under him. Khaled held his lighter in the air throughout parts of the show.

JAY-Z is all of us watching the #Grammys hip-hop tribute pic.twitter.com/cf4MGHvAvR

— CONSEQUENCE (@consequence) February 6, 2023

https://twitter.com/AIR305/status/1622440241087782912?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1622440241087782912%7Ctwgr%5E81abeeb23b7a8175fa8b67a223efc679208ee12d%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.etonline.com%2Fgrammys-celebrates-50-years-of-hip-hop-jay-z-parties-in-the-audience-198517

Questlove revealed that Will Smith was supposed to perform at the event alongside DJ Jazzy Jeff, but was busy filming with Martin Lawrence.

“But they started shooting Bad Boys 4 this week, so he couldn’t make rehearsals,” Questlove explained. “But he wanted to do it.”

Will Smith was the first rapper to win a Grammy in the hip-hop genre.

Taking a personal day ended in a major payday for this Detroit woman.

Jamila McCaskill, a 44-year-old woman from Michigan, won a $100,000 lottery prize after deciding to take time off to relax from a “tough day.”

According to Michigan Lottery Connect, McCaskill struck big winnings after playing around on some games on her Lottery app.

“I logged in to the Lottery app to do my Daily Spin to Win and then decided to play some games,” she told Michigan lottery officials. “As I was scrolling through the different games, Diamond Payout caught my eye, so I started playing.”

A Detroit woman’s day took a turn for the better when she won $100,000 playing the Diamond Payout instant game online! ➡️ https://t.co/BtSsHQXjzc pic.twitter.com/etfGBPD3m1

— Michigan Lottery (@MILottery) February 1, 2023

Diamond Payout, an online instant game, allows players to select their ticket cost, to purchase the game. Players click on their numbers and winning numbers to reveal them, or click the “scratch all” option to reveal their entire ticket at once. Players then match their numbers to the winning numbers and win whatever prize is shown below the number.

“On only my second spin, the screen lit up and I knew I had won a prize. When I saw the prize amount of $100,000, I couldn’t believe it,” she said. “This is by far the largest prize I have ever won, and it feels amazing!”

McCaskill recently visited the Lottery headquarters to redeem her prize.

Centre Daily Times reported that after collected taxes, she pocketed $71,750.

McCaskill plans on using her winnings towards bills and paying off her home.

According to The Washington Post, studies found that people from non-white communities make up a large percentage of lottery players. Reportedly, lotteries hold their popularity amongst the Black community, who seek the game as an alternative mechanism for social mobility and an opportunity to achieve wealth.

A recent Mega Millions drawing that took place in January stood at $1.35 billion, noting it as one of the largest in American history, according to The Post.