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Killer Mike’s Digital Banking Platform, Greenwood, Raises Nearly $40 million in Funding From Investors

Killer Mike’s Digital Banking Platform, Greenwood, Raises Nearly $40 million in Funding From Investors

By goodblacknews on March 29, 2021

[Photo: Killer Mike, Andrew Young, Ryan Glover via bankgreenwood.com]

Greenwood, the digital banking platform introduced last year by co-founders activist/rapper Michael “Killer Mike” Render and Bounce TV President Ryan Glover, has raised almost $40 million in Series A funding since its website launched in October 2020, according to a joint announcement last week.

The burgeoning financial startup — named for the Black business district in Tulsa, Oklahoma that existed in the early 20th century (before the 1921 Tulsa Massacre) and earned the nickname “Black Wall Street” — received investments from Truist Bank, Bank of America and JPMorgan Chase, PNC, Wells Fargo, Mastercard, Visa, and SoftBank, six of the seven biggest banks among others on a growing list of major financial institutions now invested in Greenwood.

https://youtu.be/xVbXaP-zHlE

“The net worth of a typical white family is nearly ten times greater than that of a Black family and eight times greater than that of a Latino family. This wealth gap is a curable injustice that requires collaboration,” said Greenwood Chairman Glover.

“I am elated that many of the world’s top fintech companies have invested in Greenwood and join us in this mission. The backing of six of the top seven banks and the two largest payment technology companies is a testament to the contemporary influence of the Black and Latino community. We now are even better positioned to deliver the world-class services our customers deserve.”

Greenwood delayed its planned January 2021 launch date because of overwhelming demand after more than 500,000 people signed up for an account before launch.

To learn more and join the Greenwood community and product waitlist, visit www.bankgreenwood.com. 

Morehouse College and Spelman College Co-Create Center for Black Entrepreneurship with $10 Million in Funding from Bank of America

Morehouse College and Spelman College Co-Create Center for Black Entrepreneurship with $10 Million in Funding from Bank of America

By goodblacknews on March 20, 2021

According to jbhe.com, the Black Economic Alliance Foundation, HBCUs Spelman College, Morehouse College and Bank of America have announced plans to develop the Center for Black Entrepreneurship, the first-ever academic center to assemble, educate, and empower a new class of Black entrepreneurial talent.

The Center for Black Entrepreneurship is powered by $10 million in funding from Bank of America and will be co-located on the Spelman and Morehouse campuses. The Center will support the development of an academic curriculum, faculty recruitment, co-curricular programming, and the development of new physical space.

Mary Schmidt Campbell, president of Spelman and part of the Black Economic Alliance said “our students will learn to build strong businesses and create wealth for their families and their communities, all while obtaining a first-rate liberal arts education. We’ll hire top-tier faculty, support our students financially, continue to grow co-curricular programs that offer real-world experience, and offer courses online for those adults who are already in the workplace.”

In addition, the CBE will allow current student-run initiatives, like Spelman’s Entrepreneurship Club and the Black Venture Capital Consortium, as well as popular programs like Spelpreneur, to create a stronger network of young leaders.

“As an alumna of Spelman College, I know firsthand the lasting and meaningful impact the institution can make on its students and surrounding community,” said Cynthia Bowman, chief diversity and inclusion and talent acquisition officer for Bank of America. “This collective partnership will work to eliminate existing barriers by providing unique opportunities to Black entrepreneurs, ultimately fueling Black innovation and economic mobility within the next generation.”

The CBE seeks to eliminate the access barriers among Black entrepreneurs, professional investors, and business builders by leveraging education, mentorship, access to capital and opportunity.

Read more: https://www.jbhe.com/2021/03/the-center-for-black-entrepreneurship-established-at-morehouse-and-spelman-colleges-in-atlanta/

https://www.spelman.edu/about-us/news-and-events/news-releases/2021/02/22/bank-of-america-supports-creation-of-new-center-for-black-entrepreneurship-at-spelman-college-and-morehouse-college

[Photo credit: spelman.edu]

Goldman Sachs Commits More Than $10 Billion in Investment and Philanthropic Capital to One Million Black Women Initiative

Goldman Sachs Commits More Than $10 Billion in Investment and Philanthropic Capital to One Million Black Women Initiative

By goodblacknews on March 11, 2021

The Goldman Sachs Group, Inc. announced a new investment initiative yesterday of more than $10 billion to advance racial equity and economic opportunity by investing in Black women.

The initiative, One Million Black Women, is named for and guided by the goal of impacting the lives of at least 1 million Black women by 2030.

It is being shaped by Black women within Goldman Sachs, alumna of the 10,000 Small Businesses program and partnerships with Black women-led organizations such as  Alpha Kappa Alpha Sorority, Inc., Delta Sigma Theta Sorority, Inc., Zeta Phi Beta Sorority, Inc., Sigma Gamma Rho Sorority, Inc., National Council of Negro Women, Power Rising, Black Women’s Roundtable and the National Coalition on Black Civic Participation, Walker’s Legacy Foundation, Sistahs in Business Expo, and The Links, Inc.

“This initiative is transformational,” said Melanie Campbell, Convener of the Black Women’s Roundtable and President and CEO of the National Coalition on Black Civic Participation, a partner with Goldman Sachs on the program. “What Goldman Sachs is doing has the potential to materially impact the lives of Black women, their families and communities across the country.”

The investment will be grounded in the voices and experiences of Black women. Goldman Sachs and its partners will commit $10 billion in direct investment capital and $100 million in philanthropic capital over the next decade to address the dual disproportionate gender and racial biases that Black women have faced for generations, which have only been exacerbated by the pandemic.

Black women leaders across Goldman Sachs developed and will continue to lead this initiative alongside an Advisory Council of Black leaders, including:

“Our newly published research, Black Womenomics, suggests that no investment could have a bigger impact than unlocking the economic potential of Black women,” said David M. Solomon, chairman and CEO of Goldman Sachs.

Harriet Tubman Inducted into Military Intelligence Corps Hall of Fame; Back on Track to Grace the $20 Bill

Harriet Tubman Inducted into Military Intelligence Corps Hall of Fame; Back on Track to Grace the $20 Bill

By goodblacknews on February 13, 2021

by Lori Lakin Hutcherson (@lakinhutcherson)

On Veteran’s Day in 2018, I posted the following to the Good Black News Facebook Page with the photo above:

This is Harriet Tubman in her later years. She lived into her early 90s and of course is best known for leading over 400 enslaved people to freedom as a conductor on the Underground Railroad.

What is less well known is that during the Civil War she worked as a scout and spy for the Union Army, and was the first woman to lead an armed expedition in the war by guiding the raid at Combahee Ferry, which liberated more than 700 slaves.

So GBN honors this Veteran on Veteran’s Day (observed), her grit, her bravery, her purpose. A true American hero who should be on our $20 already!! #patriot#americanhero #veteransday

As this nation continues to reckon with so much of its unexamined history, it is heartening to report that according to The Washington Post, Harriet Tubman has been inducted into the Military Intelligence Corps Hall of Fame.

The conceptual design of a new $20 note produced by the Bureau of Engraving and Printing during the Obama Administration depicting Harriet Tubman.

Additionally, the Biden administration committed in late January to speed up the process to get Tubman on the $20 bill as the Obama administration sought to do by the year 2020 (the plan was not carried out by former U.S. Treasury Secretary Steven Mnuchin.

This week, Senators Jeanne Shaheen (D) and Ben Sasse (R) in a show of bipartisanship sent a letter to current Treasury Secretary Janet Yellen to make the case that America’s currency should reflect the diversity of the nation.

No date for the issue of the Tubman $20 has been released as of this publication. Update to come.

Apple Launches New Racial Equity and Justice Initiative Projects Nationwide

Apple Launches New Racial Equity and Justice Initiative Projects Nationwide

By goodblacknews on January 13, 2021

[Photo courtesy apple.com: Jared Bailey, a senior at Morehouse College, has integrated Apple’s coding and creativity curricula into his public health and community service work as part of the school’s partnership with Apple, a collaboration that is expanding further with the launch of the Propel Center.]

Today, Apple announced a set of major new projects as part of its $100 million Racial Equity and Justice Initiative (REJI) to help dismantle systemic barriers to opportunity and combat injustices faced by communities of color.

These efforts include the Propel Center, a first-of-its-kind global innovation and learning hub for Historically Black Colleges and Universities (HBCUs); an Apple Developer Academy to support coding and tech education for students in Detroit; and venture capital funding for Black and Brown entrepreneurs.

“We are all accountable to the urgent work of building a more just, more equitable world — and these new projects send a clear signal of Apple’s enduring commitment,” said Tim Cook, Apple’s CEO.

“We’re launching REJI’s latest initiatives with partners across a broad range of industries and backgrounds — from students to teachers, developers to entrepreneurs, and community organizers to justice advocates — working together to empower communities that have borne the brunt of racism and discrimination for far too long. We are honored to help bring this vision to bear, and to match our words and actions to the values of equity and inclusion we have always prized at Apple.”

Black LA firm Lendistry selected by California to Disburse $500 million in COVID Relief Funds

Black LA firm Lendistry selected by California to Disburse $500 million in COVID Relief Funds

By goodblacknews on December 30, 2020

[Photo: Everett K. Sands, Lendistry Founder and CEO via Lendistry.com]

The state of California has selected Lendistry, a Black-led-and-operated financial firm in Los Angeles, to administer the disbursement of $500 million in COVID-19 grants to California small businesses and non-profits.

The California Office of The Small Business Advocate (CalOSBA) has stated that small businesses and non-profit organizations across California which have been affected by the COVID-19 pandemic can begin submitting applications for relief grants ranging from $5,000 to $25,000 from now until Jan. 8, 2021 at careliefgrant.com.

To quote from the San Francisco Bay View:

“As an organization dedicated to efficiently providing capital to underserved small businesses, and with a deeply experienced senior management team that mirrors the diversity of our home state of California, Lendistry is proud to partner with the CalOSBA in this bold and critical effort,” said Everett K. Sands, Lendistry’s founder and CEO.

Sands, who has broad experience in small business and commercial lending, says since the onset of the COVID-19 pandemic, Lendistry has assisted over 19,000 small businesses in a dozen states. The organization has also deployed nearly a half-billion dollars in capital.

“We are bringing the full force of our technology, expertise and relationships with partner CDFIs and community organizations to bear on CalOSBA’s landmark commitment to California’s small businesses,” he said.

UPS Finally Ends Ban on Natural Black Hairstyles and Beards

UPS Finally Ends Ban on Natural Black Hairstyles and Beards

By goodblacknews on November 13, 2020
According to cnn.com, United Parcel Service (UPS) finally is lifting several strict rules on how employees who interact with the public — mostly the delivery drivers — can wear their facial hair and hairstyles.
To quote from CNN.com:

The changes relax the strict limits on facial hair (no beards for most employees, and mustaches limited to above the crease of the lip), how long men could wear their hair (nothing longer than collar length) and hairstyles (no Afros or braids). While styles still must be business-appropriate and not pose a safety concern, those specific limits have been eliminated.

The UPS changes also include the lifting of gender-specific regulations, including rules like the length of the uniform’s shorts. The new rules, first reported by the Wall Street Journal, were posted on an internal company web site for employees.

“These changes reflect our values and desire to have all UPS employees feel comfortable, genuine and authentic while providing service to our customers and interacting with the general public,” UPS said in a a statement, adding that the company is “determined to continue to make UPS a great place to work for all of our more than 500,000 employees around the world.”

UPS had faced criticism that its appearance rules, particularly the hair guidelines, amounted to a form of discrimination. In 2018 it agreed to pay a $4.9 million fine and enter into a consent decree with the Equal Employment Opportunity Commission to allow greater freedom to wear beards and long hair by those who filed for a religious exemption.

UPS is likely also motivated to make the changes due to the need to add more staff to handle the increase of packages being sent because of the surge in online shopping due to the coronavirus pandemic.

To read more: https://www.cnn.com/2020/11/11/business/ups-end-beard-ban/index.html

 

Issa Rae Joins Sienna Naturals Hair Care Company as Co-Owner and Spokesperson

Issa Rae Joins Sienna Naturals Hair Care Company as Co-Owner and Spokesperson

By goodblacknews on September 29, 2020

According to harpersbazaar.com, Insecure creator and star Issa Rae will serve as the face of the Sienna Naturals and join founder Hannah Diop as co-owner of the brand.

Rae, who showcases the versatility of natural hair in her award-winning HBO series, is a friend of Diop’s and respects Diop for creating and promoting a clean beauty brand for Black women.

To quote harpersbazaar.com:

“I’ve known Hannah for a long time, and I got to see the brand evolve from her home. It’s expanded so much beyond that. The care and the research that has gone into this natural, safe, healthy brand, I knew that I wanted to be involved,” [Rae] explained in a statement. “We get coerced into manipulating our hair into styles not right for us, or using damaging products. I have an opportunity to make hair care digestible via my sense of humor, my openness to my own hair struggle.”

Sienna Naturals, the eco-conscious natural hair brand beloved for its toxic-free hair care products is returning with larger product sizes, accessible price points, and updated packaging. What’s more, the brand will also introduce Salon in a Box, which is packed with everything you need to make your wash day as seamless as possible.

You can sign up for the pre-launch waitlist and updates on future Sienna Natural launches here.

Read more: https://www.harpersbazaar.com/beauty/hair/a34151971/issa-rae-co-owner-sienna-naturals-hannah-diop/

“Being Mary Jane” and “Girlfriends” Creator Mara Brock Akil Signs Overall Deal with Netflix

“Being Mary Jane” and “Girlfriends” Creator Mara Brock Akil Signs Overall Deal with Netflix

By goodblacknews on September 14, 2020

Mara Brock Akil, the creator and writer/producer behind such hit series as Being Mary Jane, Black Lightning, Girlfriends and The Game and has signed a multi-year overall deal with Netflix to create new original content, according to Deadline.com.

The deal was announced the same week that Akil’s beloved comedy Girlfriends debuted on Netflix, marking the series’ 20th anniversary. All eight seasons of the sitcom starring Tracee Ellis Ross, Golden Brooks, Persia White and Jill Marie Jones join The Game on the platform.

“We are thrilled to welcome Mara Brock Akil to Netflix,” said Channing Dungey, VP Original Series, Netflix. “Her signature storytelling, authentic perspective and captivating characters have long entertained audiences and proven to be relevant, timely and endlessly engaging. We look forward to bringing her distinct voice, vision and passion to our global members.”

Akil becomes the latest showrunner to sign with Netflix and joins a roster of powerhouse content creators that includes Shonda Rhimes, Kenya Barris and Ryan Murphy,  among several others.

(Mara Brock Akil; Photo by Emma-Feil via Netflix)

Halle Berry Sells Her Directoral Debut “Bruised” to Netflix for $20 Million

Halle Berry Sells Her Directoral Debut “Bruised” to Netflix for $20 Million

By goodblacknews on September 11, 2020

(Photo from “Bruised” via TIFF)

According to Variety.com, Academy Award-winning actress Halle Berry landed a $20 million distribution deal from Netflix for her directorial debut of “Bruised.” 

Berry’s “Bruised,” still in the process of completion, is screening on Saturday at the Toronto Film Festival (virtually, of course). Berry also stars in the dramatic feature about “a washed-up MMA fighter struggling for redemption as both an athlete and a mother.”

The film was written by Michelle Rosenfarb. Producers on the project include Basil Iwanyk, Brad Feinstein, Guymon Casady, Erica Lee, Paris Kassidokostas-Latsis, Terry Dougas, Linda Gottlieb and Gillian Hormel.

As of yet there is no set release date for when the movie will appear on the streaming service.