Marketplace.org recently posted a podcast about African-American hair salons and the entrepreneurial environment that exists within and around them. Check it out below:
[soundcloud url=”http://api.soundcloud.com/tracks/102465676″ params=”” width=” 100%” height=”166″ iframe=”true” /]
article by Lori Lakin Hutcherson
Posts published in “Business/Finance”
In a bid to shore up its mobile and Web mapping infrastructure, Apple has confirmed a purchase of Nigerian entrepreneur Chinedu Echeruo‘s (pictured) HopStop.com application. With Google buying the Israel-based Waze map application for a reported $1.1 billion, it has been rumored that HopStop’s acquisition was worth a similar amount. But thus far, Apple has not revealed the terms of the deal.
As reported by the Wall Street Journal’s “All Things Digital” blog, HopStop empowers Apple’s map program by providing access to a portion of the mapping landscape it had yet to cover: mass transit directions. The move has been seen by many analysts as the tech-giant’s largest push to compete with the industry-leading Google Maps service. In fact, Google has been providing map data to Apple since 2007.
As an entrepreneur, Echeruo has founded both HopStop and Tripology, after stints working as an analyst for J.P. Morgan Chase. Echeruo also made his mark in the hedge fund world, working for AM Investment Partners for a time. Echeruo grew up in Eastern Nigeria and was a student at Kings College in Lagos. He later came to the States to attend Syracuse University and Harvard Business School before founding his businesses.
Historic hip-hop imprint Priority Records has been given a new lease on life, this time as a producer-centric electronic music and progressive urban music label. A joint venture of Insurgency Music and Capitol Music Group, the refurbished label will be headed by Insurgency co-founder Michael Cohen, the two companies announced July 22.
Operating out of the Capitol Records building in Hollywood, the new-look Priority will officially launch in August with single “Higher,” a collaboration between hip-hop beatmaker Just Blaze, “Harlem Shake” creator Baauer and Jay Z.
As Cohen explained in a statement: “We are looking to establish the new Priority as a home for producers. The emergence of the producer as an artist and brand within the global electronic music scene and beyond has heralded a paradigm shift in the way music is created, discovered and spread. We are firm believers in nurturing artists and scenes that develop in the underground, and we intend to infuse the label with the most progressive artists we can find, wherever they may be.”
Founded in 1985 in Los Angeles, Priority first hit paydirt with novelty releases from the California Raisins, but it was as a hip-hop imprint that it truly made its mark. The label released such landmark gangsta rap albums as N.W.A.’s “Straight Outta Compton” and Ice Cube’s “AmeriKKKa’s Most Wanted,” and later forged a hugely successful alliance with Master P’s No Limit Records in the mid-1990s. Priority pacted with EMI in the 1990s and was eventually merged into Capitol.
Priority releases will be distributed by Caroline in the U.S., with parent company Universal Music Group handling international.
via Priority Records Relaunched as Electronic Music Label | Variety
Spike Lee has turned to Kickstarter to raise $1.25 million in funds for his next film. The filmmaker said the project will focus on human beings who are addicted to blood. “Funny, sexy, and bloody (and it’s not “Blacula”),” he added. Lee appealed to potential supporters by touting the film as counter to the current high-priced tentpoles.
via Spike Lee Joins Kickstarter: Seeks $1.25 Million | Variety
Black consumers are wielding power and influence in the marketplace like never before. All while spending their way to a major milestone. The Nielsen Company, a global information and research firm, projects black spending power will reach $1.1 trillion by 2015. Despite this looming thirteen-figure impact, many black consumers do not understand the full extent of their power says Cheryl Pearson-McNeil, senior vice president of public affairs at Nielsen.
“Do I think we’re interested in learning more about it? Absolutely.” Some companies struggle to tap the real power of black consumers. The lack of understanding cultural nuances of African-Americans, Asian-Americans and Latino Americans results in a general market advertising approach Pearson-McNeil explains. “The African-American community isn’t a monolithic group.”
In 2011 advertising targeting black consumers across television, radio and magazines reached $2.1 billion, according to Nielsen. This was a modest increase from the year before and was just 2 percent of the $120 billion spent on advertising that year.
If Rhys Powell gets his way, every student in America will be eating freshly prepared, nutritious meals and snacks – and his company, Harlem-based Red Rabbit, will be doing a lot of the serving. Red Rabbit’s already making some big leaps in that direction. Launched in 2005, Powell’s startup is quickly becoming a force in the healthy food for kids biz. This coming school year, Red Rabbit will be preparing and delivering 20,000 meals a day to students in more than 100 private and charter schools in the New York area.
That means many children from low-income communities will be munching on healthy items like mango yogurt parfaits and fresh fish, instead of chicken nuggets and frozen pizza. Sales at Red Rabbit are expected to double in the 2013 school year to $10 million. Two years ago, the company moved to a 10,000 square-foot facility at 121st St. and Park Ave., where Powell, 33, employs 130 workers, many of them Harlem residents.
Those kind of strides have put Powell in the spotlight: On Monday the city is set to name Red Rabbit the Manhattan Small Business of the Year in its annual Neighborhood Achievement Awards. “We are a young, entrepreneurial company that is trying to improve the food system in America, one community at a time,” Powell said during an interview at his Harlem offices.
Those kind of strides have put Powell in the spotlight: On Monday the city is set to name Red Rabbit the Manhattan Small Business of the Year in its annual Neighborhood Achievement Awards. “We are a young, entrepreneurial company that is trying to improve the food system in America, one community at a time,” Powell said during an interview at his Harlem offices.
Forbes magazine has released its annual list of the highest-paid actors in Hollywood. This year, Robert Downey Jr. topped the list with $75 million in earnings from his work in the mega-blockbusters Iron Man 3 and The Avengers. Denzel Washington and The Rock were the two performers of color to make the top 10. For 1o straight weeks in 2013 Dwayne “The Rock” Johnson had a film in the top 10 of the box office. This year he headlined hits like GI Joe: Retaliation and Fast & Furious 6. He earned a whopping total of $46 million this year, placing him at #5 on the list.
Washington is on an upswing following his 2012 hits Safe House ($126 million at the box office) and Flight ($93 million). His deal for back-end profits on the latter film, which earned $162 million worldwide on a $31 million budget, paid off for the actor. He earned $33 million last year, ranking him at #9 on Forbes‘ list. Washington is poised to capitalize on his A-list status again this summer with his highly anticipated action film 2 Guns, co-starring Mark Whalberg, which opens August 2nd.
article via thegrio.com
Every rapper takes pride in his ability to paint pictures with words. So it’s fitting that one of the world’s most famous MC’s has decided to take that ability to heart. Darryl “DMC” McDaniels, one third of the legendary group Run-DMC has decided that after years of being a fan of comic books that now is the time to start his very own publishing company, the aptly named Darryl Makes Comics.
“I’m just the bait,” DMC says to the watching crowd during his press conference at Midtown Comics. “This ain’t about a rapper starting a comic book, this is about a life-long fan!” To underline his sincerity DMC points out that in the 1985 classic “King of Rock” he proudly rhymed way back then that “I’m DMC, I can draw.”
Taking his role as publisher seriously, McDaniels has teamed up with a who’s who in the world of comic books and entertainment to guarantee a top-notch product.
In the wake of the George Zimmerman acquittal, the singer said he would not be performing in the Sunshine State until its Stand Your Ground law is “abolished.” He also said he would not be performing in any other state that recognizes the law, which some say contributed to Zimmerman’s acquittal in the shooting death of Florida teen Trayvon Martin on Feb. 26, 2012.
“I decided today that until the Stand Your Ground law is abolished in Florida, I will never perform there again,” Wonder said Sunday while performing in Quebec City. “As a matter of fact, wherever I find that law exists, I will not perform in that state or in that part of the world.” Some have argued that the law played no role in the acquittal. However, The Atlantic‘s Ta-Nehisi Coates pointed out that it was cited in the jury instructions.
Meanwhile, Wonder also called for his fans’ support of his boycott. “The truth is that — for those of you who’ve lost in the battle for justice, wherever that fits in any part of the world — we can’t bring them back,” he said. “What we can do is we can let our voices be heard. And we can vote in our various countries throughout the world for change and equality for everybody. That’s what I know we can do.” (Watch Wonder’s full announcement below.)
Protests have broken out in major U.S. cities including New York and Los Angeles since the jury rendered its not-guilty verdict last week. Recording artists including Beyonce, Young Jeezy, Wyclef Jean and Lil Scrappy have already paid tribute to Martin.
article via hollywoodreporter.com