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A cryptocurrency token tied to Ripple Labs is on the rise. What’s more, if you were compelled to invest in XRP following a private Consensus conference after-party hosted by Ripple Labs and featuring Snoop Dogg in May 2018, you’re likely on cloud nine. ICYMI: Snooperang @SnoopDogg #XRPCommunity pic.twitter.com/RWjBsKUVhI — Ripple (@Ripple) May 16, 2018 According to Forbes, the token has been fairing well, particularly after Donald Trump was elected as the 47th president of the United States. It also highlights optimism stemming from Gary Gensler’s planned departure as chair of the U.S. Securities and Exchange Commission in 2025, with anticipation for him to be replaced by a U.S. President-Elect Donald Trump appointee. The SEC sued Ripple in 2020, alleging that the company failed to register its XRP token as a security before selling it, reports Business Times. Benzinga states that XRP had seen a rise of 87% between Nov. 27 and Dec. 3, 2024. In a 24-hour period ending Dec. 3, it...
Metta Sandiford-Artest, formerly known as Metta World Peace, has entered the world of venture capital by launching his own VC firm. The former Los Angeles Lakers player expanded his focus to the VC sector after retiring from the NBA in 2017 after 17 seasons in the league. According to Sportico, Sandiford-Artest pursued a deeper understanding of private equity and finance by enrolling in digital analytics courses and working toward a master’s degree at the University of California, Los Angeles (UCLA). “I told people that I didn’t want my face to add value,” Artest told Sportico. “I wanted that to be my word and my (mind). That took a long time. There’s just so much that goes into that, especially how people perceive you. You’ll go into a meeting (before) and they’re just waiting to talk basketball.” In December 2024, Artest launched Tru Skye Ventures — in partnership with former Boost Mobile CEO Stephen Stokols. The collaboration builds on their existing business relationship, which...
Hello Alice’s steadfast commitment to supporting small businesses remained strong, even amid adversity. Founded in 2017 by Elizabeth Gore and Carolyn Rodz, Hello Alice is driven by a mission to support the growth and success of small businesses. This dedication was evident from the outset, especially when the company faced a financial setback due to the cancellation of South by Southwest (SXSW) at the onset of the COVID-19 pandemic in 2020. Instead of moving forward with a large marketing campaign as planned, Hello Alice redirected those funds to launch a grant program, offering critical support to small business owners in need during a challenging time. “It was the biggest amount of money we’d ever spent on anything at the time. And then the world shut down and there’s initially that moment of us saying, ‘Oh my gosh, like what’s gonna happen to us?’ And then we said, ‘If we’re dealing with this, and here we are that we had the luxury of having raised capital, we had investment...
Founder Craig J. Lewis is revamping his mission to empower the gig economy. As AFROTECH™ previously reported, Lewis leads Gig Wage, a fintech platform aimed at improving payroll for 1099 employees. With his background in payroll sales at Payroll Plus Inc. from 2009 to 2010 and a two-year stint as a payroll technology consultant at CyberPay, Lewis has a deep understanding of the industry, as mentioned on his LinkedIn profile. “I helped to sell ADP’s [the largest payroll company in the world] first cloud-based product called ADP Run, and that’s where it all started for me,” he told AFROTECH™ in a 2021 interview. “I’ve seen the impact that technology has on the payroll space. After reading an article about the global independent workforce, aka the gig economy, I realized that there wasn’t a payroll space for that group, meaning, people who do work for a company but the companies aren’t really designed or don’t have access to the technology to pay these type of people. These are your...
A startup dedicated to preserving African languages has secured new funding. Founded in 2022 and backed by Techstars, Lingawa was established by siblings Frank Akinwande Williams (CEO) and Yvonne Williams (COO), along with third co-founder Uche Azinge (CTO). Previously operating under the name TopSet, its inception was driven by Frank’s and Yvonne’s difficulties in learning their native language, Yoruba. “As Nigerians growing up in the UK, my sister Yvonne W and I always felt a deep connection to our heritage—but also an uncomfortable distance. We struggled to speak our native tongue, Yoruba, fluently, and with that came a sense of loss and even shame,” Williams said on LinkedIn. “There’s an unspoken belief that understanding your language is tied to understanding yourself, your culture, and your place in the world. It was a feeling we carried with us for years.” He continued, “As we grew older, we realized that this experience wasn’t unique to us. Millions of Africans, Asians, and...
Russell Westbrook is returning to familiar ground with his latest investment. The NBA player, currently with the Denver Nuggets, began his journey into the league as the fourth overall pick in the 2008 NBA Draft, selected by the Oklahoma City Thunder, reports StatMuse. He spent 11 seasons with the team, becoming its all-time leading scorer with 18,859 points, according to separate data from StatMuse. “I spent a significant amount of time in Oklahoma City, so to me, that place is very special and is like a second home,” Westbrook told Bloomberg. Driven by his love for the city, Westbrook has reinvested in the community through sports and entertainment, partnering Russell Westbrook Enterprises with Christian Kanady’s firm, Echo. His contribution is estimated to be around $10 million. “My time with the OKC Thunder shaped so much of who I am, so becoming Christian’s partner and investing in the city’s continued growth is not only exciting personally, but Echo’s Sports and Entertainment...
Floyd Mayweather Jr. is making significant moves in the real estate sector. As previously reported by AFROTECH™, the boxing world champion has invested $402 million in an affordable housing project in New York, which includes over 60 buildings with more than 1,000 units “Growing up, I used to dream about owning just one home by myself, when you work hard you can achieve anything,” Mayweather told TMZ. Mayweather’s investments in real estate also include ownership of nine skyscrapers in New York through a partnership with SL Green. “‘You see that building right there? Yeah, we own that. You see this building? We own it.’ So we was walking and walking . Then he said, ‘You know, a boxer makes money when he’s boxing. A football player makes money when he’s playing football. A basketball player makes money when he’s playing basketball.’ He said, ‘But New York real estate, you make money when you sleep.’” On Monday, Nov. 18, 2024, Mayweather also invested in a $10 billion office portfolio...
Issa Rae has opened a new restaurant in Los Angeles. The actress and serial entrepreneur , already renowned for the community-focused Hilltop Kitchen + Coffee, is expanding her presence. With the same spirit, she brings a new energy to Los Angeles through her latest venture, Somerville. “Always wanted a neighborhood lounge to complement the special community that is View Park-Windsor Hills. The genius GVO Gentlemen said, how about a restaurant? @somerville.slauson — an ode to the classic, artistic past of Black South Central L.A? And sure, the ambience will be fantastic, but the food and cocktails will keep you coming back,” Rae said in a post shared on Instagram. View this post on Instagram A post shared by Issa Rae (@issarae) Customers can visit Somerville at Park-Windsor Hills, which GVO describes as a “progressive American dining experience.” According to the restaurant’s website, its extensive menu includes the Somerville burger, pan seared ora king salmon, and Mary’s organic...
James Harden hit the jackpot thanks to an investment decision influenced by the late Kobe Bryant. During an interview on the “Earn Your Leisure” podcast, the basketball star revealed that Bryant suggested creating a pool of money dedicated to investments, including sports drink company BodyArmor. As previously reported by AFROTECH™ , Bryant had invested $6 million in BodyArmor back in 2014. “Kobe basically was like ‘W e going to put a stash of $5 million and then any like business opportunities — it might be as little as $200,000, it might be $500,000 just depending on what, you know, what investment it is. But we going to put a pot together and we just going to invest our money,’ rest in peace before he passed away,” Harden explained to “Earn Your Leisure” hosts Rashad Bilal and Troy Millings. “ But BodyArmor was the beginning of that, and we seen how it is.” While it is unclear what Harden’s direct contributions were, the investment into BodyArmor was a smart move. In 2021,...
Katt Williams has purchased land to open a movie studio. During an interview with GQ, the comedian revealed he has acquired a former military base located in Alabama. It has been confirmed by Williams’ publicist, Amy Sisoyev. “I can’t disclose the amount or exact location just yet, but I can confirm that he has purchased a former military base in Alabama,” Sisoyev said via email to AL.com. Williams shared that he aims to follow in the footsteps of other celebrities, such as Tyler Perry. As AFROTECH™ previously reported, Perry, a self-made billionaire, opened the world’s largest Black-owned studio. The studio, which Perry self-funded, reached a valuation of $280 million in 2023. Speaking of wanting to be next in line, Williams commented to GQ : “It’s just not fair to put all that pressure on Tyler Perry. He can only do so much.” At the time of this writing, it is unclear when the movie studio will break ground. Williams is part of a growing number of Black figures seeking to disrupt...
NBA star Giannis Antetokounmpo has launched a venture capital firm. According to Bleacher Report, the Milwaukee Bucks player has introduced Build Your Legacy Ventures (BYL). The venture capital firm, backed by institutional investors and tech veterans, aims to funnel investments into the sports and entertainment sectors. As noted in a press release, the firm will be “driven by the Antetokounmpo family’s dedication to fostering innovation and entrepreneurship.” “I’m incredibly energized to launch BYL Ventures as a way to give back and support the next generation of visionaries,” Antetokounmpo, founder and general partner of BYL Ventures, said in the release. “This fund is not just about capital; it’s about forging partnerships and opening my network to accelerate the growth trajectory for companies. I want to help other entrepreneurs, especially those who have faced barriers, to grow and succeed. BYL Ventures will be focused on finding people with big dreams and helping them make...
Queen Latifah is helping a Black woman-owned soul food restaurant receive a well-deserved blessing. During a taping of “Street You Grew Up On,” hosted by actress Kerry Washington, it was revealed that Latifah selected Newark, NJ-based Vonda’s Kitchen to receive a $10,000 financial award. The investment is made possible through a partnership between fintech platform Intuit QuickBooks and Washington, aimed at fostering discussions around entrepreneurship, community, and mentorship. As part of the initiative, featured guests are given the opportunity to select a small business to receive funding, according to information shared with AFROTECH™. As a Newark native, the selection was full circle and Latifah emphasized its importance, believing the funds would be well-used under the leadership of owner Vonda McPherson. According to the company website, McPherson transitioned into entrepreneurship after a corporate career with Fortune 500 companies, opening her first restaurant in 1988....
Michael Jordan has invested in a VC firm aiming to align itself with multiple unicorns. Sportico reports that Jordan has invested an undisclosed amount in the fourth fund of Courtside Ventures, a firm focused on the sectors of sports, media, entertainment, technology, and gaming. According to Crunchbase, the firm was founded by Deepen Parikh and Vasu Kulkarni. With over $200 million in assets under management, Courtside Ventures’ portfolio includes companies such as Veo (hardware and software subscription); Winzo (social gaming); The Athletic (sports media brand); and Betty (social casino platform), among others. “When we started Courtside in 2016, we did so out of desperate market need,” a statement from Courtside Ventures’ blog post reads . “Not only was there no venture fund that focused on sports, but existing VCs would run to the hills every time they saw a sports deal. This left entrepreneurs constantly having to look for alternate sources of funding, mostly from the very...
Socium has raised new funding to expand its reach within Francophone Africa. The company, founded by Samba Lo (CEO) and Serigne Seye (chief operating officer), began as a recruitment website before scaling to offer HR solutions for businesses, notes TechCrunch. Per its LinkedIn, company offerings include: Payroll management Workflow management Performance evaluation Document management “Our customers started to ask us if we had solutions for payroll, time management, and performance management. So, we decided to build a global HR platform to help HR teams manage all their processes,” Lo told TechCrunch. Thanks to Socium, more Africa-based companies can now launch their businesses within a matter of weeks in the French-speaking countries. The company also leverages artificial intelligence to vet CVs and create job descriptions, TechCrunch notes. “Focus on people means focus on performance, their evaluation and competence, and career path for each individual,” Lo added. “And for this...
Couple Felicia and Winchel Elibert are helping Black-owned businesses create wealth. According to 95.5 WSB, the pair are behind a four-acre Fayetteville, GA shopping plaza that will be home to several businesses. Winchel already owned multiple barbershops, while Felicia worked as a nurse and is the founder of several Cleansing Waters Wellness Center locations. WSB-TV Atlanta News mention that the Eliberts also owned a Smoothie King for several years. Entering new territory with the plaza was a “journey” that began with a sign located across from their Smoothie King. “Right across from our Smoothie King and Cleansing Waters location in Fayetteville, there was a sign that said land for sale,” Felicia told 95.5 WSB. “We made a phone call to ask about the land, which was at a good price. We checked with our realtor and were encourage that this was a really good investment.” For three to four years, the couple worked to develop the idea for the shopping center, which was ultimately named...