Buy More Black Challenge: Day 18
Week 3: Leverage Your Buying Power
This Week’s Goal: Learn how to progress from loyal fan to an influencer for Black owned Brands.
Day 18: Become a Venture Capitalist or Angel Investor
Today’s Task: Read up on what it would take to become a venture capitalist or angel investor
When news broke that Travel Noire was being acquired by Blavity, I freaked! For those of you who may not know, Travel Noire is a platform for black travel enthusiasts ran by Zim Ugochukwu. I supported the brand 1. because I loved the curated content on their instagram. It had me dreaming of a full time career as a lifestyle and travel blogger and 2. A few of my college friends joined Zim’s team (Shout out to Skye, Mark and Jasmine) and I knew how hard they were working to bring great content and amazing cultural excursions to people who never believed travel would ever be an option for them. Many people saw the value and depth that Travel Noire possessed early on. So it didn’t surprise me that it’s success took off right away. Enter Blavity, one of the fastest growing digital media outlets on the web and reaches more than 7M millennials a month and is still run by its founders Morgan DeBaun, Aaron Samuels, Jonathan Jackson, and Jeff Nelson.
I was already following Morgan on instagram and had been a long time follower of Blavity’s content since it’s founding in 2014. So I knew it’s founders were young black creatives. Up until Blavity acquired Travel Noire, it never dawned on me that Black businesses could invest in other businesses in that way. Now I realize it’s essential to sustain resources in the black community.
We can buy black-owned but unless the businesses have black backers that invest in them, they will always look for more money from outside of the black community so that they can continue to grow their empire. Often, that’s where the buck ends, because of bank and venture capitalist bias against black business owners. So if you are interested in learning more about investing in black owned businesses check out these resources below: