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Black Woman Entrepreneur Raises $1 Million In Venture Capital Funding For Hair Care Company

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Eltigani founded NaturAll Club in 2015. The natural hair care subscription platform delivers fresh handmade hair products on a monthly basis. Some of the products include Fresh Avocado Deep Conditioner, Jamaican Black Castor Oil Growth Serum, and a handmade flaxseed gel. Last year Eltigani won $500,000 in a startup competition but decided to turn down the prize because it would have required her to move her Philadelphia-based company to Buffalo, New York. She wanted to wait for an opportunity that was in alignment with her brand.

Her patience paid off and she received an investment from New Voices Fund CEO Richelieu Dennis. Dennis initially made a $1 million investment and after plans for Eltigani’s company grew, he decided to invest another $4 million. Dennis is dedicated to ensuring that women of color entrepreneurs have access to venture capital funding. “The facts about investments in women of color entrepreneurs, particularly black women, are astonishing,” Dennis told the news outlet. “Entrepreneurship among women of color has increased more than 320 percent, but less than 1 percent of those women receive access to the funding needed to sustain and grow their businesses. This is unacceptable.”

Read full article written and featured @ NewOne

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Facebook commits $200 million to Black-owned businesses and organizations

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  • Facebook on Thursday announced it will commit $200 million to Black-owned businesses and organizations.
  • Facebook will also commit to increase the representation of people of color in the company’s leadership positions by 30%, including 30% more Black people, COO Sheryl Sandberg said.

Facebook on Thursday announced it will commit $200 million to Black-owned businesses and organizations.

“The past few weeks have compelled us to confront the reality of violence and injustice which members of the Black community face on a daily basis,” Facebook COO Sheryl Sandberg wrote in a post announcing the company’s initiative. “We have shared words of support for our friends, colleagues and communities. We need to take action as well.”

Read more @ CNBC.com

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HOW TO NEGOTIATE FEARLESSLY—EVEN IN TOUGH TIMES

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In her first book, negotiation guru Mori Taheripour offers readers more than a decade of expertise honed as both a faculty member at the Wharton School of Business and adviser to organizations such as the NFL and Goldman Sachs 10,000 Small Businesses program. Even in the midst of economic crisis, she insists, it’s important to negotiate—and to get creative about how.

Negotiations become more, not less, critical at times like these, when the economy is struggling and unemployment is running high. Whether you’re setting a price for your side hustle, or bargaining with clients or an employer seeking to downsize your regular pay, while you may not have much leverage in the moment, setting the stage for the comeback is key.

“It’s important to make sure that your clients don’t expect deep discounts to continue,” she says.

Read full story at Black Enterprise

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The Black Tax: Why African Americans Must Work Harder to Build Wealth

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After 400 years in this country, black families hold a fraction of the wealth of white families. And that is due, in part, to what is referred to as the “black tax.”

The term “black tax” is commonly used in South Africa, where it refers to the financial support that black professionals are expected to give their extended families. In the U.S. it also describes the racial dimensions that perpetuate a cycle of inequality such as lower pay and a lower standard of education.e

Read full article at Nasdaq

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