Being “bought out” is the dream. So why are critics so loud when a Black beauty founder strikes gold? Here, five founders open up about the state of success in the industry.
in 2022. “You see tech founders raise money, sell their companies, and get cover stories in magazines. I think there’s a lot of upset about the fact that you can’t really call the company that you’ve been supporting ‘Black-owned’ anymore.”
, so investors know that they’re committed. They’ve created accelerator programs to help support Black-owned brands, so, I think that sort of 360 commitment to supporting Black founders has really created this strong ecosystem.”//But newfound industry buzz is often coupled with increased consumer demand, which can feel like a double-edged sword for smaller businesses lacking adequate resources to respond to it.
Often, when a big company acquires a brand, the brand’s founder stays on. “If you change everything, you wipe out your whole consumer base, which is exactly what they don’t want,” Price explains. “The goal is to bring that company into the fold and help the company grow,” she goes on. “Whether the founder is Black, white, or Asian, the person selling is building generational wealth for their family.
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