With $20 million invested, Diddy the entertainment mogul, is building an online marketplace to uplift Blackowned brands.
The Bad Boy Records founder and three-time Grammy winner told the wire service that despite investing $20 million into the platform, he didn’t create it with the intention of making money. “I’m not doing this for profit. This is about us,” he said of the project, which he’s been working on for years. “This is something that is for my people. It’s a tipping point for us to wake up start paying attention and supporting each other while taking responsibility and accountability.
He also believes the endeavor is about Black people retaining the wealth it generates. “It benefits the community to empower and take care of itself,” he told AP. “Right now, our dollar in the Black community doesn’t even last an hour. Most other communities and ethnic groups, they understand the power of unity. Their dollars stay in their communities for days and get passed on to other people that are like them and from their same community.
For a long time, I thought about how to create radical change. Over the years I’ve realized radical change starts with us. I’m extremely passionate about creating a platform that will show the power of unity. Through my life’s work and the different stages of success, I’ve…
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