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Following a successful social media campaign, CurlMix is now on track to become self-sustaining once more. As AFROTECH™ previously reported, the clean, natural haircare line was founded by Kim and Tim Lewis, who first appeared on “Shark Tank” with their idea in 2019 but went on to raise funds on their own. Kim announced on Nov. 1, 2025, that the company was on the brink of closing if they did not receive 20,000 orders within 60 days. It wouldn’t be the first time the brand has sought community support. They previously raised $3.6 million in a 2021 crowdfunding campaign, and three years later, an additional $5.7 million was raised in a separate campaign. In a follow-up post on the business’s health, Kim admitted the funding campaign was not enough to keep the company in operation. She described 2025 as “the most difficult year in business” in a post shared on Instagram, citing challenges such as taxes, increased tariffs, and ingredient costs, as well as shipping delays. A decrease in...
Uncle Nearest’s founders have filed a civil lawsuit against the company’s former chief financial officer, according to The Lynchburg Times. The whiskey brand has been under a receivership as a result of a July 2025 lawsuit filed by Uncle Nearest’s lender, Farm Credit Mid-America, as AFROTECH™ previously reported. The lender claims the company had defaulted on loans of more than $108 million. U.S. District Judge Charles E. Atchley Jr. appointed Tennessee attorney Phillip G. Young Jr. as receiver, so Young now manages assets such as Uncle Nearest’s distillery in Shelbyville, TN, and “real estate holdings, intellectual property, affiliated ventures, and related entities,” according to Moore County Observer. Uncle Nearest, which was the fastest-growing in America, according to Forbes’ 2024 estimates, was launched in 2017 by Fawn Weaver and her husband, Keith, and upholds the legacy of Nathan “Nearest” Green, a formerly enslaved man credited with teaching Jack Daniel how to make whiskey....
Shaquille O’Neal is making more money with his fast-food chicken chain than he did while in the NBA. NBA Career The center was drafted to the league in the first round as the first overall pick in 1992. He started out playing for the Orlando Magic and spent the majority of his career with the Los Angeles Lakers, leading to three consecutive national championship rings. In total, he won four, per StatMuse. He retired in 2011 with $286.3 million in career earnings, with $30 million earned annually at his peak, according to Entrepreneur. Business Moves After The League O’Neal’s earnings have only soared after his exit from the league through a slew of strategic decisions that have paid off, including serving as the second-largest shareholder of Authentic Brand Group; having his own investment portfolio, which includes Google; accumulating endorsement deals such as with The General and The Hershey Co.; and a business empire with an affordable shoe line that has sold more than 470...
Michael Jordan is co-owner of a Florida-based dining establishment that could soon expand. The Chicago Bulls legend and billionaire is listed as one of the founding members of 1000 NORTH, a Jupiter, FL-based waterfront private club and fine-dining restaurant that offers a panoramic view of landmarks Jupiter Inlet and Jupiter Lighthouse, Miami New Times reports. The venture is the brainchild of real estate developer Ira Fenton and Tucker Frederickson, a former athlete who played in the NFL. The location offers several separate dining experiences for guests including The Tavern, which offers modern American regional cuisine. The full-service dining room, 1000 North, also offers steaks and fresh seafood. “We wanted to give guests something they can’t find in our area – an experience many people travel to Miami or New York to get,” Fenton said on the company’s website. “We’re bringing that to Jupiter, and topping it off with a beautiful waterfront view of the Jupiter Lighthouse. Those...
Actor Mike Colter, known for portraying Luke Cage in Marvel shows like “Luke Cage” and “Jessica Jones,” has launched a haircare venture inspired by his children. While traveling in Europe with his wife, Iva, they were scouring the area for products for their daughters who have mixed-textured hair. After running into the issue time and again with no luck, one of their daughters suggested they create their own products. For Colter, the idea didn’t feel far-fetched, especially considering the expertise of his wife, whom he describes as having “business acumen” in a conversation with Forbes’ senior writer Jabari Young. Iva previously served as Netflix’s vice president of talent acquisition and is now chief people officer for the Wonder Project, according to information on her LinkedIn. “She thought, ‘Let’s try it. Let’s see first can we engineer and find the right products that we can actually stand behind that are sustainable, that are paraben-free, that are vegan , that don’t have any...
After more than a decade as an entrepreneur, resilience defines Pinky Cole Hayes’ testimony. In 2014, she launched a restaurant in Harlem, NY, called Pinky’s Jamaican and American Restaurant at a time when she didn’t know “the first thing about business,” she admitted on “Sway’s Universe.” The venture attracted lines of customers down the block. However, a grease fire caused her to lose her entire restaurant. Slutty Vegan But, it didn’t diminish her spirit. Her next foray was Slutty Vegan, a plant-based fast-food chain founded in 2018 that currently has about six locations, including in her hometown of Baltimore. In 2022, the company was valued at nearly $100 million following a $25 million Series A funding round. The venture led to locations on the campuses of Georgia Institute of Technology and Spelman College, as well as in Texas — all of which have since closed. As AFROTECH™ previously reported, Cole Hayes was tested to the limit by several challenges, including accruing $20...
The founders of Black Paper Party are in a state of gratitude for surviving 2025. Founders Madia Willis, J’Aaron (Jae) Merchant, and Jasmine Hudson launched Black Paper Party in 2020 out of Arkansas as a holiday brand that designs, licenses, and manufactures inclusive products for Black families. By 2024, the brand hit $1.4 million in revenue, according to Inc, and had been shelved in retailers such as Walmart, Target, Macy’s, Dollar General, and Family Dollar. Regarding support from customers, Merchant told AFROTECH™, “They’ve stuck with us, tried and true, made us a part of their holiday traditions. Even with everything that’s going on, they’re still looking to us for their little pockets of joy. So we couldn’t be more grateful.” 2025 Challenges This September marked five years for Black Paper Party. As the business expanded, the founder trio had to consider factors such as rising tariffs. Fortunately, they had infrastructure in place, which lowered the tariff burden, said Willis,...
Uncle Nearest’s founders are requesting the receivership to be terminated, according to The Lynchburg Times. As AFROTECH™ previously reported, Uncle Nearest — a whiskey brand that reportedly surpassed a $1 billion valuation — was placed under receivership in August 2025 following claims by its lender, Farm Credit Mid-America, that the company defaulted on more than $108 million in loans . The Weavers allege that Uncle Nearest’s former chief financial officer, Mike Senzaki, exaggerated barrel inventory, which led to a $24 million credit increase from Farm Credit, per AFROTECH™. U.S. District Judge Charles E. Atchley Jr. appointed Tennessee attorney Phillip G. Young Jr. as receiver. Young now oversees Uncle Nearest’s Shelbyville, TN, distillery and its “real estate holdings, intellectual property, affiliated ventures, and related entities,” according to the Moore County Observer. On Nov. 24, the Weavers filed an emergency motion to prevent the receiver from taking any further actions...
Beauty trend setter Pat McGrath is exploring an asset sale of her beauty company. Pat McGrath Labs was founded in 2015 and launched its first product, Gold 001, a gold-pigmented mixing liquid used on eyes, lips, limbs, or lashes. It “sold out in record-breaking time” following its launch on social media, according to the brand’s website. One thousand units sold on the site in six minutes, Modaes reported. The brand is sold at retailers including Sephora, Ulta, Nordstrom, Bluemercury, Bergdorf Goodman, Harrods, Revolve, and Selfridges, notes the brand’s website. At Selfridges, it became the retailer’s best-selling beauty brand after launching in stores in April 2019. McGrath’s makeup looks have also appeared on runways for Dior, Prada, Gucci, and Balenciaga, per Pat McGrath Labs. McGrath has served as British Vogue’s beauty editor-at-large since 2017, as AFROTECH™ previously reported. In 2018, Pat McGrath Labs reached a $1 billion valuation, supported by a $60 million investment from...
Mike Tyson has filed a lawsuit against his former cannabis business partners. Tyson owns a venture-backed cannabis brand called Tyson 2.0, as AFROTECH™ previously told you. Tyson also acquired Ric Flair Drip, Inc. in 2022 to commercialize pro wrestler Ric Flair’s intellectual property, leading to the launch of cannabis products featuring Flair’s likeness. Front Office Sports reports Carma HoldCo Inc. and LGNDS partnered to distribute products from Tyson 2.0 and Ric Flair Drip. Tyson also assumed the role of Carma’s chief executive officer in April, according to a press release. “Carma HoldCo was built on the belief that powerful stories and even more powerful products can change how people connect with wellness, entertainment, and culture,” said Tyson in the release. “This isn’t just a title — it’s a responsibility I take seriously. I’ve wanted to be more involved for a long time, and now is the right time to take that step. I’m fully committed to making sure everything we create...
Emma Grede always wants to operate from a place of authenticity and intention. During a panel held on Saturday, Dec. 6, for Saint & Citizen’s Saint Week at the Rubell Museum in Miami, FL, which brings together artists, designers, musicians, and thinkers who are innovating within the fashion industry today and for its future, she reflected on her identity and its role in shaping who she is today. Grede comes from Trinidadian and Jamaican roots and was raised by her Jamaican stepdad’s family. “So much of my identity was forged by the stories and the things that I’ve heard. And then of course, as a human being, you evolve. You evolve into a new identity. And I’d be lying if I said that so much a part of who I am today has come from me really spotting who I wanted to be, and being at conflict with that at times. When you grow up in a place like I did, you don’t always want to be that,” she shared on the panel. “I think that I had a really big vision and idea of what I wanted to be in...
Kimora Lee Simmons’ business empire is not to be played with. Modeling Simmons today wears many hats in the industry, but one of her earliest was as a supermodel. She began modeling at 13 when she signed with the house of Chanel by Karl Lagerfeld, according to WWD. Chanel was her first casting, and she moved to Paris at the time. However, she had to make the move alone because her mother wasn’t able to go with her, She was working for the government in social security at the time. “I was homesick. I was running up $5,000 a month phone bills,” Lee recalled on “The Skinny Confidential” podcast. Simmons remained under contract with Chanel. She acknowledges that times were hard, but she wasn’t happy with her life in St. Louis. She ultimately chose a lifestyle of being surrounded by supermodels at 31 Rue Cambon, Chanel’s headquarters. She has also walked the runway for Armani, Fendi, Valentino, Tracy Reese, Isaac Mizrahi, and Marc Jacobs, WWD reports. Simmons did want a game plan to...
Tyra Banks is reportedly being sued for her ice cream venture. As AFROTECH™ previously reported, the supermodel and her mother always shared a love for ice cream, which inspired Banks to open an ice cream truck in Dubai, United Arab Emirates, that also shipped pre-packaged pints to the U.S. SMiZE & DREAM From there, Banks expanded the business. In June, Banks opened up an ice cream shop called SMiZE & DREAM in Sydney, Australia, which was a sweet surprise for her mother, Carolyn London. “The woman who gave me everything, even when she had nothing left to give. And here we are, in front of the wildest dream I’ve ever built: An ice cream paradise come to life. Her strength. Our long journey. One massive dream, scooped into reality,” Banks wrote on Instagram. View this post on Instagram A post shared by Tyra Banks (@tyrabanks) A month later, it was announced that Banks was bringing SMiZe & DREAM to Washington, D.C. As AFROTECH™ previously reported, the ice cream shop was set to carry...
Shiloh Luckey is under federal investigation for allegedly mismanaging millions of dollars in venture capital funds. Luckey, who formerly went by Shiloh Johnson, is the founder and CEO of ComplYant, a Los Angeles-based tax management platform for small business owners. She claims she launched the company after observing the pain points that small businesses can experience while she was working as a Certified Public Accountant (CPA). “I saw firsthand how small business owners struggle with managing their tax deadlines. Running a small business is hard enough already, and on top of everything entrepreneurs have to manage, late fees and fines are the last things they need,” Luckey said in a news release. “ Tax compliance is fragmented and complex, so it’s no wonder small business owners find it difficult to navigate. It’s time we make it much easier to do the hard stuff better.” The statement was shared in a news release announcing a $5.5 million seed round that closed in 2022, led by...
Darrell Spencer is shattering various glass ceilings. The Chicago native credits his hustling nature to his parents. His mother works as a postmaster for the United States Postal Service. His father worked for the Chicago Police Department and rose through the ranks to become a commander before retiring. His father also has a real estate portfolio, which was an additional stream of revenue for the family and was an early sign for Spencer that there are other financial paths to follow outside the confines of corporate America. Working In Big Tech After completing a bachelor’s in economics at Connecticut College on a full-tuition national scholarship, Spencer got a job in finance but later pivoted into big tech. He has worked at Facebook, Google, Pinterest, and LinkedIn within their customer sales department in advertising, he told AFROTECH™. Still, he felt called to entrepreneurship. “I helped them generate millions of dollars in revenue through a strategy across each different...