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Beyonce Reportedly Made $300 Million From Her Uber Investment

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Uber went public last week and their shares have been plummeting ever since. Despite this, singer Beyonce has still managed to score a $300 million profit from her investment. Many are wondering how this is possible since Uber’s shares plunged during the first week, closing as low as 17% below its IPO price!

Well, according to The New York Times, Beyonce received $6 million in restricted stock units (RSUs) from Uber co-founder Travis Kalanick to perform at a private company event in Las Vegas in 2015.

Here’s a little bit of information about restricted stock units (RSU). It’s compensation issued by an employer to an employee in the form of company stock that are assigned a fair market value when they vest. Upon vesting, the stock units are considered income, and a portion of the shares is withheld to pay income taxes. The employee receives the remaining shares and can sell them at his or her discretion.

So, Beyonce, although not a regular employee of Uber, was in fact “an employee” temporarily when she performed at the company’s private event. While the exact value of the shares at the time is not known, it can be assumed that the value was around $20 to $25 per share.

But when Uber’s IPO initially debuted, it started trading at $42 per share. So, if she sold her shares immediately despite the IPO plummeting, she could have easily made $300 million or more from her shares.

Another win for the Beehive!

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Black Woman-Owned Courier Company Expands Services to San Antonio

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Express Errands & Courier is one of the fastest-growing female lead companies in 2021, and their growth is not slowing down. The company currently has 11 locations and plans to expand in four metropolitan markets to include San Antonio, Nashville, Los Angeles, and Charlotte by the end of 2021.

Express Errands & Courier offers same-day delivery solutions to other 3PL’s, Auto, legal and medical industries, specializing in expedited deliveries, the “EXPRESSWAY.” Trusted by Ferrari of Atlanta, Kimberly Clark, Duke University, and MTV, to name a few – it’s clear that founder and owner Roslyn Ellerbee knows how to meet courier and delivery needs large and small. With a focus on reliable and affordable logistics solutions, Express Errands & Courier is quickly becoming one of the leading companies in the logistics industry.

Ellerbee is a professional with experience in digital marketing, business development, and entrepreneurship. Through Express Errands & Courier, she is building partnerships with businesses that propel them to the next level. Ellerbee says, “2020 has taught us that change is the seed of growth with the right strategic partnerships, your company can thrive in an uncertain economy.”

She is well known for her business sense and relatable way of communicating with her clients and partners. Express Errands & Courier consistently receives positive feedback from customers and employees throughout their service areas.

About Express Errands & Courier
Express Errands & Courier offers safe and reliable delivery and courier services in 11 convenient locations. Their friendly and well-trained staff is available to help with logistics needs and questions via their website at ExpressErrandsofJAX.com. Visit their contact page to find phone numbers for each service area, as well as an online quote form.

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Black Female Lawyer Launches Legal Fund

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Black Female Lawyer Launches Legal Fund to Support Black-Owned Businesses Using Crowdfunding to Raise Capital

Meet Elizabeth L. Carter, Esq., founder and owner of a Black woman-owned securities law firm that has launched a legal fund to support Black businesses that plan to raise capital through crowdfunding campaigns and other means. The Chicago-based firm is seeking corporate and individual contributions to the #BlackCapitalMatters Gift Legal Fund, which will help subsidize securities legal services for Black-owned businesses.

Black-owned entities, including businesses, nonprofits, cooperatives, and investment funds, that are looking to raise capital in 2021-2022, and need affordable securities legal services, can apply for the fund at ELCESQ.com/legalfund (Fund contributors who wish to receive a tax deduction can donate directly to the firm’s fiscal sponsor, the Oakland-based Sustainable Economies Law Center, at TheSELC.org/blackcapitalmatters)

There are a series of legal documents, filings, and other requirements that business owners must complete to ensure they are legally compliant before they launch their campaign. Yet many business owners may not be aware of the legal requirements and therefore put themselves at risk for penalties and costly delays.

Led by Elizabeth L. Carter, the boutique law firm is the only securities firm in the country with a mission to help Black-owned businesses navigate the legal requirements that come with raising capital. The firm often provides its services at discounted rates and has built an ecosystem of comprehensive professional support services to make it more feasible for Black businesses to raise capital. Securities law is a complex area of business law that ensures the legal compliance of raising capital from investors. Unfortunately, this complex law carries a hefty cost and is often out of the budget for the average entrepreneur.

The #BlackCapitalGift Legal Fund will allow the firm to provide legal support at below-market-rate so that more Black-owned businesses may combat the disparities in investing that they often face. Since 2015, Black and Latinx founders have received only 2.4 percent of the total venture capital raised, according to the 2020 Crunchbase Diversity Report. Due to these disparities, more and more Black-owned businesses are turning to crowdfunding to raise the capital that they need to fully launch or expand their business.

“The racial bias in financing from banks and private investors, including angel investors and venture capital firms, has caused many Black-owned businesses to turn to the general public to get the capital that they need for their businesses,” Carter said. “Oftentimes, these businesses don’t have adequate funding to pay for legal support as they launch crowdfunding campaigns. This puts them at risk of criminal and civil penalties at disproportionate rates.”

The economic hardships caused by the recent pandemic and recession have only exacerbated the need for funding among minority-owned businesses. During the first few months of 2020, 41 percent of Black businesses and 32 percent of Latinx-owned businesses permanently closed.

“Our mission is to find creative and innovative ways to counter the unfortunate reality of insufficient business capital that plague so many of our underserved businesses,” Carter said.

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Supplier Success Leads Expansion of Facebook’s Invoice Fast Track Program

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Supplier Success Leads Expansion of Facebook’s Invoice Fast Track Program, Providing Up to $100 Million for Diverse-Owned Businesses

 Supplier Success, a black-owned supplier finance consultancy, recently celebrated the expansion of the Facebook Invoice Fast Track program to financially support diverse-owned businesses across the United States.

The program, set to relaunch on October 1, 2021, will now provide tens of thousands diverse -owned companies with immediate payment for the goods and services they’ve invoiced their customers for — but would otherwise have waited months to get paid.

The announced expansion follows the completion of a successful pilot program with Supplier Success and its technology partner, Crowdz. The program was previously only available to Facebook’s own diverse suppliers.

Under the new terms of the program, Facebook has pledged up to $100 million in funding on an ongoing basis for a low, fixed fee of 1% of total invoice value. This provides diverse-owned SMBs with the affordable capital they need to invest in the recovery and growth of their companies during the COVID-19 pandemic.

Supplier Success played a key role in scaling the financing, technology, and risk management models of the pilot program, so that the expanded offering could be made available to the broader universe of diverse business member organizations. These partner organizations include the National Minority Supplier Development Council, Women’s Business Enterprise National Council, National LGBT Chamber of Commerce, National Veterans Business Development Council, Disability:IN and US Pan Asian American Chamber of Commerce.

“Facebook is going above and beyond to support as many diverse SMBs as possible during this critical time of need,” said Louis Green, CEO of Supplier Success. “We’re proud to work with them to address the urgent access to capital needs of diverse businesses nationwide.”

Diverse-owned businesses are encouraged to visit the Facebook Invoice Fast Track program to check their eligibility and get started on October 1.

About Supplier Success, LLC:
Supplier Success is a supplier finance and corporate diversity consultancy based in Detroit, MI. Supplier Success focuses on solving access to capital issues facing diverse-owned businesses, strengthening the corporate supply chain, and improving corporate diversity and procurement efforts. Founded in 2014 by Louis Green, Supplier Success, LLC is a certified minority business enterprise. For more information, please visit www.suppliersuccess.com.

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