How I Raised $12 Million For My Media Start-Up
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- Опубліковано 2 бер 2021
- Blavity’s razor-sharp founder Morgan DeBaun has an incredible backstory-she was an early investor in Tesla and Facebook, graduated at the top of her class at Washington University in St. Louis, MO, and was hired off of a LinkedIn post at Intuit in Silicon Valley where she quickly rose through the ranks. Then she left it all to start a media company geared toward Black millennials called Blavity-and she did all of this before her 30th birthday.
There were several factors that were building up to her decision to leave Intuit, but the final straw came on the day Mike Brown was killed by a police officer in Ferguson Missouri and she was dismayed by the lack of coverage by Black media as the story broke.
She teamed up with her friends Aaron Samuels, Jeff Nelson and Jonathan Jackson (who has since transitioned out of the company). But soon she found another challenge-less than three percent of women get venture funding each year, and for Black women- it’s less than one percent.
Despite all odds, here’s how Morgan DeBaun built an influential media empire reaching one of the most important and overlooked groups of our day-Black millennials.
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How I Built Blavity, A Media Empire for Black Millennials
Keeping your current job while bootstrapping your own path is the ideal way to go. Less risk, and more money to invest in your dream.
oh okay
That's right. After that compulsory 9-5 shift, or whatever hours you are scheduled in at your default job.
Go home and spend at least 3 hours on your own projects!
Is one way but not ultimately the best way, I know people who burned the bridge and they suffered for a moment but say that their best decision ever
Do you think Jeff Bezos or Mark Zuckerberg had to bootstrap? No they didn't. She only had to bootstrap because she didn't have any VC's to back her up. Most businesses fail because of the bootstrapping they don't have the income to focus 100% on their startup.
Keeping your current job while bootstrapping your own path is the ideal way to go. Less risk and more money to invest in your dreams.
If you're reading this you have potential to create great things, you were put on this planet for greatness. Yes. You.
Thank you, bless you 🙏🏼💖
Stop lying to me!
I receive that. Thank you
thank you
Being poor is hard.
Getting rich is hard.
Choose your hard.
❤️
I’m digging this statement
What about getting poor?
@@user-vi4xy1jw7e if you get poor, that means you weren’t before and should be able to lift yourself back up.
She was never poor though - 350K in your bank account at the age of 24 is super impressive.
She's so dope. Keep grinding to all of my fellow Black startup founders and CEOs.
She is incredible, huge respect. The media space is incredibly difficult to crack and not a lot of media sites are actually profitable.
With ad blockers certainly being amongst the biggest problems for the industry.
If ADs were made the Ryan Reynolds does them, I wouldn't use Ad Block
@@Belioyt He is incredibly talented - I agree.
"i just didn't want that to be my legacy" felt that
Right ?
Lol i just laughed hard when she said that. Sure he has a point but she also has a point. Sigh
I literally just said 'fair enough' when she said that😆...its not on anybody's shoulders if they dont want it
When she said it
Smart Dad, smart daughter ❤️ thank you for sharing her story. $250k at 24? Wow!
Shame this only has 30k views and videos with 6 figure salaries automatically get 100k. This is what you actually need that entrepreneurial spirit.
Shame...? Ha... Why shaming?
Has 105k views... That's a lot for just three weeks since your comment. Expecting millions of views on the first day with a finance video is unrealistic. Most people watching Jake Paul or some other crap lol
@@BetterYouNow Thats her point, its unfortunate either way
I had no idea she was from my city. As someone who grew up in affluent west county i get what she has gone through. Shes the true definition of black girl magic!
#STL 💚
she is not even black... german here. nobody here in germany considers people who look like her black. interesting if its still the case in the us
@@amirfigo in the US she is Black. To make a long story short, there used to be something called the "one drop" rule meaning if someone had any African heritage they were Black. Even people with one Black grandparent are concidered Black (or mixed or biracial but still Black)
Sooo inspiring! As a black woman working in technology in Corporate America, I truly commend her. I'm still trying to figure out my exit, but I'm next 💪
GOOOD LUCK
@@admiralbeluga6438 thank you!
Don't quit your day job which provides the food on your table. Rather come home and invest 3 hours in your projects.
yessss im remembering ur name don't give up
all the best
An Asian-American here. I am rooting for your success and I know that your company will soar higher and it'll become a bigger one - mark my word!
Love this story! I definitely love that her parents helped her invest at a young age.
As a south african living in germany now for 6 years, i have a better understnding of how important this is.
Being black and a minority, thats a tough life to live.
This video gave me goosebumps. Videos like this deserve to be viewed more. Gutsy, inspirational, brave and pioneering.
More content like this is desperately needed.
I went to Afro Tech. Great people.
I love Blavity! Such a great resource for black people. I'm happy to hear her story highlighted here.
This is such an inspiring story. Her mindset and her drive are truly incredible and she shows that closed doors don’t have to mean the end of your dream.
I love success stories like this. Keep winning. I hope everyone that reads this creates financial freedom.
I am really inspired by this. This is so close to what I want to do with my career. Great job! Following Morgan now!
Had no idea she started Afro Tech, pretty dope!
I love the idea! Bucking against the trend and starting a media company in California takes some guts! Good luck!
Never heard of, but you go girl, make your bag.
Roland Martin Unfiltered covered Micheal Brown extensively. I believe, he was the only Black media - Black owned not just Black content focused, media company.
So inspirational! Loved this!!! ❤️
This woman is incredible......we need to learn from her.
Thanks for sharing this
She raised 12 million but is the business itself successful and making money?
Oh man, this makes me so happy. I want to publish my digital art prints but I’m so nervous. This is inspiring tho
“ I don’t wanna push but what about the fact that the next young black woman that comes to intuit would’ve seen you as a VP?”
“Sure, I just didn’t want that to be my legacy”
She said that soooo well! If it’s not what she wants, she shouldn’t have to be burdened by it simply because it’s an opportunity presented to her, happy she could comfortably make that decision.
wow thanks for sharing Morgans story and doing this interview amazing work and inspiration right here!
This is a prime example of Black Excellence you did that Sis This is Incredible Success. 🙌🙏🙏🙏🔥💜Goooooo Morgan💜💜💜💜🐐
“Sure, I just didn’t want that to be my legacy” -this woman knows what she wants.
This girl is amazing and deserves all of the success she gets!
Totally agree.
Facts
Yes, This Woman is incredible✨
The term “Black and Brown” is problematic and most confusing and I recommend it not be used by people classified as black. Most people classified as black are “Brown” so exactly what are we talking about?
What we are talking about is being mistreated because we are not White, that should just be clearly stated to lessen the confusion. Great inspirational video. I wish her continued growth and success in her business ventures.
Why are we capitalizing white and black now
@@runfunmc64 That’s a question better presented to your government. On the Census, Racial categories are capitalized, I presume the government puts a high importance on Racial Classifications if I had to guess.
@@lessconfused5179 every white business needs to put mayo and white in their names to show as much pride in their race as she does her race.
@@tangiblemammal5273 Ok. I wouldn’t think that would be necessary since the majority of businesses are White owned, at least if we are counting profitable businesses.
As far as the created concept of Race. There is only one Race and that is the White Race. The only reason to be a member of any Race is to practice Racism. White people are the only people who have the ability to practice Racism. Race is Racism. If you are in a Race, you are a Racist! I am not a member of any Race, nor have I ever been asked to join a Race. I have been victimized by Race.
Your name is so ironic. You need to go outside and touch some grass, you've lost the plot...
❤️❤️❤️❤️❤️❤️❤️ thank you so much for sharing your story. As a St. Louisan, this touched me more than words can say.
This video makes me so proud of my people we have been fighting just to be recognized. It's a beautiful moment when we are so thank you for interviewing her.
She’s awesome! So inspiring!!
THank you for blessing us with this content 🙌🙏
Been subscribed to the Blavity email list for years. Keeps me updated on many issues that the MSM generally is apathy to.
Love this story! Actually made me cry. WE LOVE YOU MORGAN AND TY FOR LOOKING OUR FOR YOUR OWN PPL XO
*Love to see awesome black folk doing it big. Keep going Morgan!*
I've been following Morgan and Blavity for a while now. She is AMAZING!! 🔥🔥🔥
Great interview
She’s such a visionary!!!! Love this. Thanks for sharing her story. 🤗
This is very inspiring and eye opening! 💯
I love Blavity!! This was so inspiring to watch! I recommend Travel Noire Next!
so glad you enjoyed it! Blavity Inc. owns Travel Noire :)
Love it. You are truly inspiring!
As a black entrepreneur and scholar, I felt this! Awesome story!
wow i love this so inspiring bravo. keep sharing stories like this i had no idea
wow love love love this interview
Amazing interview thanks for sharing!
Well done 🙌🏽👏🏽👏🏽👏🏽
Awesome interview! When the interviewer asked, "What about the next black woman that could've seen you as a VP?" and she said "I didn't want that to be my legacy". I felt that. It reminds me of the Blackish episode where Rainbow is trying to figure out why her mentee didn't want to follow her steps.
Such an inspiration to all people that are feeling marginalized, this is so much greater than one color
This is wonderful. Thank you Ms. DeBaun! #STL 💚
Greatly appreciate Morgan's tenacity, honesty, generosity of spirit and intelligence.
Valuable insights!
Thanks for sharing Morgan.
Thank you for putting a spotlight on Blavity.
White people need to start business with the word white in it. She got afrotech, white people should make mayotech.
WOW! These #s are INSANE! $250K in personal funds before collecting $12M in investments🤯 Such an inspiration! I hear every CEO say the first check is the hardest to get and then the money flows from there
This was amazing to watch 😊
She’s so inspirational 🙌🏼😍
Great content
love this! Thanks CNBC for showcasing important voices!
“Blackity Black” 🤣
Loved this
I like Morgan DeBaun. I wish her continued success.
Beyond inspiring!
I needed to see this
This is extremely inspirational as a young black woman...she believed and worked for it!
Nice video!! Very engaging from beginning to end. Nevertheless, businesses and investment are the easiest way to make money irrespective of which party makes it to the oval Office.
Investment in Cryptocurrency is one of the best chance of making money💸
Stock are good but crypto is more profitable
@Jaime Jaime
That won't bother you if you trade with a professional like Mr Frank Jeffrey
He's obviously the best .I invested 2000USSD with him and in 7days I made profits of 9100USSD
@Paul Reck I lost $1200 carelessly trading on a platform then I was referred to expert Frank Jeffrey he recovered the lost and made an extra profit of $4600
No excuses, just results.
Black Excellence! We love to see it! ✨❤️
this series rocks
Wanna get a billion dollars in the door? address an issue that people care about & how to solve it. Even if it can't directly be solved right now. Dats it. That's the trick.
" i just didn't want that to be my legacy " Wow that's🔥
Such a phenomenal woman!!
This is a very powerful and inspiring story. In the Caribbean, there are so many talented persons of all races with significant business ideas but we are really seen as the minority on the global front. I am inspired even more by your story to find avenues to give our Caribbean people the support they need.
It's terrible advice watch valuetainment it's easy to start a company if you just follow the set formula. Startups are an industry of their own. Watch this entire video she's basically been creating and exploiting race baiting for years. Look at the numbers her model is not financially successful, people paid for the influence over the minority culture. They are willing to take a loss because they make it up pushing a minority to spend money and make bad decisions. It's the same exact thing Kanye was talking about when they banned him 😂
This is an Inspiration to me as a young black man creating my own multimedia company! Great work queen.
.
#RapNerd
I think the times of race baiting for investment is coming to an end. This whole video is just propoganda and very bad business advice. Don't break the law to fabricate a client list to use to raise capital which is exactly what she describes doing. If you raise money with fraud at some point the numbers will not line up you won't be able to borrow to keep fudging the numbers and the whole thing will come crashing down. If you want to start a successful media company watch valuetainment. Make a dream team of talent. Make a business plan. Learn how to pitch and go to pitch meetings and investment clubs. It's easy if you follow the set path to do it. Don't fall for this race baiting
Wishing Ms. DeBaun all the best!
It disgusts me - how the “ USA”, keeps on pushing the differences between different levels of melanin. I’m from Eastern Europe and have lived in Western Europe. Indeed there are the same types of discrimination - not only towards Africans, mixed people but also pale skinned ones from Eastern Europe. However there’s one aspect that doesn’t exist in Europe- Of which I’m actually baffled -that there are actually “ areas” that are divided by criteria’s such as “ skin color” in the USA . I’m so glad she is here to make a difference. Yet I am still disgusted by the fact that such differences exists - geographically and in peoples minds. Those status words “ black /white” - the way different kind of people have been handled in not such a far past in the USA is - not even imagined by 80% of Europeans, Africans or even Asians. To a majority of us especially the youth - people are people. Humans are humans. I’m glad she’s here to point out in a smart way that these differences are present and ought to be changed. I hope that in a 100 years we can all live as EQUAL human beings celebrating our differences uniqueness use them as an instruments of Unity. We can’t change the past but only the future. I wish this woman the best and I hope more and more doors 🚪 for her until she is the one owning the gates ! 🙏🏼
I absolutely love this !
Very inspiring. Btw I love a curly hair Queen! Glad she kept it that way. 😍
I tried to start a LLC and it failed. I don’t regret the time spent in trying to market the organization.
the word "Empire" is doing a lot of very heavy lifting in this video
Nice work 🎇🎆✨
I love Blavity! Congrats, Queen! I love seeing MY people doing well!
This is the content I need
Shw took it upon herself… just incredible! So inspiring!!! 🌹👏🏾 that kickass mentality is EVERYTHING 💪🏾🌹 you are SENSATIONAL MORGAN!!! Get it gyal!
Black male but a HUGE amount of respect. Listened to this while going to work; inspirational 🙌🏾.
Ill admit, it is also fustrating hearing how she had trouble with black investors also, but Ive also connected with the narrative that we dont need white acceptance in order to make a product succeed or to be considered good. Running with that full speed on my chest.
This is awesome!
I love this!!!
I am very proud of you! God gave you a mission to serve! Bravo!
Morgan is outstanding!
So inspiring! Go girl.
This is inspiring.
Nice video 👍🏽
Beautiful segment
So the answer to the title of how she raised the money is to bootstrap? Funnel every available dollar that you earn from your j.o.b. into your start up and then hope to get investors at some later point? 🤔
Also, I think I missed the part on how she actually earned money with her initial newsletter/website? I know that would have been the most important part: to show how her startup was making a profit, but where was the money actually coming from? Advertisers? Was it subscription-based? Thanks to anybody who can answer these questions for me.
I've been wanting to start a media company for the last 3 years but I don't know how to go about finding the people to help me start (writers, editors, etc) because I don't know how I'd be able to pay them. 🤷🏽♀️
I don’t think they made any money before the capital raise (hence why no investors got on board). Blavity raised money by appealing to “social impact funds” (during the height of the BLM movement) so they took advantage and made a pivot to appeal to that trend which was flush with cash and commitments from corporate America. The initial staff were all co founders so they literally bootstrapped and that’s typical. What’s not typical is raising 12 million dollars from social impact funds for a media company.
Love love love her spirit n drive🙏🏿👏🏿🙌🏿👍🏿💯👑
Great feature!
Love it when women succeed, especially women of colours. You go girl 👧🏻☀️💗🥳
Very inspiring