How I Raised $12 Million For My Media Start-Up

No video

How I Raised $12 Million For My Media Start-Up

Рет қаралды 224,847

3 жыл бұрын

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.
Subscribe to CNBC Make It.: cnb.cx/2kxl2rf
About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.
Connect with CNBC Make It. Online
Get the latest updates: www.cnbc.com/m...
Find CNBC Make It. on Facebook: cnb.cx/LikeCNB...
Find CNBC Make It. on Twitter: cnb.cx/FollowC...
Find CNBC Make It. on Instagram: bit.ly/Instagr...
#CNBC
#CNBCMakeIt
How I Built Blavity, A Media Empire for Black Millennials

Пікірлер: 461

@investinstyle-financeinves1181 3 жыл бұрын

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.

@Lukasbimba93 3 жыл бұрын

oh okay

@fredgalaxy7632 3 жыл бұрын

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!

@carolinemwangi3619 3 жыл бұрын

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

@silkrock7295 3 жыл бұрын

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.

@princebarak8367 Жыл бұрын

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.

@theprimest 3 жыл бұрын

If you're reading this you have potential to create great things, you were put on this planet for greatness. Yes. You.

@lisaperez8276 3 жыл бұрын

Thank you, bless you 🙏🏼💖

@BetterYouNow 3 жыл бұрын

Stop lying to me!

@007kitkit8 3 жыл бұрын

I receive that. Thank you

@hasinashraf4423 3 жыл бұрын

thank you

@cyrellroberson9698 3 жыл бұрын

She's so dope. Keep grinding to all of my fellow Black startup founders and CEOs.

@DerDudelino 3 жыл бұрын

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.

@Belioyt 3 жыл бұрын

If ADs were made the Ryan Reynolds does them, I wouldn't use Ad Block

@DerDudelino 3 жыл бұрын

@@Belioyt He is incredibly talented - I agree.

@jordanmakesfinancevideos650 3 жыл бұрын

Being poor is hard. Getting rich is hard. Choose your hard.

@drlove994 3 жыл бұрын

❤️

@andresa6049 3 жыл бұрын

I’m digging this statement

@user-vi4xy1jw7e 3 жыл бұрын

What about getting poor?

@andresa6049 3 жыл бұрын

@@user-vi4xy1jw7e if you get poor, that means you weren’t before and should be able to lift yourself back up.

@DerDudelino 3 жыл бұрын

She was never poor though - 350K in your bank account at the age of 24 is super impressive.

@Sunshine4 3 жыл бұрын

Smart Dad, smart daughter ❤️ thank you for sharing her story. $250k at 24? Wow!

@zoemayne 3 жыл бұрын

Shame this only has 30k views and videos with 6 figure salaries automatically get 100k. This is what you actually need that entrepreneurial spirit.

@hilaryactsession1427 3 жыл бұрын

Shame...? Ha... Why shaming?

@BetterYouNow 3 жыл бұрын

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

@KNEWERAADVERTISING 3 жыл бұрын

@@BetterYouNow Thats her point, its unfortunate either way

@jasmineroy9982 3 жыл бұрын

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!

@TheBillionaireTomboi 3 жыл бұрын

#STL 💚

@amirfigo 3 жыл бұрын

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

@amberbennettrealtor 3 жыл бұрын

@@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)

@kwameadansi9106 3 жыл бұрын

"i just didn't want that to be my legacy" felt that

@MJ-py7dm 3 жыл бұрын

Right ?

@stephanieawuah 3 жыл бұрын

Lol i just laughed hard when she said that. Sure he has a point but she also has a point. Sigh

@zharnedesember1910 3 жыл бұрын

I literally just said 'fair enough' when she said that😆...its not on anybody's shoulders if they dont want it

@compilation8800 2 жыл бұрын

When she said it

@aeriel4972 3 жыл бұрын

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 💪

@admiralbeluga6438 3 жыл бұрын

GOOOD LUCK

@aeriel4972 3 жыл бұрын

@@admiralbeluga6438 thank you!

@fredgalaxy7632 3 жыл бұрын

Don't quit your day job which provides the food on your table. Rather come home and invest 3 hours in your projects.

@jackmcdonald5474 2 жыл бұрын

yessss im remembering ur name don't give up

@nursebondemcanada 2 жыл бұрын

all the best

@thatotau7478 3 жыл бұрын

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.

@angbuhayko2641 3 жыл бұрын

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!

@lindab3340 2 жыл бұрын

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.

@colorfulcodes 3 жыл бұрын

I went to Afro Tech. Great people.

@sidehustlevikki1066 3 жыл бұрын

Love this story! I definitely love that her parents helped her invest at a young age.

@yaserchow 3 жыл бұрын

I love Blavity! Such a great resource for black people. I'm happy to hear her story highlighted here.

@natishaharper5760 2 жыл бұрын

Roland Martin Unfiltered covered Micheal Brown extensively. I believe, he was the only Black media - Black owned not just Black content focused, media company.

@WealthbuilderzTV 3 жыл бұрын

I love success stories like this. Keep winning. I hope everyone that reads this creates financial freedom.

@caprinathomas3481 3 жыл бұрын

This is a prime example of Black Excellence you did that Sis This is Incredible Success. 🙌🙏🙏🙏🔥💜Goooooo Morgan💜💜💜💜🐐

@DavielJames 3 жыл бұрын

I love the idea! Bucking against the trend and starting a media company in California takes some guts! Good luck!

@topseekrit 3 жыл бұрын

Had no idea she started Afro Tech, pretty dope!

@kimnwaneri 3 жыл бұрын

“ 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.

@lessconfused5179 3 жыл бұрын

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.

@runfunmc64 3 жыл бұрын

Why are we capitalizing white and black now

@lessconfused5179 3 жыл бұрын

@@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.

@tangiblemammal5273 3 жыл бұрын

@@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.

@lessconfused5179 3 жыл бұрын

@@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.

@elijahtrenton8351 3 жыл бұрын

Your name is so ironic. You need to go outside and touch some grass, you've lost the plot...

@mohamedhassanmohamed1175 3 жыл бұрын

This woman is incredible......we need to learn from her.

@coloursoftherainbow8399 3 жыл бұрын

She raised 12 million but is the business itself successful and making money?

@NursesToRiches 3 жыл бұрын

This girl is amazing and deserves all of the success she gets!

@monica4158 3 жыл бұрын

Totally agree.

@jamaladams1121 3 жыл бұрын

Facts

@AminaPhilosophy Жыл бұрын

Yes, This Woman is incredible✨

@jamaladams1121 3 жыл бұрын

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.

@shannonjohnson4314 2 жыл бұрын

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.

@Senpaischick 3 жыл бұрын

Oh man, this makes me so happy. I want to publish my digital art prints but I’m so nervous. This is inspiring tho

@FabioTheGreat 3 жыл бұрын

Never heard of, but you go girl, make your bag.

@mihlali8416 3 жыл бұрын

“Sure, I just didn’t want that to be my legacy” -this woman knows what she wants.

@Iamniko__ 3 жыл бұрын

I am really inspired by this. This is so close to what I want to do with my career. Great job! Following Morgan now!

@kaijaful 3 жыл бұрын

I love Blavity!! This was so inspiring to watch! I recommend Travel Noire Next!

@MorganDeBaun 3 жыл бұрын

so glad you enjoyed it! Blavity Inc. owns Travel Noire :)

@ca8824 3 жыл бұрын

This is great but as a very light skinned Black person, I recognize we need these stories but also more stories of successful Black individuals and couples who aren't nessecarily bi-racial or of light complexion.

@sierrairick1704 3 жыл бұрын

I couldn’t agree more.

@emem2863 2 жыл бұрын

Having lived in St. Louis, I get why she identifies so strongly as a black woman and not as a mixed-race woman. However, with her eye color, curly hair, and medium-light brown skin, she obviously has some white ancestry even if both her parents are considered black. It's also obvious that she is culturally black and that probably has a lot to do with growing up in St. Louis, which is a very racist place, especially towards people with black ancestry.

@juanlewis7205 3 жыл бұрын

As a black entrepreneur and scholar, I felt this! Awesome story!

@mountainman6172 3 жыл бұрын

Been subscribed to the Blavity email list for years. Keeps me updated on many issues that the MSM generally is apathy to.

@toddntasha 3 жыл бұрын

*Love to see awesome black folk doing it big. Keep going Morgan!*

@teebellamy 3 жыл бұрын

She’s so inspirational 🙌🏼😍

@RapNerdRadio 2 жыл бұрын

This is an Inspiration to me as a young black man creating my own multimedia company! Great work queen. . #RapNerd

@Rays_Bad_Decisions Жыл бұрын

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

@its.jasminesmith 3 жыл бұрын

She’s awesome! So inspiring!!

@AMCW90 3 жыл бұрын

I've been following Morgan and Blavity for a while now. She is AMAZING!! 🔥🔥🔥

@Indasaid 3 жыл бұрын

Greatly appreciate Morgan's tenacity, honesty, generosity of spirit and intelligence. Valuable insights!

@Magmafire 3 жыл бұрын

Thank you for putting a spotlight on Blavity.

@tangiblemammal5273 3 жыл бұрын

White people need to start business with the word white in it. She got afrotech, white people should make mayotech.

@CookingWithCarlina 3 жыл бұрын

So inspirational! Loved this!!! ❤️

@mstrulygolden 3 жыл бұрын

She’s such a visionary!!!! Love this. Thanks for sharing her story. 🤗

@shellywhite2145 3 жыл бұрын

I was at a retirement seminar and the speaker spoke on how he quit his job after he made well over $950,000 PROFIT within 3months he invested $120,000. I just began investing and i will really appreciate any tips or helpful guide.

@shellywhite2145 3 жыл бұрын

@Jack Whittaker so what are your recommendations?

@GratitudeGriot 3 жыл бұрын

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

@CaseyBurnsInvesting 3 жыл бұрын

No excuses, just results.

@tahlia81 3 жыл бұрын

Love this story! Actually made me cry. WE LOVE YOU MORGAN AND TY FOR LOOKING OUR FOR YOUR OWN PPL XO

@anonymoustube1 2 жыл бұрын

wow i love this so inspiring bravo. keep sharing stories like this i had no idea

@LifeofPani 3 жыл бұрын

Such an inspiration to all people that are feeling marginalized, this is so much greater than one color

@alona724 3 жыл бұрын

❤️❤️❤️❤️❤️❤️❤️ thank you so much for sharing your story. As a St. Louisan, this touched me more than words can say.

@christopherharper9932 2 жыл бұрын

I love Blavity! Congrats, Queen! I love seeing MY people doing well!

@MAG320 3 жыл бұрын

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.

@KeyJayHD Жыл бұрын

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.

@Yocyndie 2 жыл бұрын

wow love love love this interview

@sheenawongshue8379 3 жыл бұрын

Black Excellence! We love to see it! ✨❤️

@sherpee9185 3 жыл бұрын

This is very inspiring and eye opening! 💯

@kponly 2 жыл бұрын

This is inspiring.

@luna_guardee9139 3 жыл бұрын

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 ! 🙏🏼

@silkrock7295 3 жыл бұрын

This was an awesome KZfaq video! Living in Silicon Valley as a black person can be very isolating. If you are black and come here from the south you will notice the absence. San Francisco is 5% black but the prison population as of 2021 is 48% black. So there is a big mountain to climb. We don't want to be just accepted we want to be successful. Kudos to this sister who didn't wait for someone to put her on!

@mikewilson9236 3 жыл бұрын

12:10 at this point if shes raised 12 million - how much salary is she paying herself? Whats the additional expense account connected to her CEO position?? These are the questions he should be asking her - if this wasnt actually a commercial

@janellegermain35 Жыл бұрын

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.

@Rays_Bad_Decisions Жыл бұрын

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 😂

@beatsbythekilo 2 жыл бұрын

Great content

@TheBillionaireTomboi 3 жыл бұрын

This is wonderful. Thank you Ms. DeBaun! #STL 💚

@AntonSlizzardhands 3 жыл бұрын

I like Morgan DeBaun. I wish her continued success.

@janetnjau9072 3 жыл бұрын

THank you for blessing us with this content 🙌🙏

@abinari Жыл бұрын

this series rocks

@cynthiar3013 3 жыл бұрын

love this! Thanks CNBC for showcasing important voices!

@Riristargurl 3 жыл бұрын

This is extremely inspirational as a young black woman...she believed and worked for it!

@rachelnblair 3 жыл бұрын

This was amazing to watch 😊

@financialtea 3 жыл бұрын

wow thanks for sharing Morgans story and doing this interview amazing work and inspiration right here!

@NokthulaMadondo 3 жыл бұрын

Beyond inspiring!

@moviesovermatterproductions 2 жыл бұрын

Shw took it upon herself… just incredible! So inspiring!!! 🌹👏🏾 that kickass mentality is EVERYTHING 💪🏾🌹 you are SENSATIONAL MORGAN!!! Get it gyal!

@CarissaGlow 3 жыл бұрын

Well done 🙌🏽👏🏽👏🏽👏🏽

@districtnerfco.8390 3 жыл бұрын

“Blackity Black” 🤣 Loved this

@YouNeverKnowWhoIsWatching 2 жыл бұрын

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. 🤷🏽‍♀️

@davidbasset7557 Жыл бұрын

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.

@pedagogiaatwork 3 жыл бұрын

Thanks for sharing this

@varshinir6489 3 жыл бұрын

" i just didn't want that to be my legacy " Wow that's🔥

@michaelt.1451 3 жыл бұрын

Love it. You are truly inspiring!

@annechou1385 3 жыл бұрын

I am very proud of you! God gave you a mission to serve! Bravo!

@andrewgonzales1359 2 жыл бұрын

I tried to start a LLC and it failed. I don’t regret the time spent in trying to market the organization.

@annamc8228 2 ай бұрын

Beautiful segment

@lucien5112 2 жыл бұрын

the word "Empire" is doing a lot of very heavy lifting in this video

@colorfulcodes 3 жыл бұрын

It's crazy how so many companies don't consider black and brown faces for user testing but black people are the heaviest users of social media and tech.

@ro6535 3 жыл бұрын

Very inspiring. Btw I love a curly hair Queen! Glad she kept it that way. 😍

@rashidamid6831 3 жыл бұрын

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.

@JamesSmith-ni4of 3 жыл бұрын

Investment in Cryptocurrency is one of the best chance of making money💸

@fnlillyshiben194 3 жыл бұрын

Stock are good but crypto is more profitable

@rubenw8452 3 жыл бұрын

@Jaime Jaime That won't bother you if you trade with a professional like Mr Frank Jeffrey

@johnburgess7705 3 жыл бұрын

He's obviously the best .I invested 2000USSD with him and in 7days I made profits of 9100USSD

@helenjan3848 3 жыл бұрын

@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

@christinamorillo 3 жыл бұрын

Morgan is outstanding!

@larrythesociologist 3 жыл бұрын

Such a phenomenal woman!!

@dhowto3005 3 жыл бұрын

Wishing Ms. DeBaun all the best!

@thefinancialsecurelife 3 жыл бұрын

I highly enjoyed this piece on Morgan DeBaun.

@denell4556 3 жыл бұрын

#BlackGirlMagic 🙌🏾 🙌🏾 🙌🏾

@user-ek7mb4ej5t 3 жыл бұрын

Thanks for sharing Morgan.

@manovnanarcisse7266 3 жыл бұрын

Amazing interview thanks for sharing!

@CliftonAlexander. 3 жыл бұрын

Great interview

@charletfoster8917 3 жыл бұрын

Love love love her spirit n drive🙏🏿👏🏿🙌🏿👍🏿💯👑

@Jepolla 3 жыл бұрын

I subscribed to their newsletter but TBH wasn't impressed (i.e. it was full of typos, poorly written copy, etc.). I really hope that this company with a very big potential doesn't get lost amid this pandemic crisis and finds a clear vision, brand and direction. We all really want this to work.