When I initially launched kweliTV, my dream has always been to set aside equity to allow our community (customers, fans, creators, etc.) the opportunity to become investors in the company. Today, I’m so excited to announce that kweliTV has launched an equity crowdfunding campaign on Republic. We’re offering our community up to 13% of our company in exchange for an equity stake in a black-owned streaming platform. The campaign went live today 🥳! LINK TO CAMPAIGN.
Equity crowdfunding allows anyone to invest in private businesses for as little as $150. This concept is similar to the fourth Kwanzaa principle — Ujamaa, which means cooperative economics in Swahili. With the challenges that many black-owned businesses face to secure funding from traditional investors and banks, I believe that the concept of communal wealth can strengthen our economic power that ultimately builds up self-reliant black organizations that can reinvest back into the community.
Our goal is to raise up to $1.07 million so we can hire two full-time team members, increase our distribution channels (more apps!), make major tech improvements and create some original programming.
In the past I’ve shared my personal journey and the countless setbacks I’ve experienced as a black founder — running the company for years with very little investment, very few resources and as the only employee (until July of this year when I hired my first team member). Despite all of that, we’ve gained a following, Lil Rel Howery joined as our Head of Comedy, and the company has been featured in many publications — including being listed as one of the top 10 movie streaming services by PC (ranked in 8th place and the only independently and black owned platform on the list). Launching and running kweliTV has been no small feat. However, I’m immensely dedicated to fulfilling kweliTV’s mission.
At its core, kweliTV is a mission driven media company. Our business model is built around shifting the black narrative, helping to dismantle implicit bias, amplifying culturally-rich global black stories, and increasing the visibility and economic inclusion among black creatives.
I love quotes, so I’ll leave you with this one from John Boyega:
“Our individual pursuits of success…remains, but now more than ever, it’s important to use this movement as fuel to inspire new ways of thinking, building, and growing together.”
Let’s build something powerful together 🤝!
PS: We’re still in the middle of a major platform upgrade that’s taking longer than expected. In this season, I’ve been practicing my patience knowing that everything will come together at its perfect time. I hope to have some updates in the new year.
PPS: Share this email and campaign with your network, family and friends.
peace and light 🧡,
DeShuna Spencer // Founder & CEO of kweliTV