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On Mary J. Blige’s “I Can Love You,” Lil Kim’s featured verse opens with – “If I told you once, I told you twice.” That sentiment could not be more valid for the Jordan Brand. Every year, the iconic NBA legend levels up his brand with new colorways for his coveted sneaker collection. And with total sales for the brand crossing the $5 billion threshold in annual revenue, we are getting the message loud and clear.
This time last year, Nigerian-founded and San Francisco-based startup Flutterwave just finished closing on a $35 million Series B funding round. Now this week they close on an additional $170 million, bringing the company’s value to over $1 billion, TechCrunch reports. This Series C round was led by New York-based private investment firm Avenir Growth Capital and U.S. hedge fund and investment firm Tiger Global. Additionally, new and existing investors who participated in the round also include DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Ventures, Salesforce Ventures, Tiger Management, Worldpay FIS 9yards Capital. According to TechCrunch, Flutterwave has raised an upwards of $225 million total in the last three years and is one of the few African startups to have secured more than $200 million in funding overall. We previously reported that the startup had processed more than $5.4 billion in transactions as of 2019, more than doubling its...
Mega-superstar Rihanna has climbed the top ranks of music, beauty, and fashion in less than a decade. Now she’s officially the owner of a billion-dollar lingerie brand. According to Forbes, her highly-successful Savage x Fenty brand has just hit another major milestone after raising its $115 million Series B funding round – bringing it to a $1 billion valuation. LVMH-backed private equity firm L Catterton reportedly had a hand in helping the brand secure this investment round for its upcoming retail and athletic wear expansion. According to a statement from Savage x Fenty, the brand saw revenue growth of over 200% last year and “increased its active VIP member base by more than 150%.” Prior to this latest funding round, Rihanna’s estimated stake in the company was worth $85 million. According to Forbes, Rihanna's ‘Savage X Fenty’ has reached $1 billion valuation in lingerie equity. It is expected to become the global lingerie market leader by 2025. pic.twitter.com/sl0CHVNmYn — Pop...