REVOLT and Target Co-create 'Bet on Black' Series to Invest in Entrepreneurs Building Companies that Advance the Black Community

New series looks to advance Black founders who have disruptive ideas to make the world a better place

Target's multimillion-dollar investment includes $500,000 in startup funding and mentorship for founders

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Dec 15, 2021, 10:00 ET

LOS ANGELES, Dec. 15, 2021 /PRNewswire/ -- Leading Black-owned multimedia platform REVOLT today announced the premiere of Bet on Black, a new multiscreen series where Black entrepreneurs pitch their businesses in the hopes of securing critical funding. Co-created in partnership with leading retailer Target – one of REVOLT’s top advertisers – this exciting series will feature an array of expert judges and celebrity guests, including T-Pain, Zerina Akers and DJ Envy, who will select the top influential business ideas to receive funding. Host Keenan Beasley, CEO of Sunday II Sunday, will also serve on the panel of judges alongside Target’s Melanie Gatewood-Hall, Senior Divisional of Merchandising in Apparel & Accessories and former Director of Multicultural Merchandise with Pernell Cezar, CEO of BLK & Bold Specialty Beverages as the coach to the entrepreneurs.

In each episode, maverick investors and industry pioneers will listen to concepts from today's brightest Black entrepreneurs and identify the projects they believe will move the needle for Black culture and the community to receive funds. The series aims to invest in businesses that build communities, support social justice, and create lasting change, with one entrepreneur ultimately walking away with $200,000 in funding and mentorship from Target. Each episode will feature the business ideas of three innovative entrepreneurs working to revolutionize a range of industries – from technology and entertainment to style, beauty, and beyond.

"We appreciate Target for being a fearless partner that understands and supports our vision to launch programs like Bet on Black, which expand beyond entertainment to inform and inspire our community in every category," said Detavio Samuels, CEO of REVOLT. "Empowering Black entrepreneurs starts with providing access to the capital, guidance and resources they need to build companies that revolutionize industries and make a scalable impact on the world."

With this new series, REVOLT further carries out its commitment in supporting Black changemakers on a large scale. In total, Target will provide participants with $500,000 in secured funding – without asking founders to give up equity – along with one-on-one meetings with a Target executive for the four finalists.

"Target has a long history of partnering with diverse media organizations to reach our guests, and we've committed to increasing our investments with Black-owned media companies and better supporting Black entrepreneurs," said Maurice Cooper, Senior Vice President of Brand and Category Marketing for Target. "We're proud of our groundbreaking partnership with REVOLT, which is unlocking inventive and impactful ways to connect with and bring joy to our guests. Our investment not only enables the creation of a must-see series, it will also fundamentally change the trajectory of deserving Black enterprises."

Target's multimillion-dollar investment in the series is one of many in support of its Racial Equity Action and Change (REACH) strategy to create an environment where Black guests feel more welcome and represented at Target. The retailer committed to spending at least five percent of its annual media budget with Black-owned media companies each year, beginning in 2022. The company has pledged to spend $2 billion with Black-owned businesses and increase the number of products from Black-owned businesses to more than 500 in stores and online by the end of 2025. Target also launched Forward Founders, a startup accelerator program designed to engage Black entrepreneurs earlier in their startup journeys to help them navigate the critical stages of ideation, product development and scaling for mass retail.

Bet on Black will premiere on REVOLT's digital platforms on January 10 at 9 p.m. EST and extend to all platforms starting January 11 at 9 p.m. EST.

ABOUT REVOLT TV
REVOLT is the leading Black-owned and operated multimedia platform servicing content 24/7 across digital, linear and live media channels. The platform produces rich content and original material with the biggest names in Hip Hop, along with reports of breaking news, current events, trends and announcements within the Black cultural movement and Hip Hop world. REVOLT takes pride in its diversity, both in its mindset and its company makeup, further instilling its dedication to culture within its staff and audiences. Founded by Sean "Diddy" Combs in 2013, REVOLT attracts over 50 Million millennials and Gen Z audiences through their disruptive, authentic material across all platforms. In 2021, REVOLT will launch a brand new digital mobile app where users can view extended releases, live updates from relevant news, exclusive specials and much more. For more information on REVOLT's digital content, please visit https://www.revolt.tv/ and visit https://revolt.tv/listings for local broadcast listings.

SOURCE REVOLT