Tag Archives: Acorns

Celebrity Cyber Report – JayZ, Kevin Durant

JayZ

Rapper/entreprenuer/business mogul JayZ is launching a venture capital fund. The brother has the Midas touch and knows how to use it. In 2011 the husband of Beyonce invested in Uber and that blew up. The ride company is worth 200 times what was when he invested. He launched RocaWear. BOOM! That blew up. He purchased Tidal and jumped into the streaming media game. He is also invested in several alcohol beverage brands. Put simply this black man knows where to put money to make money.

JayZ and longtime friend and business partner and RocNation co-founder Jay Brown are hooking up withPrimary Venture Partners and GlassBridge Asset Management to form the new firm, Arrive. Primary acting as advisor to guide JayZ’s investments, and GlassBridge will provide business infrastructure support. JayZ is currently looking for the right mind to lead the fund.

JayZ  and RocNation have an impressive track record when it come to investing. Check it out.

  • Stance The Jays’ Roc Nation invested $6 million in the premium sock company Stance. It’s gone on to raise a total of $116 million from top Silicon Valley investors.
  • Uber Jay Z invested when the company was valued at just $300 million. Now Uber is valued at $62.5 billion.
  • JetSmarter JayZ personally invested in JetSmarter’s in 2014 and 2016. The “Uber for private jets” startup is hoping people will pay huge upfront membership fees for free luxury flights later.
  • DevialetRocNation’s most recent investments is with high-end french speaker maker Devialet. It’s too early to tell but Devialet speakers get rave reviews and are sold at Apple stores.

But not all has been rosy for the rapper. Investing is a gamble and sometime you lose. JayZ dropped money on Viddy/Supernova an “Instagram for video” concept in 2012 before Instagram became the Instagram for video. The company failed, was re-branded as Supernova, and was sold. No profit there.  RocNation invested in BlackJet a private jet startup in 2012. BlackJet crashed taking JayZ’s money with it.

JayZ and RocNation are expected to focus on seed-stage funding of tech startups.

NBA All Star Kevin Durant

Last summer the Golden Sate Warriors landed the most sought after NBA baller, probably in the history of the game, Kevin Durant. The Golden State is the home of Silicon Valley, the home of high tech gold. Making himself at home Durant and his agent Richard Kleiman unveiled a start-up of their own, the Durant Company, with an expanding portfolio of investments in tech companies like Postmates and Acorns. The portfolio also holds investments in hotels, restaurants, film and television development. Durant is  also investing with Ronald Conway, one of Silicon Valley’s top angel investors and consulting with Laurene Powell Jobs, Steve Jobs’s widow, on his own charity foundation.

Durant may have caught the tech investment bug from his teammate Andre Iguodala, who is an investor in Twitter, Facebook and Tesla. By the way Durant drives a black Model S Tesla.

See also: Durant Puts His Money and Celebrity Behind Postmates.

App of the Week : Acorns Invests Your Spare Change

UnknownWant to get in the stock market? Have you thought about investing but wondered where to get the money?. Who said you needed a lot of money to invest in the stock market?

Acorns, the App of the Week, will help you to begin investing by starting small, very small. The Acorns app is connected to your debit or credit card. Each purchase you make with the card is rounded up to the nearest dollar and that small amount is invested for you. The concept works similar to checking accounts that save money for you the same way. You can set up the app and be investing in just a few minutes.

To use the app you simply sign up with your bank’s username and password. The user is asked to provide basic information about themselves, including their social security number, income, net worth, and investment goals. Once Acorns has this information the service can recommend the right portfolio for you. Rather than offering an array of investment options. Acorns only offers users so-called exchange traded funds.

Some of the really great perks of the account is that you don’t have to be a Wall Street wizard to invest.  Your money is never locked away and you can pull it out whenever you want. You can set it up for investing small change or you can make regular deposits or deposit at will. There are no fees charged and you can set up the account and forget it. Those nice people at Acorn have selected a small group of funds that range from conservative to high risk and you choose where to put you money.

Saving money is not easy. But if you want to save money and invest it this is the app for you. Acorn is available on Apple and Android.