Jay-Z is one of the most influential rappers to ever enter the game. The Big Pimpin’ rapper has grown into a true business mogul over the years. Along with his wife, Beyonce, Jay-Z has remained a true icon of the culture. It seems Jay-Z is putting a lot of money into the Madison-Reed beauty company’s expansion.
All Hip Hop reports that Jay-Z has backed a beauty brand by pouring millions into an investment fund, putting the company in a position to succeed. Madison Reed, a hair color bar and retail footprint company, announced this week that it had received $33 million in new funding from Sandbridge Capital and Marcy Venture Partners, the Brooklyn rapper’s venture capitalist arm.
Jay-Z has not spoken publicly about his investment in the brand. Madison Reed’s products are sold in stores such as Ulta and Ulta Beauty at Target, and the company has a large recurring customer base online at Madison-Reed.com and Amazon.com. Amy Errett, CEO and Founder of Madison Reed, discussed why the company is such a sure bet for investors.
Madison Reed was built on the belief that salon-gorgeous hair color should be convenient, affordable, and made with ingredients women can feel good about. We have achieved this by showing women that Madison Reed products and services give them agency and autonomy when it comes to coloring their hair, with high-quality results through our at-home products or in our 60+ nationwide Hair Color Bar locations. As we continue to grow our geographic and retail footprint, we couldn’t be more excited to partner closely with Sandbridge Capital and Marcy Venture Partners in this chapter of expansion. Their deep retail and beauty experience will be critical as we enter our next stage of growth.
Hov is a smart businessman and is worth over a billion dollars for good reason. After many people died in the state’s custody, the Roc Nation rep recently took action. For years, Shawn “Jay-Z” Carter and Mario “Yo Gotti” Mim, as well as Roc Nation’s social justice section, Team Roc, have raised awareness about the deplorable circumstances in Mississippi State Penitentiary. The hip-hop moguls’ efforts aided in the launch of a federal investigation into the Parchman Farm detention institution. Check out the video below.
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