Weiss shared that she wanted to take action to address the inequity and lack of support that Black-women-led businesses get in the business world, citing statistics that in 2014 "only 3. 1 percent of venture dollars raised by U. S. -based companies went to women" and "Black women have received only . 0006 percent" of venture capital raised since 2009.
One brand at the forefront is Glossier, which announced on May 30 that it will be donating $1 million to organizations focused on combating racial injustice and grants for Black-owned beauty businesses.
Founder and CEO Emily Weiss shared details of Glossier’s Grant Initiative for Black-Owned Businesses on June 11 and officially started accepting applications.