Black Bread Co. founders give again, present funding alternatives for all revenue ranges

Greater than 1,000 individuals have invested over $700,000 within the year-old firm, now reportedly valued at $51 million.

The primary Black-owned sliced bread enterprise in America isn’t nearly earning profits. It’s additionally about giving again to the group.

Founders of the Chicago-based Black Bread Firm are going to Chicago Public Colleges to speak to college students about their success. They’re additionally providing traders a low-cost manner to purchase shares within the firm via an fairness crowdfunding marketing campaign.

“You can begin a enterprise, achieve success in enterprise and nonetheless be about your individuals and the place you come [from],” Charles Alexander, a founding father of the Black Bread Firm, advised CBS Chicago.

The Black Bread Firm, showcased in a four-part docuseries “Profiled: The Black Man,” was based by finest associates (from left) Jamel Lewis, Charles Alexander and Mark Edmond. (Picture: Screenshot/blackbreadco.com)

Jamel Lewis and Mark Edmond spherical out the founder’s group.

The enterprise began in February 2021, greater than 90 years after the revealing of the primary bread-slicing machine, which happened in 1928, and the sale of Marvel Bread’s first commercially bought product in 1930.

Alexander mentioned their firm desires to go to 30 Chicago public faculties in 30 days to indicate Windy Metropolis college students they, too, may be profitable, based on WBBM-TV. That might carry the three Black Bread Firm companions again to their roots since all of them graduated from Kenwood Academy in Chicago.

Moreover, they’re providing the general public a complete of 10 p.c precise fairness within the enterprise, permitting potential traders to take part for as little as $250 a share. “We’re intentional with having a low minimal with a view to give everybody a possibility to purchase shares no matter their financial standing,” Alexander says on the Black Bread Firm web site.

Their plan appears to be working. Lewis advised WBBM-TV that greater than 1,000 individuals have invested over $700,000 within the enterprise, which is now valued at $51 million.

“We’re happy with that, being a part of our group studying and rising collectively and being open to new concepts and possession,” mentioned Lewis.

In response to CBS Chicago, the bread is distributed from a warehouse in Chicago’s Pilsen neighborhood and bought in 70 shops throughout the area, plus shipped internationally.

The corporate gained notoriety in February when Alexander, Lewis and Edmond appeared on Profiled: The Black Man, a brand new four-part Discovery+ docuseries created by the Oprah Winfrey Community. Then, in March, the trio appeared on Ellen, the place host Ellen DeGeneres introduced them with a $20,000 verify to help their enterprise operations.

“Once we launched, we actually had $1.87,” Lewis advised DeGeneres. “However we pulled collectively all of our assets, our financial savings. Our households have made sacrifices for us to be right here, and that’s how severe we’re about this firm and presenting one thing that may change generations for those that appear like us all over the world.”

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