One of the first one of the first black women collecting Million in Venture Capital, diarrhea announced the closure of its award -winning beauty startup Amy Cole.
Amy Cole é makes makeup for people with darker skin, as those users often struggle to find makeup that match their skin head. It started in 2021, selling through Sefora, and singer Kelly Rawalland and actress Mandy Killing became a celebrity. But the 4 -year -old company will now be formally shutter in September.
n’dieaye-mbaye Wrote about your decision to close the company In “cut”, saying that “after seeing every option, it became clear that it was not lasting in this current market.” According to Pitch Bok, his company collected more than 3 million Million in Venture Capital, supporting G9 Ventures, Gree Craft, and angel investor Hannah Bronf Man and “The Cut” editor in Chief Lindsay, the Chief Lindsay People’s Wagner.
Amy Cole é did not respond to our request to comment immediately.
Like many black startups that began after George Floyd’s murder, Amy Cole Wei mounted waves of enthusiasm by investors and corporations, seeking money to pursue more products and steps that touch diversity, equality and joining.
N’diaaye-Mbaye indicated that a problem was tension between him and the expectations of the consumer business between investors. While it was loyal consumers, rapid development across the country means pressure from investors. But his brand struggled to compete with deep pockets with big companies, yet a large part of his budget was put into marketing. Amy Cole é faced production fluctuations compared to sales in retail: one week is sold directly, and the second unit is not transferred.
He wrote, “Instead of focusing on the company’s healthy, sustainable future and meeting the needs of our loyal fan base, I mounted a mood to diagnose investors – some of which have adopted an attitude towards the equity and ‘have a loud bet on the enclosure’.”
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Stress comes as venture funding Black founders have targeted the lowest level of the year In a political climate that has rejected anything considered as Dei. Ndiaaye-Mbaye ended his announcement, saying that although this chapter of his life was coming to an end, he did not work.
He said, “I still believe in beauty – at every level – and what I am looking forward to after that.”