Building Wealth through Tech

Building Wealth through Tech

 

With billions being made in the technology industry seemingly every week, more Black businessmen and investors are becoming involved. Building wealth through tech is an amazing opportunity that we must take advantage of.

2018

Building upon Dre’s success with owning a percentage of a tech company, Nas has also made millions from his investment in Nest, a video doorbell company.

I think we should not only be pushing our brightest to pursue jobs in the tech industry, but also invest and create jobs. Wealth is built at the fastest rate when it is unlinked to time. Check out the article below.

“Legendary rapper Nas stands to make millions off a recent investment. The Queens rapper and his firm Queensbridge Venture Partners reportedly invested in a recent startup called Ring. The firm has made at least 128 investments according to Crunchbase including other startups like Lyft and Drop Box. The latest investment Ring is a successful tech business that focuses on video doorbells, home cameras and security.

Ring has over 2 million customers and raked in over $100 million in revenue last year. Last week Amazon announced it was buying the video doorbell company. According to Reuters, the deal is worth just over $1 billion. It is not known how much Nas’s venture capital firm invested but it’s safe to say it was a smart move.

After the deal was finalized Ring released a statement, “Ring is committed to our mission to reduce crime in neighborhoods by providing effective yet affordable home security tools to our Neighbors that make a positive impact on our homes, our communities, and the world. We’ll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon. We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods.”

Source: Nas Invested In A Doorbell Company That Amazon Just Bought for $1B

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