Rapid Response: Finding untapped value in multicultural consumers, w/Blavity CEO and AfroTech founder Morgan DeBaun

Targeting

Morgan DeBaun, CEO of Blavity, highlights the importance of targeting Black and multicultural consumers, a demographic often overlooked by traditional media. She emphasizes that Black consumers are super users of the internet and drive pop culture, yet remain undervalued by Silicon Valley. Morgan's strategy involves building trust over time, acknowledging that it can take years to establish a loyal audience.

It's important that corporations who have black customers make a dedicated investment in black owned media.

--- Morgan DeBaun

By focusing on this demographic, Blavity has thrived where others have struggled, demonstrating the untapped potential in these communities 1 2.

   

Unlocking Value

Morgan's journey with Blavity began with a vision to create a media company that serves Black and multicultural audiences, despite initial challenges in securing funding. She initially aimed for an all-Black cap table but shifted to include social impact investors who valued the business's potential impact. This shift led to the creation of AfroTech, a thriving community for Black tech talent.

AfroTech was designed, and is designed to be a community where you don't need permission from anyone else, do whatever the heck you want to do.

--- Morgan DeBaun

Morgan's experience underscores the importance of creating spaces that empower Black professionals and entrepreneurs, highlighting the industry's shortcomings in supporting Black talent 3 4.

   

Authenticity

Morgan DeBaun stresses the necessity of authentic investment in Black and multicultural communities, warning against tokenism. She argues that Black consumers are highly loyal, making the investment worthwhile despite the effort required. Morgan advocates for dedicated funding to Black-owned media, emphasizing the unique stories they tell that are often overlooked by mainstream outlets.

The stories and the information that we cover on our platforms oftentimes can't be found anywhere else.

--- Morgan DeBaun

This approach not only supports these communities but also ensures that their narratives are told from an authentic perspective, challenging harmful stereotypes 5.