Essence Ventures

Essence Ventures, established in 2017 and led by entrepreneur Richelieu Dennis, is a New York-based company dedicated to serving the cultural and lifestyle needs of women of color. It merges content, community, and commerce through its flagship publication, Essence magazine, which empowers and celebrates Black women with news, entertainment, fashion, lifestyle, and beauty content, as well as community forums.

Richelieu Dennis

CEO

3 past transactions

The Prospective

Seed Round in 2023
The Prospective Co. provides fast, interactive analytics & data visualization product for large datasets.

Mayvenn

Series B in 2018
Mayvenn, Inc. is a company based in Oakland, California, founded in 2012, that empowers hair stylists by providing them with tools to sell hair extensions directly to clients. By eliminating the need for upfront costs and inventory management, Mayvenn allows stylists to focus on their craft while seamlessly integrating retail into their services. The company aims to transform the salon retail experience and has established a growing network of over 50,000 stylists and hundreds of thousands of customers across the United States. With a mission to enhance how individuals purchase hair extensions, Mayvenn has invested millions back into salons nationwide, fostering a movement that prioritizes both stylist empowerment and customer satisfaction.

Essence Communications

Acquisition in 2018
Essence Communications Inc. is a publishing company that produces ESSENCE, a lifestyle, fashion, and beauty magazine tailored for African-American women. The magazine addresses a diverse range of topics including celebrity news, fashion trends, beauty tips, relationships, career advice, health, and lifestyle issues. In addition to the magazine, the company organizes the Essence Music Festival, which features cultural celebrations, seminars, and musical performances, as well as the Women Who Are Shaping the World leadership summit. Essence Communications also engages audiences through various initiatives such as the Essence Book Club, consumer insights programs, and digital content via Essence.com, which serves as a daily source of news and entertainment relevant to the African-American community. The company was founded in 1968 and is headquartered in New York, with additional offices in Chicago, Los Angeles, and Detroit. It operates as a subsidiary of Time Inc.
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