"What makes a public company—or any business—Black-owned? The National Minority Supplier Development Council (NMSDC) defines a minority business enterprise (MBE) as a "business [that] is at least 51% owned by or, in the case of a publicly owned business, at least 51% of the stock is owned by one or more such individuals." Simply put, the management and daily operations should be controlled by the minority owner(s)/shareholder(s). The NMSDC further clarifies that a Black-owned business is one whose owner is a "U.S. citizen of African descent," which would include both African Americans and African immigrants.", in the link below I looked at the top "black", IPOs and here's what I found:
☆RLJ Lodging Trust
- Total Assets (Sept. 2020): $4.52 billion
- Total Revenue (Sept. 2020): $382 million
- Earnings per Share (Sept. 2020): $(2.04)
- Year Founded: 2000
- Headquarters: Bethesda, Md.
The most successful company listed here, RLJ Lodging Trust (
RLJ), is a real estate investment trust with a portfolio consisting of 103 hotels across 23 states and the District of Columbia. Founded by Robert L. Johnson and Thomas J. Baltimore Jr.
☆Urban One
- Total Assets (Sept. 2020): $1.21 billion
- Total Revenue (Sept. 2020): $262.79 million
- Earnings per Share (Sept. 2020): $(0.77)
- Year Founded: 1979
- Headquarters: Silver Spring, Md.
Originally founded by Cathy Hughes as Almic Broadcasting in 1979, Radio One started out with just a single station—WOL(AM) in Washington, D.C. In 1987
☆Ping Identity Holding
- Total Assets (Sept. 2020): $965.57 million
- Total Revenue (Sept. 2020): $180.33 million
- Earnings per Share (Sept. 2020): $(0.10)
- Year Founded: 2002
- Headquarters: Denver, Colo.
Founded by Andre Durand in 2002, Ping Identity Holding (
PING) specializes in a wide variety of digital and online identity protection services through its trademarked Ping Intelligent Identity platform, including multi-factor authentication, intelligent access controls, and identity data management.
☆Carver Bancorp
- Total Assets (Sept. 2020): $672.65 million
- Total Revenue (Sept. 2020): $9.86 million
- Earnings per Share (Sept. 2020): $(0.43)
- Year Founded: 1948
- Headquarters: New York, N.Y.
Carver Bancorp (
CARV) is the holding company for Carver Federal Savings Bank, a federally chartered savings bank. Founded by a group of community leaders and small business owners in 1948, Carver offers consumer and business banking products and services to traditionally underserved African-American communities. The first branch was opened in Harlem in 1949.
☆Broadway Financial Corp.
- Total Assets (Sept. 2020): $499.217 million
- Total Revenue (Sept. 2020): $13.71 million
- Earnings per Share (Sept. 2020): N/A
- Year Founded: 1946
- Headquarters: Los Angeles, Calif.
Much like Carver Bancorp, Broadway Financial Corp. (
BYFC) is the holding company for Broadway Federal Bank, another federally chartered savings bank and CDFI.
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Axsome Therapeutics
- Total Assets (Sept. 2020): $203.63 million
- Total Revenue (Sept. 2020): N/A
- Earnings per Share (Sept. 2020): $(1.98)
- Year Founded: 2012
- Headquarters: New York, N.Y.
The next-largest company in the healthcare sector on this list, Axsome Therapeutics (
AXSM), is also a biopharmaceutical firm. Founded in 2012 by Dr. Herriot Tabuteau, Axsome focuses on the development of novel therapies for managing central nervous system (CNS) disorders, for which treatment options are limited.
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American Shared Hospital Services
- Total Assets (Sept. 2020): $52.34 million
- Total Revenue (Sept. 2020): $13.23 million
- Earnings per Share (Sept. 2020): $(0.14)
- Year Founded: 1980
- Headquarters: San Francisco, Calif.
American Shared Hospital Services (
AMS) operates within the technological side of the healthcare industry by providing equipment to hospitals and medical centers.
what do you all think?
A look at the select group of Black-owned companies that have gone public—who they are, what they do, and the special challenges such businesses face.
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