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There are many differences between privately held and publicly traded companies. While both kinds of companies may have their perks, many of the worlds successful companies are publicly traded companies, such as Amazon, Facebook, Tencent, and many more. Without any doubt, some privately held companies are very successful but have refused to go public due to scrutiny and regulations from external regulatory bodies like the Securities and Exchange Commission (SEC).

While publicly traded companies stand to get more access to investors cash, they must meet the SECs strict filing requirements. Publicly traded companies must comply with the SEC to publicize every necessary financial information to promote transparency and allow investors to learn more about these companies.

As of April 2020, there were 11,710,360 registered businesses in the United States, with only 637,769 owned by Blacks, about 5.44% of the total number. In 2017, the Wall Street Journal reported that out of the 3,671 publicly traded companies in the U.S, only eight (8) are black-owned, accounting for only 0.002% of the total number. This is compared to the population of Black people living in the United States, 13.4% of the total population.

Despite the challenges black-owned businesses have faced over the years like inadequate access to cash, some Black-owned publicly traded companies have done quite well for themselves. These businesses spread across various sectors of the economy including finance, broadcasting, tech, and healthcare.

RLJ Lodging is a black-owned asset management company that offers investment trust services and does business with full-service hotels. The company was founded by Robert L. Johnson and Thomas J, Baltimore Jr. in 2000, initially called RLJ Development. The restructured and rebranded company, RLJ Lodging now has its focus on premium-branded, focused-service and compact full-service hotels. The company went public in 2011, and by 2017, it had a merger with FelCor Lodging Trust which gave it access to 37 additional properties. For over 15 years, RLJ has successfully expanded its operations and enhanced its operating model, with less volatile cash flows. RLJs investment portfolio consists of 103 hotels across 23 states and the District of Columbia. Its clients include Hyatt Place, Courtyard by Marriott, Residence Inn by Marriott, Homewood Suites by Hilton, Wyndham, Embassy Suites by Hilton, and Hilton Garden Inn, among others.

Urban One is the largest Black-owned media production company in the U.S. The media giant claims that content produced by its studios reaches at least 82 percent of Black Americans. The media production company was originally founded in 1979 by Cathy Hughes. It was known as Almic Broadcasting and eventually Radio One. What started with a single station in Washington D.C, later grew into a full-blown radio station between 1999 and 2000, after purchasing additional 35 radio stations. The company, again, changed its name to Urban One in 2017. In the last 20 years, its reach has expanded into every Black home with a basic cable connection. Urban One has grown to become a multimedia conglomerate, covering both television and radio. Their popular brands include TV One, Interactive One, Cleo Tv, One Digital.

Ping Identity Holding is a digital and online identity protection service. It offers its service through its trademarked platform known as the Ping Intelligent Identity, which includes multi-factor authentication, identity data management, and intelligent access controls, and many more. The service was founded by Andre Durand in 2002. In 2016, Vista Equity Partners acquired the company in an acquisition deal and took it public in 2019. Ping Identity Holdings clientele includes 12 of the largest U.S banks, big biopharmaceutical companies, large healthcare plans, and top retailers in the U.S.

Global Blood Therapeutics is a Black-owned biopharmaceutical company. The company is leading the development of treatments and therapies against sickle cell disease (SCD), as well as advocating for increased access to healthcare in Black communities. According to the Centers for Disease Control and Prevention (CDC), about 100,000 Americans are living with SCD, and one out of every 365 Black children is born with SCD. GBT was founded in 2011 and completed its initial public offering (IPO) four years later. In 2019, the biopharmaceutical partnered with Syros Pharmaceuticals to develop therapies for SCD and Beta Thalassemia.

Carver Bancorp was founded in 1948 by a small group of community lenders and small business owners. It is the holding company for Carver Federal Savings Bank, a federally chartered savings bank. The bank offers consumer and banking services and products to underserved Black communities in the United States. Due to its impact and service to Black communities, the U.S. Treasury Department designated the bank as a Community Development Financial Institution (CDFI).

Broadway Financial Corp. is a Black-owned financial institution founded in 1946 as Broadway Federal Savings and Loan Association by a small group, including H.A. Howard and Dr. H. Claude Hudson. It is the holding company for Broadway Federal Bank, a federally chartered savings bank, also designated as a CFDI by the Treasury Department. The bank offers consumer and banking products and services to low-to-moderate-income communities.

Brooklyn Nets Owners Launch Fund To Help Black Businesses

Kyrie Irving Launches Consulting Firm Which Will Focus On Providing Support To Black and Women Owned Businesses

BET Founder Robert Johnson is Proposing $30B Tax Incentives for Investors that Invest in Black Businesses

Wells Fargo To Invest $50 Million Into Black-owned Financial Institutions

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