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Eventnoire co-founders Jeff Osuji (middle) and Femi Masha (right).
Jeff Osuji knew his latest business venture was in the spotlight at the 2019 Black Alumni Ball in Washington, DC. His platform, his Eventnoire, served as the registration site for this annual event, connecting Black professionals and influencers to celebrate.
“It was a stress test for us,” Osuji said of the 1,500-person event. was.
“What surprised me was that not only did people sign up and everything worked, but people got to know the brand,” said the Chicago native. “often [the Black community] We don’t feel seen or heard, so having brands and products that put us first and acknowledge our existence creates true adaptation, loyalty and love. ”
Not only did the attendees embrace the platform, but the event organizers were also impressed with it. This is partly due to the business model of the platform. The company offers revenue sharing of processing fees with event organizers. This differs from mainstream ticketing platforms that keep this revenue to themselves.This business his model is important to Osuji and his co-founder Femi Masha for two reasons: did.
“The black community has contributed a lot to culture, but often has little return on investment,” Osuji explained. “It was very important to us to create something that we could share the investment that we are making, and also give a big piece of the pie to his curator, an event that creates culture every day. .”
road to success
Eventnoire is the second successful business for Osuji and Masha. In 2008, they founded events curation company Events by Pyramid while studying chemistry at the University of Illinois at Urbana-Champaign. They came up with the idea of a ticketing platform while brainstorming ways to expand this business, but didn’t have the funds to develop it at the time.
Mr. Ohsuji is successful in the advertising industry, and Ms. Marsha is successful in the legal industry. difference? They now have enough income to invest in tech ventures.
Oosuji quit his job in 2019 to focus on Eventnoire full time. The founders hired a website development company and launched the first iteration the same year. Both businesses were affected when the pandemic struck in 2020. Osuji has been able to weather turbulent times by hosting his events online and becoming a realtor to support himself and his business.
Osuji and Eventnoire got a boost in 2021 when the ticketing platform won Mountain Dew’s Real Change Opportunity Fund competition, taking home a $1 million prize. This is the first of several tech funds to recognize the company’s value, and has also received funding from Google for startups Black Founders Fund and TechRise.
These investments, support and recognition mean something special to Osuji. Because tech funders have historically ignored Black-owned tech companies.
“These grants help not just financially, but by giving them recognition and exposure. Capital and exposure are what Black businesses need to thrive,” he said. “It also means that the world has seen how unfair things have been over the years. I hope that we will be able to provide more support.”
In large part, it also had the support of the local small business community. He discovered the Polski Center for Entrepreneurship and Innovation and Innovation His Hub 1871 resources while attending his Afrotech dinner in Chicago.
“I didn’t know these resources existed. I was surprised that the Chicago community was so supportive,” said Osuji. “Joining these organizations is one of the best decisions I’ve made for him.”
He said the Polsky Center provided him with guidance in identifying foundations and growth opportunities for his business.
“[The] Polsky [Center] It’s been a real game changer for our business,” said the entrepreneur. “In the case of small and medium-sized enterprises, we exchange ideas, [The] Polsky [Center] That team and it gave me access to different perspectives and research on business opportunities. ”
global future
Osuji plans to launch a crowdfunding campaign next year, aiming to complete the pre-seed round by February.
These funds help support Eventnoire’s internationalization. Osuji, who was named one of WVON/Ariel Investment’s 2022 40 under 40 Game Changers, plans to expand operations into Africa and London next year, with the overall goal of serving the entire African diaspora. I am aiming for He also plans to release an app for his mobile users in the first quarter of 2023.
Businesses featured in local and national media, including WTTW, essence, forbesWhen Chicagoinocurrently has a team of 5 people and is looking to add another sales role early next year.
Reflecting on the company’s success, Osuji says he learned one important lesson from his entrepreneurial endeavors.
“No matter how big the industry is, if you can make your customers feel seen, there’s room for smaller players to compete,” he said.
// Follow @eventnoirehq on Instagram or Eventnoire on Twitter @event noirFor partnership inquiries, please contact jeff@eventnoire.com.
Article by Devon McPhee, freelance writer, editor and owner of DM Editorial Services, LLC. Devon has over 20 years of experience covering business, science and technology, health and medicine, and higher education.
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