In cultures around the world families and friends pool their money together into a single pot of money. The process is called esusu, and a new app has adopted the name and making the process easier than ever.
Abbey Wemimo is the co-founder of Esusu. As an immigrant himself, Wemimo's mother practiced esusu and used that financing strategy to send Wemimo to school.
Wemimo explains that the main focus is to create a platform for immigrants and people of color, but of course he would be happy for all Americans to use the platform. Accessibility was a key factor in developing Esusu, which is why Wemimo says the company built a phone-based app.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Cheddar has been covering the biggest news of the week with some of the biggest names in the biz. In case you missed it, we've pulled together some of the highlights that will keep you informed as we get ready for the week ahead.
Cheddar News visited the Amazon Fulfillment Center in Robbinsville, New Jersey and spoke to Amazon global communications director Rena Lunak to learn more about how its prepared for the supply chain crunch this holiday season.
Despite missing estimates on job gains by a wide margin, the November 2021 jobs report from the Labor Department shows an economy trudging along toward its pre-pandemic state.
Wall Street closed out a bumpy week with more losses on Friday following a mixed reading on U.S. jobs markets that investors said was tough to parse. The S&P 500 gave up an early gain and closed 0.8% lower.
Extreme weather and supply chain disruptions have reduced supplies of both real and artificial trees this season.
Major League Baseball plunged into its first work stoppage in a quarter-century when the sport’s collective bargaining agreement expired and owners immediately locked out players in a move that threatens spring training and opening day.
A month after Facebook changed its name to Meta, Square Inc. is changing its name to Block.
Stocks rose broadly on Wall Street Thursday as investors continue to monitor the spread of the new coronavirus variant as well as measures that the U.S. and other governments are taking to restrain it.
President Nayib Bukele announced last week that the Central American country plans to issue the world's first "Bitcoin bond" early next year.
