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.
United Airlines will require U.S.-based employees to be vaccinated against COVID-19 by late October, and maybe sooner.
Virgin Galactic is selling tickets for space flights again, just weeks after founder Richard Branson rode a rocket-powered plane to more than 50 miles above the Earth.
Hiring surged in July as American employers added 943,000 jobs.
Treasury yields powered higher Friday and two major stock indexes notched more record highs after a report showed the U.S. job market is making widespread improvements.
The U.S. men's track and field squad isn't looking so hot, Apple announces anti-child pornography measures on their iPhones, and the South Park boys get another big payday.
The e-commerce company opened Shopify New York on Thursday, a community workspace aimed at helping entrepreneurs. Cheddar's Michelle Castillo takes a deeper look at the Manhattan location.
Illinois dispensaries sold a record $127.8 million in recreational marijuana in July, with a big boost coming from out-of-state fans who converged on Chicago for the Lollapalooza music festival.
Stocks rose on Wall Street Thursday, notching more record highs for the S&P 500 and the Nasdaq.
The Mexican government is suing U.S. gun manufacturers and distributors, arguing that their commercial practices have unleashed tremendous bloodshed in Mexico.
