Facebook, Inc. Commits $2 Million Donation to McBride Sisters Collection's SHE CAN Fund

Rhea-AI Summary

McBride Sisters Collection, the largest Black-owned wine company in the U.S., received a $2 million donation from Facebook for its SHE CAN Fund. This initiative aims to support 100 Black women entrepreneurs with $20,000 in advertising credits and strategic guidance through a mentorship program. The SHE CAN Fund, originally established in 2019, focuses on promoting the professional development of women in the wine industry and has pivoted its efforts to support small businesses impacted by COVID-19.

Positive

• Facebook's $2 million donation supports Black women entrepreneurs through advertising credits and mentorship.
• SHE CAN Fund aims to bridge the gender and race gap in the wine industry.
• Focus on providing resources to women in traditionally male-dominated fields.

Negative

• No significant negative aspects noted.

OAKLAND, Calif., Sept. 16, 2021 /PRNewswire/ -- McBride Sisters Collection, Inc., the largest Black-owned wine company in the U.S., today announces that it has received a $2 million donation from Facebook, Inc. (NASDAQ: FB) for its 501 (c)(3), McBride Sisters SHE CAN Fund. Facebook has made a commitment to leverage its resources to provide 100 SHE CAN Fund grantees and Black women entrepreneurs with $20,000 in Facebook advertising credits, as well as strategic guidance via Facebook Elevate, a community and learning program created to support and accelerate the growth of Black and Latinx & Hispanic-owned businesses.

"We understand firsthand the impact that Facebook Elevate can have on a small, Black-women-owned business, and the challenges that these businesses face in opening the doors that we ourselves found closed when we launched our own company," states Andréa McBride John, Co-Founder and CEO of McBride Sisters Collection, Inc. "Moving the dial on race and gender inequality takes a village, a long-term commitment, and it requires the leaders in major industries to step up and address the inequities that Black business owners have faced, and continue to face, daily," adds Robin McBride, Co-Founder and President of McBride Sisters Collection, Inc. "We are grateful to have Facebook as a partner in this fight, and in supporting the next class of Black women entrepreneurs, alongside Morgan Stanley, Silicon Valley Bank, and Brand Now."

The McBride Sisters Collection Founders Andréa McBride John & Robin McBride originally established the McBride Sisters SHE CAN Fund in 2019 to promote the professional development of women in the wine industry in a concerted effort to help close the gender and race gap. In the wake of COVID-19, the Sisters pivoted the Fund's 2020 efforts to support Black-and-women-owned small businesses across a number of industries. This year, scholarships will support Black women entrepreneurs in the traditionally male-dominated fields of wine & spirits, hospitality and finance, and in the areas of career growth and professional advancement through continued education and professional certifications. The decision to focus on these industries is based on recent unsettling statistics regarding women in the workforce, which have only been exacerbated by the pandemic.

Facebook recently released its latest Global State of Small Business Report, which shows how women-owned small and midsized businesses have been disproportionally affected by the pandemic. Globally, 20% of women-led small and midsized businesses reported being closed, versus 16% of those led by men.

Facebook's contributions will support 2020 and 2021 grantees of the SHE CAN Fund. Through Facebook Elevate, participating businesses will receive access to their own Facebook marketing expert through Elevate Circles, Facebook's 6-week mentorship program, as well as business coaching from one of Facebook's Elevate partners. Grantees will also be encouraged to visit the Elevate Hub and join the Facebook Elevate Group to gain access to free digital advertising resources and build community with other business owners, creators, community leaders, non-profits and jobseekers.

"With Black-owned businesses shuttering at two times the rate of non-diverse businesses post-COVID, we at Facebook recognize the heightened importance of leveraging our resources to provide ongoing support for these businesses," said Irene Walker, Program Director of Facebook Elevate. "The McBride Sisters are a shining example of the success story that we aim to foster through our Elevate program and we hope to duplicate that level of success for more Black-and-women owned businesses through this partnership."

"We believe that the McBride Sisters SHE CAN Fund can start a wave of change, and we're proud to be teaming up with partners such as Facebook who want to join our fight to help close the race and gender gap in the Wine & Spirits industry and beyond," said Agnes Uboma, Chief Impact Officer of the McBride Sisters SHE CAN Fund. "Our commitment to women-owned and Black-owned businesses is unwavering, and we encourage companies of all sizes to help these businesses and entrepreneurs thrive."

In addition to donations made by Facebook and the McBride Sisters SHE CAN Fund's corporate sponsors Morgan Stanley, Silicon Valley bank, and Brand Now, a portion of the proceeds from 2021 sales of the McBride Sisters Collection SHE CAN wines (up to $100,000) will go towards the SHE CAN Fund's 2021 initiative.

Applications for the SHE CAN Fund 2021 initiative are now closed, and grantees will be announced and awarded in Fall 2021. For more information, please visit https://www.mcbridesisters.com/Our-Story/SHE-CAN.

About McBride Sisters Collection, Inc.:
Robin McBride and Andréa McBride John have been entrepreneurs in the wine industry since 2005. In 2017, they established McBride Sisters Collection, Inc., the largest Black-owned wine company in the U.S. The company's mission is to transform the wine industry, to lead by example and to cultivate community, one delicious glass of wine at a time. These values show up not only in the wines, but in all facets of the company. The signature McBride Sisters Collection wines are direct reflections of the terroirs of Robin and Andréa's youth, with flavors designed for all palates. The fun, fab and eco-friendly SHE CAN collection is inspired by the endless pursuit of all women who are making their dreams a reality and are breaking barriers daily. The Black Girl Magic collection, a personal ode to Robin and Andréa's culture and story, is inspired by the magic and resilience of Black women, to be enjoyed by all.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/facebook-inc-commits-2-million-donation-to-mcbride-sisters-collections-she-can-fund-301378771.html

SOURCE McBride Sisters Collection

FAQ

What is the purpose of the SHE CAN Fund?

The SHE CAN Fund aims to support Black women entrepreneurs by offering scholarships and resources for professional development.

How much did Facebook donate to the SHE CAN Fund?

Facebook donated $2 million to the SHE CAN Fund.

When will the grantees of the SHE CAN Fund be announced?

The grantees will be announced in Fall 2021.

What kind of support do SHE CAN Fund grantees receive?

Grantees receive $20,000 in advertising credits and mentorship through Facebook's Elevate program.

Why was the focus shifted to Black women entrepreneurs?

The focus was shifted due to the disproportionate impact of COVID-19 on women-led businesses.