Latest news with #Wondermind
Elle
6 days ago
- Business
- Elle
Daniella Pierson's Mission to Champion Female Entrepreneurs
The Newsette founder Daniella Pierson has a new venture to add to her portfolio: Chasm. According to TechCrunch, all-women teams currently receive just 1.8 percent of VC funding. This initiative aims to close that gender gap in entrepreneurship, supported by an impressive roster of members, including musician Lionel Richie and Sneex inventor Sara Blakely. Essentially, investors like Richie and Blakely will pay $25,000 a year to be a member of Chasm. With the funds Pierson receives from her high-status friends, she will then disperse monthly grants to young, female entrepreneurs, giving them tools and resources for their businesses to thrive. 'Chasm is going to make a massive dent in the gender gap by focusing on one solution that has a domino effect: creating more successful female entrepreneurs,' Pierson says in a press release. 'If you think about who has the most wealth and power in the world, they have two things in common: They are men and they are entrepreneurs. We're creating an ecosystem rooted in community, insight, and real resources.' As a 29-year-old BIPOC entrepreneur, Pierson says she takes the issue personally. She started The Newsette while still in college and grew it into a powerhouse email juggernaut before leveraging her rapidly expanding network to launch Chasm. Chasm will offer only one grant per month; those interested can apply for these funds by filling out a form online. The site also offers resources for young entrepreneurs, welcoming every woman to join the community. These could be as simple as a membership to Instacart+, the first partner of the new company, which allows less time to be spent at the grocery store for working women. It even has a newsletter, much like Newsette. With her impressive list of backers, Pierson emphasizes, in an email interview, that members are value-driven, hence them giving the $25,000 as a direct grant rather than as an investment. 'They get to see what they're fueling every single day, whether that's through our grant winners, or real stories of impact,' she says. 'Many of these people are dear friends who believe fully in the mission.' The organization is also not a nonprofit. 'The only way to create sustainable, systemic change is by introducing a business model that can fund itself,' Pierson adds. 'If I raise $10 million in donations, I can make $10 million of impact. But, if I use my media background and network to build Chasm into a $500 million company, then we inspire other member-to-many models. That's when billions start flowing toward real, scalable solutions. If I can prove that this model drives both value and change? That's a tide that lifts every boat.' Pierson is also a co-founder of the 'mental fitness ecosystem' Wondermind with Selena Gomez, a website offering resources to those in need. The singer and actress made headlines weeks ago as the startup laid off the majority of its already small staff amid financial troubles. Pierson left the company in 2023, and Chasm continues Pierson's mission-led work. Others involved in Chasm include Instacart CEO and chair Fidji Simo, entrepreneurs Tony and Sage Robbins, and Drybar co-founder Alli Webb.
Daily Mail
20-05-2025
- Entertainment
- Daily Mail
Selena Gomez leaned on her future husband Benny Blanco to come up with a brand-new Oreo flavor
Selena Gomez is celebrating her Mexican-American heritage with her new signature Oreo. The singer and actress, 32, who is reportedly having some financial problems at her Wondermind startup, said she got plenty of help from her fiancé Benny Blanco, 37, in getting it just right. 'Benny was definitely around for some of the tasting! He loves the final result, too!,' the Billboard Music Award winner told People. The Only Murders in the Building star turned to a favorite childhood drink, horchata, which is a favorite treat in Mexico and other Latino countries, to create the new, limited edition flavor. Sandwiched between the two chocolate-cinnamon flavored wafers is a layer of chocolate-cinnamon cream and a layer of sweetened condensed milk cream designed to recreate the flavor of the beloved treat made from milk, ground rice and cinnamon. 'Even if you've never had horchata it was my goal to ignite a sense of familiarity when someone takes a bite,' the Sunset Boulevard singer explained. 'Growing up, horchata was one of those comforting things for me,' she told the outlet. 'Some of my favorite childhood memories involve drinking horchata with my family — it was one of my favorite drinks. I really wanted to bottle up that memory and share it through this cookie.' And if fans are undecided on whether to eat the cookies solo or with a glass of milk, the Magic singer said 'trust me, it tastes even better dipped in milk. That really brings all the flavors together.' A quick ad for the new treat shared on social media Tuesday by Gomez and Lopez already has fans drooling. 'I'm super excited/geeked out to share that I'm collaborating with @oreo! I'm so grateful for the chance to create my very own flavor. The signature chocolate and cinnamon creme cookies hit shelves 6/9.' Your support means the world to me, and I can't wait for everyone to try it! Wishing you all a wonderful week ahead. 'sooo proud of you!!! chocolate and cinnamon are just your things i'll just imagine how good they taste while streaming your songs,' wrote a fan. The Selena + Chef star said she took this project seriously. 'Going back and forth getting the just flavors just right, not too much cinnamon but not too little condensed milk. I wanted it to be perfect.' Proceeds from the sale of Gomez's cookies, which include personalized wafers that include her signature, music notes, and a 'Selenator' version, will fund her non-profit Rare Impact Fund, which connects young people to mental health resources. 'For me, this is the most important part of partnering with Oreo,' she said. The goal the collaboration is to will help the Rare Impact Fund reach its goal of raising $100 million.
Yahoo
15-05-2025
- Business
- Yahoo
Selena Gomez's Billionaire Status Disputed in New Report
's billionaire status is being questioned amid reports of her mother Mandy Teefy's mental health foundation, Wondermind, being under a cash crunch. Following a recent investigation, Forbes has dethroned the actor-singer from the 10-figure bracket. The business magazine giant estimated Gomez's net worth at $700 million. The latest report came after Forbes revealed over the weekend that Wondermind had failed to pay its employees in recent weeks. According to Forbes' latest investigation, Selena Gomez's estimated net worth is $700 million. The magazine countered the Rare Beauty founder's billionaire status after reporting on financial issues at Wondermind. Over the weekend, Forbes revealed in a report that Wondermind failed to meet payroll in March and April. The mental health startup was cofounded by Gomez, her mom Mandy Teefey, and newsletter entrepreneur Daniella Pierson, who left in 2023. Following that, Forbes learned from a source that Wondermind laid off nine people of its 15-person staff. The move came after a Wondermind spokesperson told the outlet on Saturday that the company had 'rectified' the situation. They also assured the startup would clear all outstanding debts on Monday. The spokesperson told Forbes, 'In the coming days we will be transitioning into a new chapter for Wondermind.' The statement had also noted that the company was experiencing 'growing pains' similar to 'many startups.' This led to 60% of the staff getting laid off on Monday. According to the Forbes source, the employees were told they would be paid on May 12 and also receive two weeks of severance. Meanwhile, the spokesperson claimed that Wondermind's layoffs were not a result of their employees previously revealing the company's financial crisis to Forbes. The reports also prompted searches about Gomez's billionaire status amid the swirling rumors about the financial crisis. In September last year, Bloomberg reported the 32-year-old's huge milestone when she crossed the 10-figure mark. According to the outlet's Billionaires Index, Gomez's stands at $1.3 billion. Bloomberg also noted that a huge percentage of the businesswoman's fortune comes from her beauty brand. However, Forbes has now estimated Selena Gomez's wealth status falls short of the billionaire mark. Originally reported by Shriya Swami on Reality Tea. The post Selena Gomez's Billionaire Status Disputed in New Report appeared first on Mandatory. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
15-05-2025
- Entertainment
- Time of India
Selena Gomez turns heads at an event despite financial woes tied to mental health startup
Selena Gomez Selena Gomez continues to dazzle in the spotlight, even as controversy brews offstage. The singer and actress made a stunning red carpet appearance at Upfront presentation in New York on Tuesday, effortlessly brushing off a wave of negative press surrounding her finances and her mental health startup, Wondermind . Wearing a show-stopping black gown with a thigh-high slit and a sleek hairstyle, Gomez smiled confidently alongside her 'Only Murders in the Building' co-stars, Steve Martin and Martin Short. Her poised presence came just hours after 'Forbes' released a report challenging earlier claims that placed her in the billionaire club. Billionaire status debunked, Wondermind under scrutiny According to Forbes, Selena's estimated net worth is closer to $700 million, not the $1.3 billion that Bloomberg previously reported in 2024. The publication also shed light on growing financial turbulence at Wondermind—a mental wellness brand co-founded by Gomez, her mother Mandy Teefey, and entrepreneur Daniella Pierson in 2021. Citing internal sources, the article detailed how the company allegedly delayed multiple payments to both employees and freelancers, cut down on staff, and accrued unpaid debts reportedly worth tens of thousands of dollars. More shockingly, it claimed Mandy Teefey had to take out a personal loan against her own home in an effort to stabilize the startup, while Selena has personally invested millions to keep the venture afloat. While Gomez is said to have little involvement in the startup's daily operations, the financial pressure surrounding Wondermind has inevitably raised questions about the stability of the brand. A spokesperson for Wondermind responded to Forbes, calling the recent issues 'growing pains' and confirming that all outstanding problems had now been 'resolved.' Career momentum remains unstoppable Despite the chaos, Selena remains unfazed in public. With her acting career flourishing—thanks to the success of 'Only Murders in the Building' and her beauty brand Rare Beauty continuing to dominate the cosmetics industry, the 32-year-old is keeping her focus on what she does best. Check out our list of the latest Hindi , English , Tamil , Telugu , Malayalam , and Kannada movies . Don't miss our picks for the best Hindi movies , best Tamil movies, and best Telugu films .
Time of India
14-05-2025
- Business
- Time of India
Is Selena Gomez really a billionaire? New report says maybe not amid rumours that her mental health start-up fired 9 employees
Selena Gomez was officially crowned a billionaire by Bloomberg back in September 2024. The world cheered, and fans proudly declared her one of the youngest self-made billionaires on the planet. But now, a fresh report from Forbes is questioning her billionaire status amid rumours about her connection to a struggling mental health startup she co-founded. According to the publication, while Selena is definitely wealthy, she may not have hit the billion-dollar mark after all. New report suggests Gomez isn't quite a billionaire While Selena Gomez remains one of the wealthiest and most influential women in entertainment, Forbes now estimates her net worth at closer to $700 million, not the previously reported $1.3 billion. The discrepancy largely concerns how assets are valued, particularly her ownership stake in the beauty brand, Rare Beauty. Gomez reportedly holds a 51% stake in Rare Beauty, which had a blockbuster year in 2023, bringing in $367 million in revenue thanks to its cult-favorite products like the Soft Pinch liquid blush. Based on industry multiples and growth trends, analysts say the company's valuation at around $1.3 billion. However, because the beauty market is crowded and less stable right now, Forbes used a more cautious estimate for Gomez's net worth. Rare Beauty is by far Gomez's biggest financial asset. Outside the cosmetics industry, she has earned an estimated $90 million from music, acting, and significant brand deals, but far less than peers, including best friend Taylor Swift, who rakes in hundreds of millions from stadium tours and global franchises. Despite the recalculated figure by the publication, Gomez, the most-followed woman on Instagram with 420M followers, remains among the top self-made women in entertainment, and her Rare Beauty brand continues to expand globally. Is Selena Gomez's mental health start-up struggling? While Rare Beauty keeps flying off Sephora shelves, Selena's other venture, Wondermind, a mental health startup she launched with her mom, Mandy Teefey and former partner Daniella Pierson, isn't exactly thriving, the Forbes report claimed. According to the report, the startup hasn't been paying its employees, freelancers, or vendors. In fact, nine team members were recently laid off after the company missed paychecks in both March and April. This comes after an earlier report that suggested Selena's mom took out a loan against her own house to keep things going. As per an employee who spoke to the publication on the condition of anonymity, it all came crashing down on March 31, when Wondermind employees didn't get their paycheck and instead received an email saying their health benefits had actually been cancelled two weeks earlier. Then came April 30, and employees were still not paid. By May 8, things had gotten so bad that Mandy Teefey told staff she had taken out a loan against her home to help keep the company afloat. The final blow came on Monday, when nine employees were laid off. The employee also told the publication that the Disney alum hasn't really been involved much in the company. She's been busy filming season five of Only Murders in the Building and making surprise appearances at Rare Beauty's Mental Health Summit. Fans have thoughts—of course After Forbes dropped the report, Selena's loyal fanbase came rushing to her defence. 'Mind you, multiple sources confirmed Selena Gomez is a billionaire, including FORBES themselves,' one fan clapped back online. mind you, multiple sources confirmed that Selena Gomez is a billionaire, including FORBES themselves. 🚨 Currently, Forbes website is behaving suspiciously strangely regarding Selena Gomez's that the outlet reported that Gomez is a multimillionaire in its article from October of last year. Despite the ongoing frenzy surrounding the report, Selena Gomez has remained completely silent.
