By Shaherose Charania (Co-Founder & CEO, Women 2.0) Today, 85 Broads launched a global media campaign called It's Women to encourage companies, VC's, super angels, and high net worth investors to dramatically increase their investment in startups founded by women entrepreneurs.
On October 19, 2004, 85 Broads staged a one-day "Buycott" as a symbolic gesture to encourage Fortune 500 companies to pay greater attention to the enormous purchasing power of women. Business Week covered the Buycott and Trendsight summed up our impact! Fast forward to 2011. According to the US Census Bureau, it's women who oversee 85% of all consumer spending in America, which amounts to $5 trillion annually. Globally, it's women who account for $20 trillion in consumer spending annually — a rate that is expected to accelerate rapidly over the next 5 years.
As Aileen Lee (Partner, Kleiner Perkins) wrote a great piece on TechCrunch explaining "Why Women Rule the Internet" --
"Consumer web companies are growing at an unprecedented rate in terms of both user adoption and revenue. But here's a little secret that's gone unnoticed by most. When it comes to social and shopping, it's women who rule the internet."
"Look at Facebook, Zynga, Groupon, and Twitter: the majority of their users are female. Bottom line, women are the routers and the amplifiers of the social web and they are the rocket fuel of e-commerce."
WOMEN = PROFITS
Women purchase the lion's share of goods and services produced globally. For that reason, investing in women-owned startups will keep our global economy growing!
The campaign's mission is to dramatically accelerate the funding and growth of high-potential, high-growth, women-led startups by showcasing their biggest investors and champions: Golden Seeds, Astia, Illuminate Ventures, The Women's Venture Capital Fund, Women 2.0, the Pipeline Fund and those who are boldly making the case for investing in women. 85 Broads is also teaming up with The Good Girls, a women-focused strategic branding, design and communications firm founded by Holly Lynch, on the campaign launch.
Editor's note: Got a question for our guest blogger? Leave a message in the comments below. About the guest blogger: Shaherose Charania is Co-Founder and CEO of Women 2.0. Shaherose spun Founder Labs, a pre-incubator program for early-stage mobile startups, out of Women 2.0 and runs programs in Silicon Valley and NYC. Prior to Women 2.0, she was at Opinno, Ribbit (BT), JAJAH (sold to Telefonica/O2), and TiE. At heart she is a mobile and telephony junkie. Shaherose aspires to pour her entrepreneurial spirit into launching mobile solutions for emerging economies. Follow her on Twitter at @shaherose.