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CHASING GIANTS


November 08, 2023 02:33 PM


THIS PRIVATE NETWORKING GROUP IS THE NEW HUB FOR THE CITY'S LEADERS OF COLOR

Anne Kadet
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Buck Ennis

2045 Studio founder Porter Braswell (speaking with mic) addresses a group of
members at the company's Flatiron clubhouse. 


THE UPSTART: 2045 STUDIO  
 

Porter Braswell's first startup, the recruiting platform Jopwell, had a specific
mission—to help companies hire people of color. His second, launched in June,
represents a natural progression. The private membership club, 2045 Studio, aims
to help companies invest in diverse employees by providing them mentorship and
executive coaching.

Following the killing of George Floyd, Braswell says, companies pledged billions
to DEI efforts, but little was spent. Tenure for people of color in leadership
roles, meanwhile, continues to lag that of white employees. In 2021, just 21.5%
of executives and senior level officials in New York—workers within two levels
of the CEO—were people of color, according to data from the U.S. Equal
Employment Opportunity Commission. Braswell designed 2045 as a perk that
companies can offer such employees to increase the odds that they’ll stick
around—and get promoted.

To qualify for membership, which costs $2,500 to $10,000 annually, a person must
self-identify as a person of color, says Braswell: “We allow for the individual
to determine what that means.”

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2045 offers two kinds of memberships. Community members, who join directly, get
access to the Flatiron District clubhouse, digital meetups and interest groups,
online workshops and networking events. “It’s more for being social,” says
Braswell. Community members are typically professional athletes, investors,
entrepreneurs and creatives.





Memberships in the 2045 Leader community are available only to professionals who
are nominated and sponsored by their employers. These members typically have at
least seven years of professional experience, hold mid-to-senior level roles and
have been identified as a star or rising star by their employer.

A Leader membership includes twelve hours annually of one-on-one coaching and
access to "council groups"—circles of 6-10 professionals who meet on a regular
basis with an executive coach of color.



Leaders can also attend dinners and other evening events including
off-the-record talks with C-level executives of color, workshops and forums on
topics such as serving on boards.

The company's 10,000 square-foot clubhouse, open 9 am to 9 pm on weekdays,
features a rooftop lounge and garden, spaces for working and socializing and a
café serving free espresso drinks and snacks from Black-owned companies. Members
can book conference rooms and private offices for no additional fee.

2045, which has 15 employees and is based in the Flatiron District, has so far
attracted 30 corporate partners including Pfizer and Ford. Companies are
currently capped at five members each to avoid overrepresentation by any one
employer. The number of Community members is roughly equal to the number of
Leaders, says Braswell, and 85% of the membership lives in the tri-state area.

Shola Aminu has been a clubhouse regular since the space opened in September.
His membership is sponsored by his employer, the advertising agency Ogilvy,
where he is the global director for diversity, equity and inclusion. He
sometimes spends full workdays in 2045’s clubhouse. "I'm just comfortable there
getting my work done," he says. "I refer to it as a safe space—a home away from
home where I can meet like-minded folk."

He also attends evening events, like a recent mixology class. "I made six new
friends," he says. "We all made plans to go a jazz club in Midtown two weeks
from now."

He says that the fact that Ogilvy is sponsoring his membership is an additional
factor in him choosing to stay with his employer. "There's some FOMO around it,"
he says of 2045. "Everybody wants to be part of it."





THE REIGNING GOLIATH: CHIEF       
 

Chief, also based in New York, offers similar services and membership tiers, but
is aimed at women professionals. Launched in 2019, corporate partners include
Google, Morgan Stanley and L’Oréal. It has 20,000 members, landed $100 million
in funding in 2022 and has clubhouses in five cities including New York.


HOW TO SLAY THE GIANT


Braswell searched high and low for a clubhouse space. He came close to making an
offer on a townhouse but there was no way to make it accessible.

Then he had a brain flash: What happened to the clubhouse space formerly
occupied by the Wing? The women-only social club and coworking space closed last
year amid accusations that it mistreated its hourly workers, mainly people of
color. "I thought, 'What if we reclaim it for our community?' says Braswell.

Sure enough, the space was available, but its landlord was wary of renting to
what appeared to be another coworking outfit.

Braswell emphasized that his business model was different—more than 80% of his
company revenue comes from corporate sponsorships rather than individual
members. He signed a lease in late spring.

Buck Ennis

2045 Studio has so far attracted 30 corporate partners including Pfizer and
Ford. 

Fundraising for 2045 was relatively easy compared to his experience launching
Jopwell back in 2014 when Braswell was an unknown. "There's a privilege to being
a second-time founder," he says. "You have leverage."




This time, he had his pick of investors and was able to negotiate favorable
terms for 2045’s pre-seed round by stimulating competition for shares. His
strategy: providing a clear and concise vision of just how large his company
could be.

His investors also share his vision for the office of the future. "With the
creation of 2045, we believe in the future of a corporate America that reflects
the population at large," says Ken Chenault Jr., Co-Founder & Managing Partner
at VC firm Benchstrength, which invested in 2045's $4.2 million pre-seed round,
which closed in June.

To land corporate partners, Braswell capitalized on his existing relationships
with employers who had used Jopwell for recruiting, typically approaching
C-level executives and division heads who are able to sponsor employees.

"A lot of times, what ends up happening is that people who qualify to be a 2045
Leader will go to their company and say, 'Can you sponsor me?'" he adds.

The club is attracting community members, meanwhile, by letting Leaders bring
guests to events. The startup has spent zero dollars on marketing. "It's all
organic," says Braswell.


THE NEXT CHALLENGE


Having established the club in New York, Braswell has dinners scheduled in Los
Angeles, Atlanta, Chicago, Toronto, Washington and London with influential
executives of color, he says, to discuss launching 2045 in their cities.




Within the next few years, he says, 2045 will have a flagship clubhouse in
several large cities in addition to chapters operating in smaller markets.

"Some may be bigger, some may be significantly smaller, but we'll always have
the ability to help local community gather," he says. "We're deeply focused on
making sure that wherever and whenever we show, we can deliver on the promise of
helping people uplift themselves personally and professionally."

Anne Kadet is the creator of Café Anne, a weekly newsletter with a New York City
focus. 

Know a New York startup you would like to see featured in a future column? Write
to anne.kadet@crainsnewyork.com.


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