TV personality and local entrepreneur plans to bring billions back to Black communities

By Emeka Dibia
Contributing Writer

Entrepreneurship started at a young age for real estate investor Darren Walker. In fact, the Harvey-native started his first LLC by the age of 14. Now at 33, while overseeing a multi-million dollar real estate portfolio, Walker works to launch a new social network to increase economic power in Black and urban communities.

BEAN, Building Economic Advancement Network, would connect users to a number businesses committed to making a positive economic impact in Black and urban communities. The app using blockchain technology would allow users to monitor their daily economic impact and also view the economic impact of businesses they support. By spending money in the BEAN network users will be able to earn BEAN coin tokens, the app’s own form of cryptocurrency.

DARREN WALKER

The inspiration to form BEAN began about eight years ago when Walker learned in an article African Americans significantly lagged behind other racial groups in economic upward mobility despite having the 16th largest buying power in the world. A talk with a friend after learning that information only fueled his desire more to change the economic disparity gap among African Americans.

“I was having a conversation with a friend who is a white American when I was telling him about doing something about this sort of problem he mentioned to me everybody knows who has their hand out waiting for the government to help them… Black people.” Walker said. “I went on a journey after that to begin to uncover why things are the way they are…that’s how that initial passion to do BEAN got started.”

According to data and measurement company, Neilsen, African Americans possess a buying power of $1.2 trillion yearly in the United States. BEAN wants to capture within the next three to five years about two percent of that number ($26 billion to be exact) and confirm those dollars flowed through its network to support Black and urban communities.

“My goal is to get our economics to normative levels. So I’m not necessarily trying to have us do more than other groups but we’re so far behind and what ends up happening is that in general society it becomes [a notion that] African Americans whether they’re lazy or all these other negative stereotypes.” Walker said. “I believe those problems are connected to our history in this country and so we never really had that sort of fair shot to leverage our resources to create that uplift. My goal is to allow BEAN to be that platform to do that.”

The app is set to launch this fall with all the bells and whistles of social media such as: live calling, video chats and messaging. Also, users will be able to review businesses within the BEAN network based on their experiences.

BEAN has 16 percent of its shares up for private investment. Now through December 31, 2018, investors can purchase shares with equity in accordance with the U.S. Securities Exchange Commission’s (SEC) rules under the Jobs ACT, Title III, Regulation Crowdfunding.

BEAN shares start for a minimum investment of $250 and maximum investment of $107,000. For every investment until the end of the year investors will also receive BEAN Coin tokens.

Walker’s face may seem familiar to you. He and his wife Lucy show off their skills in real estate and renovation on the DIY Network’s hit show, Louisiana Flip N Move. Also, Walker has found success in both the solar energy and fresh food industries.

This article originally published in the September 10, 2018 print edition of The Louisiana Weekly newspaper.