by Derek Main
December 15, 2023
The drama between The Gathering Spot and Greenwood has come to an finish.
The Atlanta-based, Black-owned networking hub and co-working house The Gathering Spot has cut up from the Greenwood digital banking platform.
The Atlanta Journal-Structure experiences The Gathering Spot’s two co-founders, Ryan Wilson and T’Keel “TK” Petersen, have reacquired majority possession. The cut up marks the top of a partnership between two notable Black-owned firms that merged final yr however whose points grew to become public and have been pushed into courtroom.
Regardless of the cut up, there isn’t any animosity, and each entities understand their significance to the town of Atlanta and the Black group at giant. Greenwood CEO Ryan Glover continues to be a board member and adviser to The Gathering Spot, and Greenwood will stay a shareholder within the house.
“In the end the objective is to attempt to place each of those firms for achievement,” Wilson instructed The Atlanta Journal-Structure about taking the corporate unbiased. “We want one another properly. Each of those firms play an essential function in the neighborhood.”
Greenwood, based by rapper Michael “Killer Mike” Render and former Atlanta Mayor Andrew Younger, bought The Gathering Spot in Might 2022 as the 2 firms shared an curiosity in closing the racial wealth hole and offering extra alternatives and entry for Black residents in Atlanta.
Nevertheless, tensions rose between the 2 firms. In February, Wilson and Petersen filed a go well with towards Greenwood for allegedly withholding funds after buying the corporate. Greenwood countersued in June, saying The Gathering Spot founders misconstrued the settlement.
A month later, Wilson filed a second go well with towards Greenwood, alleging it engaged in intentional misconduct. Days later, it was introduced that Petersen would not be the chief working officer of The Gathering Spot.
Ultimately, The Gathering Spot’s 10,000 members made a public outcry regarding the dispute, resulting in the 2 sides settling their points.
“Each firms stay supportive of one another’s progress as they transition again to working as separate entities,” Glover stated. “Greenwood and The Gathering Spot stay dedicated to the group, persevering with to supply modern options and providers that foster progress and empowerment.”
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