Essence, the first magazine aimed at African-American women, was created by four, young, Black entrepreneurs in the aftermath of massive racial and political upheaval in the United States in 1968. The venture was a financial, branding and cultural success. By 2005, the company was sold to Time Warner, Inc, the largest magazine publisher in the world at that time, for the highest price ever paid for a single-title magazine company. However, there is still debate about whether the last remaining co-founder, Edward Lewis, jeopardized the iconic Black brand by selling it to a white-owned company.