Snapchat partners with Google, Will Smith to pay Black content creators $120,000 a year

Snap's initiative, called 523, offers mentorships as well as a reference to Snapchat's original address: 523 Ocean Front Walk in Venice, California

Snapchat has partnered with Google Pixel, Will and Jada Pinkett Smith's Westbrook Media, and others to support Black content creators

Snapchat officials said in a statement that black creators face unique obstacles across the creator industry, including disparities in compensation and attribution

The best way we can help remove some of those barriers is to provide mentorship and financial resources to emerging Black creators at the beginning of their careers

Candidates must identify as Black and be emerging talent over 18 years old to qualify for the program

A new Google Pixel, mentoring, expert education, exposure, and marketing will all be provided to the 25 content creators chosen

Since slapping comedian Chris Rock in a now infamous onstage moment at the 94th Academy Awards in March, Smith has maintained a low public profile

On an episode of her Red Table Talk, Pinkett Smith addressed the dramatic encounter, saying she hopes the two actors can reconcile