In the wake of a first deal with Disney and an ultra-successful Nike campaign, Colin Kaepernick forms a special-purpose acquisition company that raises $ 250 million in its initial public offering, according to a file released Tuesday with the DRY.
The company, Mission Advancement Corp., is co-founded by Jahm Najafi and plans to acquire an approximately $ 1 billion company that has the potential to create positive social and cultural impact.
This target has not yet been identified, but the file indicates that they are looking for a company that reflects these three themes: âI. Consumers invest in brands that reflect their social values ââand recognize that purchasing decisions can act. as instruments of change. II. Companies are increasingly mission-oriented and seek to align with culturally relevant social causes. III. Brands are evolving into media platforms, enabling authentic cultural and celebrity influencers to help increase awareness, marketing exposure and value.
Mission Advancement Corp. will leverage Kaepernick’s brand marketing and investment experience with its “mainstream popularity, massive reach and high profile relationships” to attract investors and, after completing the acquisition, it has the ‘intention to remain active as owner, board member and global ambassador.
The board is made up of top talent from various industries, including Ava DuVernay, Birchbox Founder Katia Beauchamp, Former Marketing Director of Beats by Dre Omar Johnson, Head of Brand Consumer Marketing at Google Attica Jacques and Brian Lee, who co-founded The Honest Company. with Jessica Alba and ShoeDazzle with Kim Kardashian.
“Najafi and Kaepernick’s commitment to their social mission is reflected in the formation of the independent board of directors, made up of 100% Black, Indigenous and Colored (BIPOC) and predominantly female” case. âIn addition, our team has indicated its intention to launch an initiative as part of the completion of our initial business combination to provide students from under-represented communities with the ability to access scholarships and opportunities on time. full in business and finance. “