Former NFL quarterback Colin Kaepernick revealed Tuesday that he has set up a company with blank checks that will try to raise $ 250 million in an IPO.
Why does it matter: Kaepernick has not played professional football since 2016, but has remained a cultural lightning rod – either loved or hated by his social activism, including his strong support for the Black Lives Matters movement.
Details: SPAC is called Mission Advancement Corp. and is designed to acquire a company at the “intersection of the consumer and the impact.”
- Kaepernick is the co-chair and co-sponsor of SPAC and works in partnership with venture capital firm The Najafi Companies.
- Executives include Attica Jaques, Google’s head of global brand consumer marketing, and Katia Beauchamp, co-founder and CEO of Birchbox.