I know as much about stocks and business as Aretha Franklin knows about compassion-fashion, so when I was tipped off that Al Gore (the granddaddy of green) was planning on raising close to 100 million for his company, Current Media, by filing for an IPO, the first thing I did was…go on frigin Wikipedia!!
For those out there who are just as confused about finance as I am, IPO stands for Initial Public Offering and is basically the first sale of a stock by a private company to the public. Still confused? Think of it this way: let’s say I own Vegan Bloggers Inc. and I want to build my company and raise extra capital. I file for an IPO and if it’s approved then it’s goes public for trading on the stock market and hopefully I make a bagillion vegan dollars. Now back to the topic at hand.
Al Gore wants to take Current Media public and according to the filing:
“We believe there is a significant gap between what is being delivered by traditional sources of TV and what is demanded by young adults. Young adults need and want news and information about what is going on in their world; however, they have not had a news and information source on TV that speaks to them. Young adults increasingly are turning to other platforms, especially the Internet, for news and information.
As a result, there is a large market opportunity to develop an integrated media platform capable of cost-effectively engaging young adults around news, information and lifestyle entertainment, and to build a brand premised on communicating what is going on in the lives of this young-adult generation. There is demand from both young adults and the advertisers.”
That’s right ya’ll-looks like the Goreminator is rolling up his biodegradable, eco-friendly sleeves and playing media ball with the big boys. Is Rupert Murdoch shaking in his boots? I guess only time will tell. The good news is that this only continues to prove that green is the new black and we’re really starting to see the world change. Here’s to a new tomorrow!