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Colin Kaepernick forms a SPAC

Feb. 10, 2021 12:47AM EST
Dan Ackermann

Former NFL quarterback Colin Kaepernick on Tuesday disclosed that he has formed a blank-check company that will seek to raise $250 million in an IPO.

Why it matters: Kaepernick hasn't played pro football since 2016, but has remained a cultural lightening rod — either loved or loathed for his social activism, including his strong support of the Black Lives Matters movement.

Details: The SPAC is called Mission Advancement Corp., and designed to acquire a company at "the intersection of consumer and impact."

  • Kaepernick is the SPAC's co-chair and co-sponsor, and is working in partnership with venture capital firm The Najafi Companies.
  • Directors include Attica Jaques, Google's head of global brand consumer marketing, and Katia Beauchamp, co-founder and CEO of Birchbox.

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German publisher Axel Springer acquires Politico

German publishing giant Axel Springer has acquired Politico, according to a news release out Thursday.

Why it matters: The deal is valued at about $1 billion, per CNN, making it one of the most expensive media merger deals of late. Axel Springer also acquired the remaining 50% of the two companies' joint venture, Politico Europe, and the tech news website Protocol from publisher Robert Allbritton.

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Democratic machine spending millions in full-scale campaign to sell Biden's COVID relief

All the muscles of the Democratic Party are engaged in selling President Biden's COVID-19 relief bill just days after it was signed, with Democrats treating the $1.9 trillion package like a candidate.

Why it matters: The efforts underscore how closely Biden himself — and the broader Democratic machine — have tied the popularity of his first major piece of legislation to the success and ultimate survival of his presidency.

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Podcast: The art and business of political polling

The election is just eight days away, and it’s not just the candidates whose futures are on the line. Political pollsters, four years after wrongly predicting a Hillary Clinton presidency, are viewing it as their own judgment day.

Axios Re:Cap digs into the polls, and what pollsters have changed since 2016, with former FiveThirtyEight writer and current CNN politics analyst Harry Enten.

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