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Emerson Collective
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Emerson Collective is a for-profit corporation focused on education, immigration reform, the environment, media and journalism, and health. Founded by Laurene Powell Jobs,[2] the LLC uses philanthropy, impact investing, advocacy, and community engagement as tools to spur change in the United States and abroad.[8] They are a limited liability company (LLC) and a prime example of philanthrocapitalism.
Emerson Collective, LLC
Named afterRalph Waldo Emerson[1]
Established2004; 17 years ago[2]
FounderLaurene Powell Jobs[2]
TypeLimited Liability Company[3][2]
PurposeEducation, environmental activism, immigration reform, supports public policy advocates[1][4]
HeadquartersPalo Alto, California, US[4]
Methods
President
Laurene Powell Jobs[6]
Key people
Websitewww​.emersoncollective​.com
History
Emerson Collective was founded in 2004 by Laurene Powell Jobs in Palo Alto, California.[2] Named after transcendentalist writer Ralph Waldo Emerson, the organization says its mission is to do the greatest amount of good for the greatest number of people.[9]
In 1997, Powell Jobs had founded the nonprofit organization College Track, a college completion program to combat the achievement gap among students of color.[8] When Emerson Collective was established in 2004, grants and investments largely focused on the education sector. When Powell Jobs began learning more about the challenges plaguing immigrant students, particularly those whose undocumented status made it difficult to attend college, Emerson Collective broadened its portfolio to include immigration reform and advocacy.[8]
Powell Jobs and Emerson Collective were strong advocates of the creation of President Barack Obama’s Deferred Action for Childhood Arrivals (DACA) program and have continued to push for permanent legislation to provide "Dreamers" with a path to citizenship.[10] In October 2016, she wrote the article “Immigrants Fuel Innovation. Let’s Not Waste Their Potential” for WIRED Magazine.[11]
In 2015, Emerson Collective's Managing Director of Education Russlynn H. Ali launched the affiliate XQ Institute, a nonprofit dedicated to rethinking American public high school.[12]
In 2015, Emerson Collective became the lead investor in education technology company Amplify.[13]
In 2016, Andy Karsner joined Emerson Collective to launch Emerson Elemental, a practice dedicated to investments in the environmental and clean energy space. Karsner previously served in the United States Department of Energy as Assistant Secretary for Energy Efficiency and Renewable Energy.[14]
In 2016, former U.S. Secretary of Education Arne Duncan joined Emerson Collective to launch Chicago CRED, a nonprofit committed to curbing gun violence in Chicago through counseling, training, and matching young men with jobs.[15]
In 2017 and 2018 Emerson Collective supported the immigration-focused work of the artist JR, and helped bring Alejandro González Iñárritu’s Academy Award-winning, virtual reality experience Carne Y Arena to Washington, D.C.[10][16]
In 2019, Emerson Collective led a round of funding for Boom Supersonic, an aerospace company that aim's to make supersonic commercial flight a realization again, and it's proposed 55-passenger business class transport. [17]
In recent years the organization has expanded its reach into art, film, and media, journalism, sports, and other creative ventures.
Media investments and donations
On September 1, 2016, Emerson Collective invested in series A funding for Axios Media, a news website focusing on business, technology, politics and media trends.[18][19]
On July 28, 2017, Emerson Collective became the majority owner of The Atlantic, purchasing the majority stake from Atlantic Media's David G. Bradley.[20][21] The outlets owned by Emerson Collective include The Atlantic magazine and its digital properties along with its standout events line, AtlanticLIVE, and its consulting division, Atlantic 57. The Washington Post reports Emerson Collective plans to move to full ownership of The Atlantic in "three to five years" after their 2017 investment.[22]
On August 1, 2017, Gimlet Media, the podcasting startup behind the shows StartUp, Reply All and Homecoming, announced that it had raised a new round of financing from investors including the Stripes Group and the Emerson Collective.[23][24][25]
In 2018, Emerson Collective acquired the parent of California Sunday and Pop-Up Magazine.[26]
Emerson Collective has donated money to Mother Jones (magazine).[27]
References
  1. ^ a b "Our Mission - Emerson Collective". Emerson Collective. Archived from the original on November 26, 2017. Retrieved November 26, 2017.
  2. ^ a b c d e "Emerson Collective - Overview". Crunchbase. Retrieved November 25, 2017.
  3. ^ "Arne Duncan Joins Emerson Collective". EdSurge. March 20, 2016. Retrieved August 15, 2018.
  4. ^ a b c "Company Overview of Emerson Collective LLC". Bloomberg. November 25, 2017. Archived from the original on November 26, 2017. Retrieved November 26, 2017. Emerson Collective LLC invests and advocates for immigration reform, environment, school improvement, and social justice initiatives through investments in entrepreneurs and nonprofits. It also supports public policy advocates. Emerson Collective LLC was founded in 2004 and is based in Palo Alto, California.
  5. ^ White, Gillian B. (July 28, 2017). "Emerson Collective Acquires Majority Stake in The Atlantic". The Atlantic. Retrieved August 15, 2018.
  6. ^ a b c d "Our Team - Emerson Collective". Emerson Collective. Archived from the original on November 26, 2017. Retrieved November 26, 2017.
  7. ^ Dylan Byers (October 15, 2018). "Saudi ties entangle Laurene Powell Jobs' Emerson Collective". NBC News. Retrieved October 16, 2018. Klein, a Wall Street rainmaker and former Citigroup executive, is a managing partner at Emerson and helps manage the company's business
  8. ^ a b c "The Quest of Laurene Powell Jobs". Washington Post. Retrieved August 31, 2018.
  9. ^ "Emerson Collective - About Us". Emerson Collective. Retrieved August 31, 2018.
  10. ^ a b "The Welcoming Committee". Marie Claire. Retrieved August 31, 2018.
  11. ^ "Immigrants Fuel Innovation. Let's Not Waste Their Potential". WIRED. Retrieved August 31, 2018.
  12. ^ "Laurene Powell Jobs Commits $50 Million to Create New High Schools". New York Times. Retrieved August 31, 2018.
  13. ^ "Laurene Powell Jobs Among Buyers of News Corp's Digital Education Business". The Hollywood Reporter. Retrieved August 31, 2018.
  14. ^ "Nuclear Power Will Be an Undeniable Power Source In The Future". Fortune. Retrieved August 31, 2018.
  15. ^ "Chicago CRED Offers a Lifeline to Young Black Men". Chicago Sun Times. Retrieved August 31, 2018.
  16. ^ "It takes only 6 minutes to be immersed in the immigrant experience". Washington Post. Retrieved August 31, 2018.
  17. ^​https://www.forbes.com/sites/jeremybogaisky/2019/01/04/boom-raises-100m-to-develop-supersonic-jet-its-going-to-need-a-lot-more/?sh=1d8bf07277e3
  18. ^ "Series A - AXIOS Media". Crunchbase. Retrieved November 25, 2017.
  19. ^ Sarah Ellison (November 30, 2016). "Exclusive: Mike Allen and Jim Vandehei Reveal Their Plan for Media Domination". Vanity Fair. Archived from the original on May 8, 2017. Retrieved November 25, 2017. Axios wants to focus on business, technology, politics, and media trends [...]
  20. ^ White, Gillian B. (July 28, 2017). "Emerson Collective Acquires Majority Stake in The Atlantic". The Atlantic. Retrieved July 28, 2017.
  21. ^ Halper, Daniel (July 28, 2017). "Key Dem Donor Takes Over 'Country's Most Important' Journalistic Institution". The Washington Free Beacon. Retrieved July 29, 2017.
  22. ^ Wemple, Erik (July 28, 2017). "Laurene Powell Jobs's Emerson Collective to purchase majority stake in the Atlantic". The Washington Post. ISSN 0190-8286. Retrieved August 24, 2017.
  23. ^ Jarvey, Natalie (August 1, 2017). "Gimlet Media Raises $15 Million From Stripes Group, Emerson Collective". The Hollywood Reporter. hollywoodreporter.com. Retrieved August 8, 2017.
  24. ^ Spangler, Todd (August 1, 2017). "Podcast Startup Gimlet Media Raises $15 Million From Stripes Group, Laurene Powell Jobs' Emerson Collective". Variety. variety.com. Retrieved August 8, 2017.
  25. ^ "Series B - Gimlet Media". Crunchbase. Retrieved November 25, 2017.
  26. ^ Swisher, Kara (November 27, 2018). "Laurene Powell Jobs's Emerson Collective bought Pop-Up Magazine Productions". Recode. Retrieved November 28, 2018.
  27. ^ Sarah McBride; Gerry Smith (April 25, 2019). "Billionaire Laurene Powell Jobs Turned Her LLC Into a VC Machine". Bloomberg. Archived from the original on April 29, 2019. Retrieved September 6, 2020. Powell Jobs has said she finds the demise of local news particularly troubling. That concern prompted Emerson to not just take stakes in media organizations but to donate to nonprofits like the Marshall Project, Mother Jones
External links
Last edited on 13 May 2021, at 05:02
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