{"id":140013,"date":"2020-12-22T18:43:43","date_gmt":"2020-12-22T15:43:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/joanna-coles-eyes-second-spac-with-islanders-co-owner\/"},"modified":"2020-12-22T18:43:43","modified_gmt":"2020-12-22T15:43:43","slug":"joanna-coles-eyes-second-spac-with-islanders-co-owner","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/joanna-coles-eyes-second-spac-with-islanders-co-owner\/","title":{"rendered":"#Joanna Coles eyes second SPAC with Islanders co-owner"},"content":{"rendered":"

“#Joanna Coles eyes second SPAC with Islanders co-owner<\/strong>”
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Joanna Coles \u2014 who once ran Marie Claire and its racier sister Cosmopolitan \u2014 is reinventing herself following her departure from Hearst. <\/p>\n

In addition to Freeform show \u201cThe Bold Type,\u201d<\/a> loosely based on her days at Cosmo, Coles has joined the male-dominated world of buying companies using special-acquisition purpose vehicles, or SPACs. <\/p>\n

She made an unlikely teaming with the NHL\u2019s New York Islanders majority owner Jon Ledecky in September to raise money through their Northern Star Acquisition Corp. SPAC. Last week they unveiled that the SPAC has agreed to acquire Bark Box, a subscript<\/a>ion service for dog lovers, in a deal that values the startup at $1.6 billion.<\/p>\n

And the pair are already onto the next one. <\/p>\n

\u201cJon and I are looking to do another SPAC,\u201d she told Media<\/a> Ink of the financial instruments commonly known as blank-check companies. SPACS are publicly traded shell companies that raise money to buy or merge with a real business that then takes over their ticker symbols, a sort of reverse IPO. <\/p>\n

The British-born Coles rose through the ranks at Hearst to become the magazine division\u2019s \u2018 first ever chief content officer before she left in 2018, shortly after the company picked Troy Young over her as the new division president. <\/p>\n

She is chairman and CEO of Northern Star. Ledecky is the president and COO.<\/p>\n

\u201cHe\u2019s the SPAC mechanic,\u201d said Coles. \u201cI was very much interested in doing something in the data driven and e-commerce space.\u201d Ledecky\u2019s other SPAC\u2019s include Endeavor Acquisition Corp., which merged with American Apparel, and Pivotal II, which merged with XL Hybrids in the electric car business, according to SEC documents. <\/p>\n

\u201cAs far as I know, I\u2019m only the second woman to do an SPAC,\u201d said Coles. <\/p>\n

Despite her long career in journalism, she didn\u2019t pursue media targets with the money raised in her SPAC.<\/p>\n

\u201cI was less inclined to do something in media,\u201d said Coles, who is also on the board of SNAP parent of Snapchat and recently joined the board of audio hardware and software maker Sonos. \u201cOur purchasing habits have changed dramatically under COVID. It\u2019s accelerated the process by ten years,\u201d she explaining why she was instead attracted to the e-commerce which sends out one million packages a month to its pet loving subscribers. <\/p>\n

She said more than half the households in the United States own a dog thanks to COVID, a purchase that have consequences for years to come. \u201cPeople aren\u2019t giving their dogs away away after COVID,\u201d she said. <\/p>\n

She will join the board member of BarkBox once the deal is finalized in the first quarter of 2021 and begins publicly trading under the symbol BARK. Current CEO Bark Marish Joneja, a former Amazon executive who joined earlier this year, stays in place as the CEO as will BarkBox co-founders, Matt Meeker, Henrik Werdelin and Carlye Strife. <\/p>\n

\u201cEveryone is staying around,\u201d said Coles. <\/p>\n

Beside \u201cThe Bold Type,\u201d Coles is an executive producer of dramatic series<\/a> \u201cValley of the Gods,\u201d created by Peter Nowalk of \u201cHow to Get Away with Murder.\u201d The show, greenlighted by ABC for a September 2021 debut, is described by ABC is \u201cthe most powerful people in Silicon Valley and the hungry, underestimated outsiders trying to claw their way in.\u201d\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Joanna Coles eyes second SPAC with Islanders co-owner” Joanna Coles \u2014 who once ran Marie Claire and its racier sister Cosmopolitan \u2014 is reinventing herself following her departure from Hearst. In addition to Freeform show \u201cThe Bold Type,\u201d loosely based on her days at Cosmo, Coles has joined the male-dominated world of buying companies using…<\/p>\n","protected":false},"author":1,"featured_media":140014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/12\/NORTHERN_STAR_ACQUISITION-IPO.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[87405,87560,70425,5007,87561,4935,70584,70360],"class_list":["post-140013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12-22-20","tag-cosmopolitan-magazine","tag-hearst","tag-ipo","tag-joanna-coles","tag-media-ink","tag-mergers-acquisitions","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/140013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=140013"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/140013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/140014"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=140013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=140013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=140013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}