Emerson Collective
{{Short description|American philanthropy company}}
{{Multiple issues|
{{COI|date=September 2020}}
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{{Use mdy dates|date=September 2017}}
{{Infobox organization
|name = Emerson Collective, LLC
|named_after = Ralph Waldo Emerson
|image = Emerson_Collective_logo_2017.png
|image_size = 250px
|alt = Logo of the Emerson Collective
|established = {{start date and age|2004}}{{citation needed|date=July 2021}}
|founder = Laurene Powell Jobs
|type = Limited Liability Company{{cite web |title=Arne Duncan Joins Emerson Collective |url=https://www.edsurge.com/news/2016-03-20-arne-duncan-joins-emerson-collective |publisher=EdSurge |access-date=15 August 2018 |date=20 March 2016}}
|purpose = Education, environmental activism, immigration reform, supports public policy advocates{{cite web|title=Our Mission - Emerson Collective|url= http://www.emersoncollective.com/about-us|website=Emerson Collective|access-date=26 November 2017|archive-url= https://web.archive.org/web/20171126005834/http://www.emersoncollective.com/about-us |archive-date=26 November 2017}}{{cite web|title=Company Overview of Emerson Collective LLC|url= https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=263956917 |website=Bloomberg |access-date=26 November 2017 |archive-url= https://web.archive.org/web/20171126010503/https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=263956917 |archive-date=26 November 2017|date=25 November 2017|quote=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.}}
|headquarters = Palo Alto, California, US
|methods = {{ubl|Advocacy|Impact investments|Philanthropy{{cite web |last1=White |first1=Gillian B. |title=Emerson Collective Acquires Majority Stake in The Atlantic |url= https://www.theatlantic.com/business/archive/2017/07/emerson-collective-atlantic-coalition/535215/ |publisher=The Atlantic |access-date=15 August 2018 |date=28 July 2017}}}}
|leader_title = President
|leader_name = Laurene Powell Jobs{{cite web|title=Our Team - Emerson Collective|url= http://www.emersoncollective.com/our-team|website=Emerson Collective|access-date=26 November 2017|archive-url= https://web.archive.org/web/20171126005246/http://www.emersoncollective.com/our-team|url-status=dead|archive-date=26 November 2017}}
|key_people = {{Unbulleted list|Michael Klein {{small|(Managing Partner)}}{{cite news |last1=Dylan Byers |title=Saudi ties entangle Laurene Powell Jobs' Emerson Collective |url=https://www.nbcnews.com/news/all/saudi-connections-become-personal-laurene-powell-jobs-atlantic-n920156 |access-date=16 October 2018 |work=NBC News |date=15 October 2018 |quote=Klein, a Wall Street rainmaker and former Citigroup executive, is a managing partner at Emerson and helps manage the company's business}}|Arne Duncan {{small|(Managing Partner)}}|Andy Karsner {{small|(Managing Partner)}}|Dan Tangherlini ({{small|CFO)}}}}
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|website = {{Official URL}}
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Emerson Collective is an organization focused on education, immigration reform, the environment, media and journalism, and health. Founded by billionaire philanthropist Laurene Powell Jobs, the collective, which operates under a limited liability company (LLC) model, uses philanthropy, impact investing, advocacy, and community engagement as tools to broadly spur change in the United States and abroad.{{cite news|title= The Quest of Laurene Powell Jobs |url= https://www.washingtonpost.com/news/style/wp/2018/06/11/feature/the-quest-of-laurene-powell-jobs/ |newspaper=The Washington Post|access-date=31 August 2018}} The organization is considered to be one of the leading groups engaged in philanthrocapitalism.{{Cite web |title=The Gift - Leigh House - The Incubator for Disruptive Philanthropy |url=https://www.e-flux.com/architecture/the-gift/593469/the-incubator-for-disruptive-philanthropy/ |access-date=2024-08-05 |website=www.e-flux.com |language=en}} One of its most high-profile acquisitions was its majority interest in The Atlantic magazine in 2017.
History
Emerson Collective was founded in 2004 by Laurene Powell Jobs in Palo Alto, California. 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.{{cite web|title=Emerson Collective - About Us|url=https://www.emersoncollective.com/about-us|website=Emerson Collective|access-date=31 August 2018}}
In 1997, Powell Jobs had co-founded, together with Carlos Watson, the nonprofit organization College Track, a college completion program to combat the achievement gap among students of color.{{cite news |title=In Unusual Move, Ithaca College President Joins Laurene Powell Jobs' College Track |url=https://www.edsurge.com/news/2021-07-08-in-unusual-move-ithaca-college-president-joins-laurene-powell-jobs-college-track |access-date=5 October 2021 |date=8 July 2021 |quote=College Track got started in 1997 when Laurene Powell Jobs and Carlos Watson}}{{cite news |author1=THEODORE SCHLEIFER |title=Laurene Powell Jobs' Bizarre Week in the Headlines |url=https://puck.news/laurene-powell-jobs-bizarre-week-in-the-headlines/ |access-date=5 October 2021 |work=Puck |date=29 September 2021 |quote=Powell Jobs has been close with Ozy C.E.O. Carlos Watson for decades—the two co-founded College Track, her first philanthropic initiative, back in East Palo Alto in 1997}} 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.
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.{{cite web|title=The Welcoming Committee|url=https://www.marieclaire.com/politics/a22716448/laurene-powell-jobs-emerson-collective-immigration-reform/|website=Marie Claire|date=August 15, 2018|access-date=31 August 2018}} In October 2016, she wrote the article "Immigrants Fuel Innovation. Let's Not Waste Their Potential" for WIRED.{{cite magazine|title= Immigrants Fuel Innovation. Let's Not Waste Their Potential.|url=https://www.wired.com/2016/10/immigrants-fuel-innovation-lets-not-waste-potential/|magazine=WIRED|access-date=31 August 2018}}
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.{{cite news|title= Laurene Powell Jobs Commits $50 Million to Create New High Schools|url=https://www.nytimes.com/2015/09/14/us/laurene-powell-jobs-commits-dollar50-million-to-create-new-high-schools.html?_r=0|work=The New York Times|date = September 14, 2015|access-date=31 August 2018|last1 = Medina|first1 = Jennifer}}
In 2015, Emerson Collective became the lead investor in education technology company Amplify.{{cite web|title=Laurene Powell Jobs Among Buyers of News Corp's Digital Education Business|url=https://www.hollywoodreporter.com/news/laurene-powell-jobs-buyers-news-842610|access-date=31 August 2018|website=The Hollywood Reporter|date=November 20, 2015}}
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.{{cite web|title= Nuclear Power Will Be an Undeniable Power Source In The Future|url=http://fortune.com/2016/05/16/nuclear-energy-undeniable/|website=Fortune|access-date=31 August 2018}}
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.{{cite web|title=Chicago CRED Offers a Lifeline to Young Black Men|url=https://chicago.suntimes.com/working/michael-reed-arne-duncan-cred-is-a-lifeline-young-black-males-from-divested-communities/|website=Chicago Sun Times|access-date=31 August 2018|archive-date=August 31, 2018|archive-url=https://web.archive.org/web/20180831212049/https://chicago.suntimes.com/working/michael-reed-arne-duncan-cred-is-a-lifeline-young-black-males-from-divested-communities/|url-status=dead}}
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.{{cite news|title= It takes only 6 minutes to be immersed in the immigrant experience |url=https://www.washingtonpost.com/entertainment/museums/it-takes-only-6-minutes-to-be-fully-convinced-of-the-immense-power-of-virtual-reality/2018/03/23/8728752a-2eac-11e8-b0b0-f706877db618_story.html|newspaper=The Washington Post|access-date=31 August 2018}}
In 2019, Emerson Collective led a round of funding for Boom Supersonic, an aerospace company that aims to make supersonic commercial flight a realization again, and its proposed 55-passenger business-class transport.{{Cite web|url=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|title = Boom Raises $100M to Develop a Supersonic Airliner. It's Going to Need a Whole Lot More|website = Forbes}}
In April 2025, it was reported that the company invested in io Products, which was founded by Jony Ive and Sam Altman, to create a new artificial intelligence hardware device.{{Cite web |last=Mehta |first=Ivan |date=2025-04-07 |title=OpenAI reportedly mulls buying Jony Ive and Sam Altman's AI hardware startup |url=https://techcrunch.com/2025/04/07/openai-reportedly-mulls-buying-jony-ive-and-sam-altmans-ai-hardware-startup/ |access-date=2025-05-18 |website=TechCrunch |language=en-US}}
Media investments and donations
- Invested in Ozy,{{cite news |title=Marc Lasry steps down from Ozy Media's board following scandal |url=https://www.axios.com/marc-lasry-ozy-media-155f11ce-979e-4191-befc-3faaa6dc870b.html |access-date=5 October 2021 |work=Axios |date=30 September 2021 |quote=Other investors in that deal included [...] Emerson Collective}} and was one of its first backers.{{cite news |author1=Jody Serrano |title=Ozy Media's Lies Made It Go Up in Flames [Updated] |url=https://gizmodo.com/ozy-medias-lies-made-it-go-up-in-flames-1847788696 |access-date=5 October 2021 |work=Gizmodo |date=2 October 2021 |quote=Emerson Collective, Laurene Powell Jobs’ company dedicated to investing and advocacy, said that while it had been one of Ozy’s first backers}}
- On September 1, 2016, invested in series A funding for Axios Media, a news website focusing on business, technology, politics and media trends.{{cite web|author1=Sarah Ellison|author-link=Sarah Ellison|title=Exclusive: Mike Allen and Jim Vandehei Reveal Their Plan for Media Domination|url=https://www.vanityfair.com/news/2016/11/mike-allen-and-jim-vandehei-reveal-their-plan-for-media-domination-axios|website=Vanity Fair|access-date=25 November 2017|archive-url=https://web.archive.org/web/20170508112452/https://www.vanityfair.com/news/2016/11/mike-allen-and-jim-vandehei-reveal-their-plan-for-media-domination-axios|archive-date=8 May 2017|date=30 November 2016|quote=Axios wants to focus on business, technology, politics, and media trends [...]}}
- On July 28, 2017, became the majority owner of The Atlantic, purchasing the majority stake from Atlantic Media's David G. Bradley.{{cite news|last1=White|first1=Gillian B.|title=Emerson Collective Acquires Majority Stake in The Atlantic|url=https://www.theatlantic.com/business/archive/2017/07/emerson-collective-atlantic-coalition/535215/|access-date=July 28, 2017|work=The Atlantic|date=July 28, 2017}} 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 {{As of|alt=2017|2017}} investment.{{Cite news|url=https://www.washingtonpost.com/blogs/erik-wemple/wp/2017/07/28/laurene-powell-jobss-emerson-collective-to-purchase-majority-stake-in-the-atlantic/|title=Laurene Powell Jobs's Emerson Collective to purchase majority stake in the Atlantic|last=Wemple|first=Erik|date=July 28, 2017|newspaper=The Washington Post|access-date=August 24, 2017|language=en-US|issn=0190-8286}}
- In 2017, invested, along with the Stripes Group, in Gimlet Media, the podcasting startup behind the shows StartUp, Reply All and Homecoming.{{cite news |last=Jarvey |first=Natalie |date=August 1, 2017 |title=Gimlet Media Raises $15 Million From Stripes Group, Emerson Collective |url=http://www.hollywoodreporter.com/news/gimlet-media-raises-15-million-stripes-group-emerson-collective-1026032 |work=The Hollywood Reporter|location=hollywoodreporter.com |access-date=August 8, 2017}}{{cite news |last=Spangler |first=Todd |date=August 1, 2017|title=Podcast Startup Gimlet Media Raises $15 Million From Stripes Group, Laurene Powell Jobs' Emerson Collective|url=https://variety.com/2017/digital/news/gimlet-media-podcast-funding-stripes-group-laurene-powell-jobs-emerson-collective-1202513409/ |work=Variety |location=variety.com|access-date=August 8, 2017}}
- In 2018, acquired the parent of California Sunday and Pop-Up Magazine.{{Cite web| last = Swisher| first = Kara |author-link=Kara Swisher | title = Laurene Powell Jobs's Emerson Collective bought Pop-Up Magazine Productions| work = Recode| access-date = 2018-11-28| date = 2018-11-27| url = https://www.recode.net/2018/11/27/18114661/laurene-powell-jobs-emerson-collective-pop-up-magazine-productions}}
- In 2021, invested, along with others, a total of $12 million in WaitWhat. WaitWhat is a podcast and media company founded and led by former TED executives June Cohen and Deron Triff.{{cite web |last1=Lunden |first1=Ingrid |title=WaitWhat raises $12M to double down on what comes after podcasts |url=https://techcrunch.com/2021/06/21/waitwhat-raises-12m-to-double-down-on-what-comes-after-podcasts/ |website=techcrunch.com |date=June 21, 2021 |publisher=TechCrunch |access-date=23 May 2023}}
- Has donated money to Mother Jones.{{cite news |last1=Sarah McBride |last2=Gerry Smith |title=Billionaire Laurene Powell Jobs Turned Her LLC Into a VC Machine |url= https://www.bloomberg.com/news/articles/2019-04-25/billionaire-laurene-powell-jobs-turned-her-llc-into-a-vc-machine |access-date=6 September 2020 |work=Bloomberg |date=25 April 2019 |archive-url= https://web.archive.org/web/20190429203707/https://www.bloomberg.com/news/articles/2019-04-25/billionaire-laurene-powell-jobs-turned-her-llc-into-a-vc-machine |archive-date=29 April 2019}}
References
{{Reflist|30em}}
External links
- {{Official|http://www.emersoncollective.com/}}
- [https://twitter.com/EmCollective Official Twitter Account]
Category:Organizations based in Palo Alto, California