Conservative Amazon alternative to go public
The platform is an online marketplace made up of vendors whom the company has vetted as abiding by core conservative principles.
A conservative alternative to Amazon, will soon appear on the stock market, its CEO has announced.
PublicSq., which markets itself as a venue where consumers may "shop your values, locally and online," has set a target date for its initial public offering (IPO) on July 20.
"We're actually taking the company public on July 20, after a shareholder vote from a SPAC that we're partnered with on July 19," CEO Michael Seifert said Monday on the "Just the News, No Noise" television show. "And then there'll be a great opportunity for this company to be owned by the very consumers and businesses that have helped to build it."
A Special Purpose Acquisition Corporation (SPAC) is a corporate entity created for the purpose raising money to acquire another firm. Former President Donald Trump's Truth Social platform currently seeks to go public through a merger with SPAC Digital World.
"Capital markets are in desperate need of democratization," Seifert continued. "Because unfortunately, the capital markets have been robbed by ESG mandated funds and DEI philosophies. And just like there's a drive for consumers to spend their money in alignment with their values. There's also an equally strong drive for investors to invest their money with companies that do not hate them, and actually want to promote America. So that's what we're here to do."
The platform is an online marketplace made up of vendors whom the company has vetted as abiding by core conservative principles. Seifert touted the volume and range of vendors that had signed up.
"We have well over 55,000 vendors on the platform now," he said. "And whether you're looking for a bank, new meat, subscription boxes, or hair care products, or pants, or athletic clothing, you name it, we've got it represented on the platform."
"So what's pretty cool is that every single one of the vendors that have joined this platform have actually agreed to respect our core values. And a majority of the businesses will then give discounts to consumers that are there just for being PublicSq. members," he went on.
Ben Whedon is an editor and reporter for Just the News. Follow him on Twitter.