The platform, which prides itself on being pro-life, pro-family, and pro-freedom, is set to be acquired by Colombier Acquisition Corp. in a special purpose acquisition company (SPAC) deal. Following the merger, PublicSq. will become a public company trading under the ticker symbol PSQH on the New York Stock Exchange. The company officials will ring the opening bell on Thursday to mark this milestone.
PublicSq. CEO Michael Seifert founded the company in January 2021. The idea for the platform originated when Seifert and his wife compiled a list of businesses whose values aligned with their own and that they felt proud to support. After sharing the list with friends, they decided to create a digital environment where other businesses could be added. The site quickly gained popularity among both consumers and businesses.
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Seifert believes that PublicSq. fills a void in the market, catering to a large segment of the United States population that feels ignored or antagonized by woke or progressive corporatism. The platform currently boasts over 1.1 million active consumer members and more than 55,000 businesses, with 90% of them being small businesses. Accounts are free for both buyers and sellers.
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Joining PublicSq. is a simple process for businesses. They sign up, which takes approximately four minutes, create their profile, and agree to respect the platform's core values. This essentially means that sellers commit not to spend time, money, or resources in opposition to those values. Seifert clarifies that PublicSq. is not asking businesses to be political but rather to refrain from lecturing consumers about their views and values. The aim is to ensure that consumers do not feel compelled to support causes they oppose.
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Once a business signs up, PublicSq. conducts a vetting process to ensure that the seller does not publicly oppose the platform's core values and to verify the legitimacy of the business. This process typically takes no more than 24 hours.
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PublicSq.'s growth has been remarkable. In addition to its website, the company offers an app that is available for download from the Apple App Store and Google Play. This fall, the platform will introduce a feature that allows buyers to make purchases from multiple vendors using a single shopping cart within the app.
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Furthermore, PublicSq. has started selling its own products in cases where customers are seeking a specific item but the platform has been unable to find a vendor that aligns with its values. For instance, the company recently launched Everylife, a line of diapers and baby wipes, which Seifert claims is the nation's first openly pro-life diaper company.
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Seifert envisions PublicSq. as an alternative to Amazon and believes that, with the support of consumers and future investors, this goal can be achieved. He emphasizes the importance of the platform being "by the people, for the people, and owned by 'we the people.'" Seifert encourages individuals to rally around PublicSq. and contribute to the development of a patriotic, parallel economy.
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