MINNEAPOLIS -Utne magazine, a national progressive lifestyle magazine and independent media company is positioning itself to serve as a vehicle for mission-driven companies looking to raise capital. The recent success with Reed’s, Inc., maker of all-natural Reed’s Ginger Beer and other natural beverages and candies, raised the awareness among executives at Utne that the spending power of Utne’s readers and their choices in supporting companies and products they care about extends to investments opportunities as well as consumer purchases.
Utne provides a targeted, socially conscious and wealthy demographic that is interested in investing their money in companies with similar values.
With just a single full-page ad featuring its IPO in the November-December issue of Utne magazine, approximately 500 readers indicated interest in nearly half the amount that CEO Chris Reed contemplated raising in fiscal 2006. Reeds plans to expand the brand nationally with the $8 million dollars the company hopes to capture with its IPO.
“It was a tremendous response, well beyond our expectations!” said Reed, who founded the company in 1989. “It’s proven to be a highly effective method to reach the people who know and like our products.”
“Reeds experience confirms what we have known all along”notes Judy Rudrud, Utne president and publisher. “s an independent media company, we are actively providing similar platforms of growth for others.” In fact, the May-June issue of Utne will feature another full-page color ad placed by Hemptown Clothing Inc. (NASD OTCBB: HPTWF), a leading provider of environmentally responsible natural fibers and bio-technical eco-textile research, inviting Utne readers to learn more about investment opportunities.
About Utne
Since 1984, Utne has been a leading voice in independent media, bringing readers a visceral and informed point-of-view on issues ranging from the environment to the economy and from politics to pop culture–the kind of stories you’ll find in the mainstream media months or years from now. Reaching a total audience of nearly 700,000, Utne taps into the pulse of what’s emerging in culture by engaging with the most visionary thinkers and doers of our time and by reading thousands of indie publications, web sites, blogs, newly published books, films and other off-the-beaten-path sources. Read more at http://www.utne.com
