Ellen Degeneres, who was inspired greatly by 12 – year old, You Tuber Greyson Chance, announced she is starting a record label called eleveneleven, and he is her first signing. This news contradicts with original reports that Interscope Records, home to Lady Gaga, had scooped up the almost teen sensation who has thus far managed to garner over 30 Million hits on You Tube. Who knows what went on behind closed doors, but what we do know is that this kid can sing. Looks like Ellen is following in the footsteps of Simon Cowell. In addition to TV Host and Producer, she can now add music executive and entrepreneur to her resume.