COACHELLA?

Ok, so what is the whole deal with coachella? is it like woodstock or something? Damn, now I really feel young and out of the loop because I feel like i'm the only person in the world who didn't know about or what coachella was. I've been trying to read up on it and read the constant posts that Sarah Morrison has to say about it, but i still don't get it. So like its an outdoor big concert type thing? on the west coast? Oh well, maybe someday I can visit said "coachella".