 | |
| Traded as | |
|---|---|
| Headquarters | Los Angeles, California |
| CEO | Jason Wilk |
| Industry | |
| URL |
dave |
| Registration | Required |
| Users | 10 million |
Dave (also known as Dave.com [1]) is a digital banking service. The service' main focus is on cash advances. [2] This service works off of tips and subscription fees rather than overdraft fees. [2]
Services
Dave's main service is short-term lending. The company does not charge interest, or origination or similar fees, instead charging for expedited service, and a monthly fee to use the service, and giving the option to "tip" the company. [3] [4] Lauren Saunders of the National Consumer Law Center expressed concern that some users may feel compelled to tip, resulting in it being not too different from paying interest. [5] Dave launched a banking service in 2019, [6] through a partnership with Evolve Bank & Trust. [7] [8] It has a service for finding side-work called SideHustle. [9]
History
Shark Tank star Mark Cuban led a $3 million seed investment round in the company, saying he was crushed by overdraft fees in his twenties. The CEO of Dave, Jason Wilk, [10][ circular reference] was the former creator of AllScreen, a company which was also originally funded by Cuban who put in a $300,000 investment. [11] [12] After the initial investment in Dave by Cuban and other investors, the total funding of the app has increased to $180 million, after the $50 million investment by Norwest Venture Capital. [13] The Dave app was the Apple App of the Day in April 2017. [14] It has been downloaded 10 million times on iOS, [14] and over a million times on Android devices. [15] In July 2019, the company was named one of the next billion dollar startups by Forbes. [14] In October 2019, Dave received a valuation of US$1 billion, and had over 4 million users. [4] [3]
Dave was ranked number five in Inc. Magazine's list of 5,000 fastest growing companies for 2021. [16] Dave went public on NASDAQ via SPAC on Jan 6 2022 through VPC Impact Acquisition Holdings III created by longtime Dave investor Victory Park Capital. [2] [17] The initial valuation was $4 billion. [18]
References
-
^
"Archived copy". Archived from
the original on 2022-04-23. Retrieved 2022-04-23.
{{ cite web}}: CS1 maint: archived copy as title ( link) - ^ a b c León, Riley de (6 January 2022). "Mark Cuban-backed banking app Dave begins trading on the Nasdaq after completing SPAC merger". CNBC. Retrieved 13 January 2022.
- ^ a b "Upstart banking company Dave is now worth $1 billion, as Norwest puts in $50 million". 30 September 2019.
- ^ a b "Banking App Dave Reaches $1B Valuation, Plans for 100 Hires Next Year".
- ^ Melendez, Steven (May 2, 2017). "Mark Cuban's "Dave" Spots You No-Interest Loans To Avoid Overdraft Fees". Fast Company. Retrieved Oct 30, 2019.
- ^ Amore, Samson (February 2, 2022). "Dave Inc. Raises $110 Million, Launches Banking Business". Los Angeles Business Journal. Retrieved February 2, 2022.
- ^ Broughton, Kristin (December 13, 2021). "Consumer Finance Startup Dave Eyes Acquisitions, Crypto After SPAC Deal". WSJ. Retrieved February 2, 2022.
- ^ Son, Hugh (July 23, 2020). "Mark Cuban-backed finance app Dave says its new mobile bank account is headed for 1 million users". CNBC. Retrieved February 2, 2022.
- ^ Wilhelm, Alex (January 6, 2022). "Mark Cuban-backed fintech Dave's public offering puts SPACs to the test". TechCrunch. Retrieved February 2, 2022.
- ^ "Jason Wilk".
-
^ CNBC.com, Ron Grover, special to (2017-11-15).
"How relentless emailing helped this 25-year-old snare $300,000 from Mark Cuban". CNBC. Retrieved 2020-06-24.
{{ cite web}}: CS1 maint: multiple names: authors list ( link) - ^ "Dave CEO Jason Wilk on the startup's stealth funding, working with Mark Cuban, and more". Built In Los Angeles. Retrieved 2020-06-24.
- ^ "Finance App Dave Inc. Raises $50 Million | Los Angeles Business Journal". labusinessjournal.com. October 2019. Retrieved 2020-06-24.
- ^ a b c Feldman, Amy. "Next Billion-Dollar Startups 2019". Forbes.
- ^ "Dave - Banking For Humans - Apps on Google Play". play.google.com.
- ^ "An Exclusive Guide to America's Top Private Companies". Inc.com. 2021. Archived from the original on 29 January 2022. Retrieved February 2, 2022.
- ^ León, Riley de (January 6, 2022). "Mark Cuban-backed banking app Dave begins trading on the Nasdaq after completing SPAC merger". CNBC. Retrieved February 1, 2022.
- ^ "Mark Cuban-backed banking app Dave to go public in $4 bln SPAC merger". Reuters. June 7, 2021. Retrieved February 2, 2022.
External links
 | This article about a financial services corporation of the United States is a stub. You can help Wikipedia by expanding it. |
|
| |
| Traded as | |
|---|---|
| Headquarters | Los Angeles, California |
| CEO | Jason Wilk |
| Industry | |
| URL |
dave |
| Registration | Required |
| Users | 10 million |
Dave (also known as Dave.com [1]) is a digital banking service. The service' main focus is on cash advances. [2] This service works off of tips and subscription fees rather than overdraft fees. [2]
Services
Dave's main service is short-term lending. The company does not charge interest, or origination or similar fees, instead charging for expedited service, and a monthly fee to use the service, and giving the option to "tip" the company. [3] [4] Lauren Saunders of the National Consumer Law Center expressed concern that some users may feel compelled to tip, resulting in it being not too different from paying interest. [5] Dave launched a banking service in 2019, [6] through a partnership with Evolve Bank & Trust. [7] [8] It has a service for finding side-work called SideHustle. [9]
History
Shark Tank star Mark Cuban led a $3 million seed investment round in the company, saying he was crushed by overdraft fees in his twenties. The CEO of Dave, Jason Wilk, [10][ circular reference] was the former creator of AllScreen, a company which was also originally funded by Cuban who put in a $300,000 investment. [11] [12] After the initial investment in Dave by Cuban and other investors, the total funding of the app has increased to $180 million, after the $50 million investment by Norwest Venture Capital. [13] The Dave app was the Apple App of the Day in April 2017. [14] It has been downloaded 10 million times on iOS, [14] and over a million times on Android devices. [15] In July 2019, the company was named one of the next billion dollar startups by Forbes. [14] In October 2019, Dave received a valuation of US$1 billion, and had over 4 million users. [4] [3]
Dave was ranked number five in Inc. Magazine's list of 5,000 fastest growing companies for 2021. [16] Dave went public on NASDAQ via SPAC on Jan 6 2022 through VPC Impact Acquisition Holdings III created by longtime Dave investor Victory Park Capital. [2] [17] The initial valuation was $4 billion. [18]
References
-
^
"Archived copy". Archived from
the original on 2022-04-23. Retrieved 2022-04-23.
{{ cite web}}: CS1 maint: archived copy as title ( link) - ^ a b c León, Riley de (6 January 2022). "Mark Cuban-backed banking app Dave begins trading on the Nasdaq after completing SPAC merger". CNBC. Retrieved 13 January 2022.
- ^ a b "Upstart banking company Dave is now worth $1 billion, as Norwest puts in $50 million". 30 September 2019.
- ^ a b "Banking App Dave Reaches $1B Valuation, Plans for 100 Hires Next Year".
- ^ Melendez, Steven (May 2, 2017). "Mark Cuban's "Dave" Spots You No-Interest Loans To Avoid Overdraft Fees". Fast Company. Retrieved Oct 30, 2019.
- ^ Amore, Samson (February 2, 2022). "Dave Inc. Raises $110 Million, Launches Banking Business". Los Angeles Business Journal. Retrieved February 2, 2022.
- ^ Broughton, Kristin (December 13, 2021). "Consumer Finance Startup Dave Eyes Acquisitions, Crypto After SPAC Deal". WSJ. Retrieved February 2, 2022.
- ^ Son, Hugh (July 23, 2020). "Mark Cuban-backed finance app Dave says its new mobile bank account is headed for 1 million users". CNBC. Retrieved February 2, 2022.
- ^ Wilhelm, Alex (January 6, 2022). "Mark Cuban-backed fintech Dave's public offering puts SPACs to the test". TechCrunch. Retrieved February 2, 2022.
- ^ "Jason Wilk".
-
^ CNBC.com, Ron Grover, special to (2017-11-15).
"How relentless emailing helped this 25-year-old snare $300,000 from Mark Cuban". CNBC. Retrieved 2020-06-24.
{{ cite web}}: CS1 maint: multiple names: authors list ( link) - ^ "Dave CEO Jason Wilk on the startup's stealth funding, working with Mark Cuban, and more". Built In Los Angeles. Retrieved 2020-06-24.
- ^ "Finance App Dave Inc. Raises $50 Million | Los Angeles Business Journal". labusinessjournal.com. October 2019. Retrieved 2020-06-24.
- ^ a b c Feldman, Amy. "Next Billion-Dollar Startups 2019". Forbes.
- ^ "Dave - Banking For Humans - Apps on Google Play". play.google.com.
- ^ "An Exclusive Guide to America's Top Private Companies". Inc.com. 2021. Archived from the original on 29 January 2022. Retrieved February 2, 2022.
- ^ León, Riley de (January 6, 2022). "Mark Cuban-backed banking app Dave begins trading on the Nasdaq after completing SPAC merger". CNBC. Retrieved February 1, 2022.
- ^ "Mark Cuban-backed banking app Dave to go public in $4 bln SPAC merger". Reuters. June 7, 2021. Retrieved February 2, 2022.
External links
|
| This article about a financial services corporation of the United States is a stub. You can help Wikipedia by expanding it. |