Petal Card is getting acquired by Empower.
Originally a credit card for millennials underwriting cash flows, now is more focused on credit building.
Raised >$300M (Valar led the A,B,C), most recently @ $800M (1/22). Had been for sale for quite a while.
Empower has raised quite a bit less - $175M in Debt + Equity.
🚀🔥 Super excited to announce that Empower has signed a definitive agreement to acquire @petal!
With this acquisition, we're able to take a giant leap forward in our vision to underwrite the next billion people in the world.
Back when AirBnB started it was like natural hosts renting out their cute homes and being like, "There's craft beer for you in the fridge!" and now it's someone's 80th rental property with plastic Ikea furniture and it's also out of soap.
Over 60M Americans have credit scores under 700, and 45M are literally credit invisible: they have no score. Access to credit is a key, so this is a big problem.
I sat down with @warrenhogarth to talk about how his startup @EmpowerHQ fixes this.
https://t.co/TaafQFrIix
Today, when introducing WWI, a student raised her hand and brought up the death of a certain archduke. Nobody knew his name, so as a hint, I offered that he shares his name with a band.
Gentle reader, my students asked if there had perhaps been an Archduke Metallica.
Fun little trick in the Sunday New York Times crossword yesterday: the central theme clue was "The better of two sci-fi franchises", and regardless of whether you put Star Wars or Star Trek, the crossing clues worked
by 2040, 90% of coders will be making productivity software. the other 10% will be making productivity tools for the people who make productivity software. when the sea levels rise we'll float through our cities on kanban boards like venice while discussing new agile practices
🧐How to Read 10Ks Like a Hedge Fund🧐
“Fundamentals don’t matter anymore!” I’ve heard this a lot lately on Fintwit.🙄
But, for those who’ve diversify beyond $GME and $DOGE, here’s a primer on what metrics fundamental buy-side PMs look at and why:
(real examples outlined)
👇