Cash-flow negative Acorns raises $300 million in bridge capital after failed IPO bid, which allows 'anchor investor' BlackRock to increase its stake at a reduced valuation
The Newport Beach, Calif.-based robo-advisor finds profits and AUM elusive but has what BlackRock wants -- wide wealth management distribution of ETFs to young investors too cool for traditional advisors
Author Oisin Breen March 10, 2022 at 11:06 PM
Andres Garcia-Amaya taps two industry vets to guide Zoe Financial through the RIA referral market's rocky shoals, which have sunk more than one firm
Backed by a $2 million VC injection from JP Morgan and ex-BlackRock execs, the NYC startup appoints wirehouse veteran Robert Deutsch and Acorns' investment guru Chris Jones to board
October 9, 2018 at 8:55 PM
March 11, 2022 — 6:44 PM
This is a company struggling to find market fit. They started down the wrong path, with the wrong clientele (people who couldn't pay and had little money) and they're now throwing spaghetti against the wall to see what sticks. Good luck - I applaud the efforts, but I don't see the vision yet, and neither will the public market. They've got a lot of work to do.