Articles tagged "Acorns"
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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
March 10, 2022 at 11:06 PM
Not only was Acorns' SPAC IPO felled like an oak but it'll pay a fat termination fee for release of liability
The Irvine, Calif., robo-advisor is blaming 'market conditions' but it's the one paying the penalty fee and praising its punisher
January 19, 2022 at 5:34 AM
Acorns sure seems ripe for Robinhood's picking now that there are zero degrees of separation post-Say Technologies deal, analysts say
Two Say Technologies co-founders happen to be Acorns brass, too, and the two business models complement each other immensely, close observers say
August 17, 2021 at 3:50 AM
Acorns is raising $565 million to Robinhood-ize itself; lately, that includes self-direction options and buying fintechs
Combining a SPAC IPO raise of $400 million and a $165-million hedge fund placement, the Irvine, Calif.-based robo-advisor needs a reboot after nearly a decade grew AUM to only about $5 billion
May 29, 2021 at 12:27 AM
Drew Sievers woos fresh $12 million in capital and a fat $15-million loan to renamed Trizic
Now named 'Harvest,' the CEO of the robo-for-banks won't kiss or tell -- except about those 18 banks signing on in 18 months.
December 13, 2019 at 7:52 AM
Oisin's Bits: Vanguard aborts banking effort, because it was more fixated on beating BoA than being itself, an analyst says; SEI is killing it in the Mercer/Russell realm by competing with a retrofitted TAMP-thingy
The $5.3-billion Malvern, Pa. monster finds its investors want it to stick to investing, not checking accounts and the Oaks, Pa. TAMP leader gets upmarket with no-conflict pitch and product fit and
March 22, 2019 at 11:22 PM
NBCUniversal and Acorns join forces in $105-million mega-round in play to make two millennial quagmires into one big monetization play
CNBC is desperate to attract millennial viewers and the robo-advisor needs to make 4.5 million micro-accounts profitable and the result is an unconventional pairing.
February 11, 2019 at 11:53 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
A year after Acorns gets outed, Betterment faces its juvenile past with 2018 FINRA settlement over 2014 infraction
The $14B robo's ADV will remain clean but it'll live -- like Acorns before it -- with a BrokerCheck violation based on how it managed cash when it was a $608-million firm with a smaller compliance staff
June 22, 2018 at 8:17 PM
Mindful of 'Snapchat' dynamic, BlackRock takes big Acorns stake after the micro-robo wins 2.2 million investors in 12 months
The $6.3-trillion asset manager led the $50-million round to ensure a foothold at LA-based firm with an app that onboards 6,000 investors daily
May 24, 2018 at 3:28 AM
As Acorns grapples with monetizing 1.1 million micro-accounts, the laid-back LA robo-advisor brings Wealthfront’s former chief exec onto its board
After this week's $1.3-billion Robinhood valuation, the sheer quantity of Acorn accounts may count for plenty in VC estimations
April 28, 2017 at 9:50 PM
Eaton Vance leads a $40-million investment round in SigFig with an eye toward capturing some of its lightning to spark NextShares
For his millions, Eaton Vance's Tom Faust gets a seat at the SigFig table, which he hopes his firm can leverage
