Mark Cuban-backed banking app Dave going public via $4 billion SPAC

  • 📰 CNBC
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 72%

United States Headlines News

United States Latest News,United States Headlines

Banking app Dave will make its market debut through a SPAC deal that values the company at $4 billion.

list, was most recently valued at $1 billion in August 2019, according to PitchBook data.

Dave — shorthand for the hero in the David vs. Goliath tale — is designed to eliminate many of the features customers can't stand about. The company started with overdraft fees. For a $1-per-month membership fee, users can access checking accounts with no fees and up to $100 in overdraft protection without fees or interest.

The deal includes a $210 million private placement led by Tiger Global Management. So-called PIPE financing is a mechanism for companies to raise capital from a select group of investors that make the final market debut possible. Wellington Management and Corbin Capital Partners are also participating.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

SaveSheikhJarrah

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How a CEO turned $6,000 into a multimillion-dollar toothpaste business that got an investment offer from Mark CubanBite CEO Lindsay McCormick shares the money-saving hacks she utilized to turn her $6,000 investment into a toothpaste empire worth millions.
Source: CNBC - 🏆 12. / 72 Read more »

'In desperate need of these programs': California to close inmate firefighting training centerCalifornia is preparing to shut down one of its main training facilities for inmate firefighters as part of Gov. Newsom’s plan to reduce the state’s prison population.
Source: NBCNews - 🏆 10. / 86 Read more »

Lisa Faulkner's Marks & Spencer spotty blouse is back in stock - and you will want itBack in May, Lisa Faulkner wowed fans in Marks & Spencer's polka dot shirt and it's finally back in stock! Shop the TV star's blouse for £27.50.
Source: hellomag - 🏆 24. / 68 Read more »

Higher interest rates would be good for the country, Treasury Secretary Yellen saysThe president's $4 trillion spending proposal would be positive for the U.S., even if it hikes up interest rates, Treasury Secretary Janet Yellen said. raise rates and the system collapses so go ahead! Yes, no as the government borrows trillions. Taxes would cost more money from us to pay interests Sure, take more money from the poor is always good for the country
Source: CNBC - 🏆 12. / 72 Read more »

WH Group gives back the baconSino-U.S. pork producer WH Group (0288.HK) has launched in Asia where cash hoards abound. Perhaps it is American influence: the company was formed by the takeover of Smithfield Foods by China’s Shuanghui in 2013, and the enlarged entity subsequently listed in Hong Kong. JennHughes13 FBI DOJPH congressdotgov WhiteHouse SenateGOP SenateDems federalreserve IRSnews NSAGov CIA FTC DHSgov Please look into the illegal naked shorts at AMCTheatres amc JennHughes13 Are the pigs happy?
Source: Breakingviews - 🏆 470. / 51 Read more »

Wall Streeters outpace Europeans back to officeAmerican banks could steal another march on their European rivals. JPMorgan (JPM.N) Chief Executive Jamie Dimon and Goldman Sachs’ (GS.N) David Solomon want staff back at their New York and City of London desks at least some of the time this summer. Barclays (BARC.L), Deutsche Bank (DBKGn.DE) and HSBC (HSBA.L), (0005.HK) are being laxer. Sidewalk-pounding bankers working at Wall Street firms might win more facetime with clients, and an even greater share of deals.
Source: Breakingviews - 🏆 470. / 51 Read more »