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Top related persons:
Jason Wilk - 1 Dave - 1 Wilk - 1 I'm - 1 Devin Ryan - 1 Goldman Sachs - 1
Top related locs:
Los Angeles
Top related orgs:
Los - 1 CNBC - 1 Wall - 1 JMP Securities - 1 Investors - 1 Federal Reserve - 1 KKR - 1 American Express - 1

Search resuls for: "Jason Wilk"


3 mentions found


☆ Banking app Dave, back from the brink, is this year's biggest gainer among financials with 934% surge
  + stars: | 2024-12-20 | by ( Hugh Son | ) www.cnbc.com   time to read: +2 min
Jason Wilk, the CEO of digital banking service Dave , remembers the absolute low point in his brief career as head of a publicly-traded firm. "To go from being a $5 billion company to $50 million in 12 months, it was so freaking hard." But in the months that followed, Dave turned profitable and consistently topped Wall Street analyst expectations for revenue and profit. Now, Wilk's company is the top gainer for 2024 among U.S. financial stocks, with a 934% year-to-date surge through Thursday. Investors had dumped high-flying fintech companies in 2022 as a wave of unprofitable firms like Dave went public via special purpose acquisition companies.
Persons: Jason Wilk, Dave, Wilk, I'm, Devin Ryan, Goldman Sachs Organizations: Los, CNBC, Wall, JMP Securities, Investors, Federal Reserve, KKR, American Express Locations: Los Angeles
☆ FTX diverted $200 million of customer money for two venture deals that caught the SEC's attention
  + stars: | 2022-12-28 | by ( Rohan Goswami Mackenzie Sigalos | Rohan Goswami | Mackenzie Sigalos | ) www.cnbc.com   time to read: +3 min
FTX Ventures was described as a $2 billion venture fund, in its press release with Dave. FTX Ventures was allegedly part of that scheme. But the investments appear to be the first identified examples of customer money being used by FTX and Bankman-Fried for venture funding. In explicitly linking the two $100 million investments to customer money, the SEC has raised the possibility that they'll be prospects for clawbacks. FTX's $100 million investment was through a convertible note, a short-term loan of cash that FTX could convert into shares at a later date.
☆ 'We’re alive and kicking': CEO of banking app Dave wants to dispel doubts after this year's 97% stock plunge
  + stars: | 2022-11-21 | by ( Hugh Son | ) www.cnbc.com   time to read: +1 min
Mobile banking app provider Dave has enough cash to survive the current downturn for fintech firms and reach profitability a year from now, according to CEO Jason Wilk. But Dave is not capsizing, despite a staggering 97% decline in its shares, Wilk said. "We're trying to dispel the myth of, 'Hey, this company does not have enough money to make it through,'" Wilk said. "If you told me that only a few months later, we'd be worth $100 million, I wouldn't have believed you," Wilk said. "It's tough to see your stock price represent such a low amount and its distance from what it would be as a private company."
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