Investing app Acorns to go public through a blank-check merger valued at $2.2 billion

cnbc2021-05-27

Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...

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crisis
·2021-05-27
That's great
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1
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- Eellen:
  Like and commet
  2021-05-27
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bhahab
·2021-05-27
Like and comment
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7
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- Tedam:
  Reply back pls
  2021-05-27
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lebronyuan
·2021-05-27
great!
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1
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RocketToMars
·2021-05-27
Ok
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2
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- Rocket2Mars:
  Yup
  2021-05-27
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andrewshum
·2021-05-27
Like and comment
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3
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- RocketToMars:
  Ok
  2021-05-27
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- Rocket2Mars:
  Yup ok!
  2021-05-27
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mr_tig3r
·2021-05-27
?
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2
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SK118
·2021-05-27
Like and comment
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- RocketToMars:
  Ok
  2021-05-27
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- rocketman881:
  ok
  2021-05-27
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- rocketman881:
  ok comments back pls
  2021-05-27
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Soarhigh
·2021-05-27
Like n comment pls
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4
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- SK118:
  OK. done
  2021-05-27
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Kerner and Pioneer’s sponsor each plan to contribute 10% of their personal ownership in Acorns as a gift to eligible Acorns customers.The company, last valued at less than $1 billion, has attracted venture investments from the likes of PayPal Ventures, BlackRock, Ashton Kutcher, Jennifer Lopez and Dwayne Johnson, according to PitchBook. Comcast owns CNBC’s parent company, NBCUniversal, and is an investor in Acorns, and CNBC has a content partnership with Acorns.Irvine, California-based Acorns had been in the process of closing another private funding round, Kerner said, but decided to go the recently popular SPAC route. He pointed to John Christodoro, a PayPal board member and chairman of Pioneer Merger, as the right partner and one reason Acorns bypassed a traditional IPO.“Acorns is not only a category leader but also a category creator. 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Part of that was thanks to a frenzy around GameStop and other “meme stocks.” The trading mania has brought new attention to the markets, and driven millions of first-time investors to platforms such as Schwab, Robinhood and Interactive Brokers.But it’s benefitting passive investment apps, too. Wealthfront and Betterment bothnotchedtheir best quarters in history to start year. Kerner said the first quarter was also Acorns’ best three months on record with subscribers doubling from the fourth quarter to 4 million. The start-up’s revenue is made up of roughly 80% subscription fees and 20% transaction fees and brand partnerships.When asked about growing competition, Kerner said “we run our own race.”“We’re focused on long-term financial wellness and helping customers get and stay committed to their long-term financial best interests,” he said. “Our vision is to build a financial wellness system that enables everyday Americans to save and invest.“","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":135092657,"gmtCreate":1622121085279,"gmtModify":1704179821130,"author":{"id":"3571829669649843","authorId":"3571829669649843","name":"crisis","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3571829669649843","authorIdStr":"3571829669649843"},"htmlText":"That's great&nbsp;","listText":"That's great&nbsp;","text":"That's great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/135092657","repostId":1138135570,"repostType":4,"repost":{"id":"1138135570","pubTimestamp":1622118705,"share":"https://ttm.financial/m/news/1138135570?lang=&edition=fundamental","pubTime":"2021-05-27 20:31","market":"us","language":"en","title":"Investing app Acorns to go public through a blank-check merger valued at $2.2 billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1138135570","media":"cnbc","summary":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintec","content":"<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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The merger values Acorns at roughly $2.2 billion and is expected to close in the back half of this year.When it is finalized, Acorns will trade on the Nasdaq under the symbols OAKS — a nod to the company’s motto and analogy of growing acorns into “mighty oaks.”“Now was the time to go public to accelerate our growth and get the tools of responsible wealth-making in everyone’s hands as fast as possible, when they need it most,” said Acorns CEO Noah Kerner. “We just saw this as an accelerant on that journey.”Institutional investors Wellington Management, Greycroft, TPG’s global impact investing platform, and funds managed by BlackRock also committed to a private placement as part of the announcement. Kerner and Pioneer’s sponsor each plan to contribute 10% of their personal ownership in Acorns as a gift to eligible Acorns customers.The company, last valued at less than $1 billion, has attracted venture investments from the likes of PayPal Ventures, BlackRock, Ashton Kutcher, Jennifer Lopez and Dwayne Johnson, according to PitchBook. Comcast owns CNBC’s parent company, NBCUniversal, and is an investor in Acorns, and CNBC has a content partnership with Acorns.Irvine, California-based Acorns had been in the process of closing another private funding round, Kerner said, but decided to go the recently popular SPAC route. He pointed to John Christodoro, a PayPal board member and chairman of Pioneer Merger, as the right partner and one reason Acorns bypassed a traditional IPO.“Acorns is not only a category leader but also a category creator. Its value proposition is built around inclusive, long-term financial wellness,” Christodoro said in a statement. “With integrity at its core, the brand has an incredibly loyal following and market leading retention rates.”Acorns’ most popular offerings let customers automatically invest the spare change from debit or credit card purchases into index funds. Since launching in 2014, it has expanded into educational offerings, banking products, a debit card and an automated retirement account service.SPACs raise money through a shell company to buy an existing company. This has become a popular way for later-stage, venture-backed start-ups to list on public markets quickly this year. New issuances of SPACS dropped off in April though, with just 10 new ones coming to market versus 109 a month earlier,accordingto SPAC Research.Trading tailwindsThe Acorns listing comes on the heels of record growth for investing apps during the pandemic. Part of that was thanks to a frenzy around GameStop and other “meme stocks.” The trading mania has brought new attention to the markets, and driven millions of first-time investors to platforms such as Schwab, Robinhood and Interactive Brokers.But it’s benefitting passive investment apps, too. Wealthfront and Betterment bothnotchedtheir best quarters in history to start year. Kerner said the first quarter was also Acorns’ best three months on record with subscribers doubling from the fourth quarter to 4 million. The start-up’s revenue is made up of roughly 80% subscription fees and 20% transaction fees and brand partnerships.When asked about growing competition, Kerner said “we run our own race.”“We’re focused on long-term financial wellness and helping customers get and stay committed to their long-term financial best interests,” he said. “Our vision is to build a financial wellness system that enables everyday Americans to save and invest.“","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4471865,"gmtCreate":1622123345717,"gmtModify":1680791360413,"authorId":3574771607647825,"author":{"id":3574771607647825,"idStr":"3574771607647825","authorId":3574771607647825,"name":"Eellen","avatar":"https://static.tigerbbs.com/0cbc0a268b9b34bfdb5dbf82ce98d474","vip":1,"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":135092657,"type":1,"supId":0,"prevId":0,"content":"Like and commet ","text":"Like and commet ","html":"Like and commet "}],"langContent":"EN"},{"id":135005945,"gmtCreate":1622120387487,"gmtModify":1704179808487,"author":{"id":"3581814406562580","authorId":"3581814406562580","name":"bhahab","avatar":"https://static.tigerbbs.com/da94be6bbb6d4ccc736167ee40fdfe71","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3581814406562580","authorIdStr":"3581814406562580"},"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/135005945","repostId":1138135570,"repostType":4,"repost":{"id":"1138135570","pubTimestamp":1622118705,"share":"https://ttm.financial/m/news/1138135570?lang=&edition=fundamental","pubTime":"2021-05-27 20:31","market":"us","language":"en","title":"Investing app Acorns to go public through a blank-check merger valued at $2.2 billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1138135570","media":"cnbc","summary":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintec","content":"<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investing app Acorns to go public through a blank-check merger valued at $2.2 billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInvesting app Acorns to go public through a blank-check merger valued at $2.2 billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 20:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OAKS":"Five Oaks Investment Corp."},"source_url":"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1138135570","content_text":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special purpose acquisition company. The merger values Acorns at roughly $2.2 billion and is expected to close in the back half of this year.When it is finalized, Acorns will trade on the Nasdaq under the symbols OAKS — a nod to the company’s motto and analogy of growing acorns into “mighty oaks.”“Now was the time to go public to accelerate our growth and get the tools of responsible wealth-making in everyone’s hands as fast as possible, when they need it most,” said Acorns CEO Noah Kerner. “We just saw this as an accelerant on that journey.”Institutional investors Wellington Management, Greycroft, TPG’s global impact investing platform, and funds managed by BlackRock also committed to a private placement as part of the announcement. Kerner and Pioneer’s sponsor each plan to contribute 10% of their personal ownership in Acorns as a gift to eligible Acorns customers.The company, last valued at less than $1 billion, has attracted venture investments from the likes of PayPal Ventures, BlackRock, Ashton Kutcher, Jennifer Lopez and Dwayne Johnson, according to PitchBook. Comcast owns CNBC’s parent company, NBCUniversal, and is an investor in Acorns, and CNBC has a content partnership with Acorns.Irvine, California-based Acorns had been in the process of closing another private funding round, Kerner said, but decided to go the recently popular SPAC route. He pointed to John Christodoro, a PayPal board member and chairman of Pioneer Merger, as the right partner and one reason Acorns bypassed a traditional IPO.“Acorns is not only a category leader but also a category creator. Its value proposition is built around inclusive, long-term financial wellness,” Christodoro said in a statement. “With integrity at its core, the brand has an incredibly loyal following and market leading retention rates.”Acorns’ most popular offerings let customers automatically invest the spare change from debit or credit card purchases into index funds. Since launching in 2014, it has expanded into educational offerings, banking products, a debit card and an automated retirement account service.SPACs raise money through a shell company to buy an existing company. This has become a popular way for later-stage, venture-backed start-ups to list on public markets quickly this year. New issuances of SPACS dropped off in April though, with just 10 new ones coming to market versus 109 a month earlier,accordingto SPAC Research.Trading tailwindsThe Acorns listing comes on the heels of record growth for investing apps during the pandemic. Part of that was thanks to a frenzy around GameStop and other “meme stocks.” The trading mania has brought new attention to the markets, and driven millions of first-time investors to platforms such as Schwab, Robinhood and Interactive Brokers.But it’s benefitting passive investment apps, too. Wealthfront and Betterment bothnotchedtheir best quarters in history to start year. Kerner said the first quarter was also Acorns’ best three months on record with subscribers doubling from the fourth quarter to 4 million. The start-up’s revenue is made up of roughly 80% subscription fees and 20% transaction fees and brand partnerships.When asked about growing competition, Kerner said “we run our own race.”“We’re focused on long-term financial wellness and helping customers get and stay committed to their long-term financial best interests,” he said. “Our vision is to build a financial wellness system that enables everyday Americans to save and invest.“","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4471748,"gmtCreate":1622122949800,"gmtModify":1680791353271,"authorId":3574663138666653,"author":{"id":3574663138666653,"idStr":"3574663138666653","authorId":3574663138666653,"name":"Tedam","avatar":"https://static.tigerbbs.com/b03558df0abaa80f9e6b141bb1e3d38e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":135005945,"type":1,"supId":0,"prevId":0,"content":"Reply back <u>pls</u>","text":"Reply back <u>pls</u>","html":"Reply back <u>pls</u>"}],"langContent":"EN"},{"id":132772768,"gmtCreate":1622119480954,"gmtModify":1704179796062,"author":{"id":"3568990831362516","authorId":"3568990831362516","name":"lebronyuan","avatar":"https://static.tigerbbs.com/3197d176da26c5ba497e41acab3653fd","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3568990831362516","authorIdStr":"3568990831362516"},"htmlText":"great!","listText":"great!","text":"great!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/132772768","repostId":1138135570,"repostType":4,"repost":{"id":"1138135570","pubTimestamp":1622118705,"share":"https://ttm.financial/m/news/1138135570?lang=&edition=fundamental","pubTime":"2021-05-27 20:31","market":"us","language":"en","title":"Investing app Acorns to go public through a blank-check merger valued at $2.2 billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1138135570","media":"cnbc","summary":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintec","content":"<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investing app Acorns to go public through a blank-check merger valued at $2.2 billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInvesting app Acorns to go public through a blank-check merger valued at $2.2 billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 20:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OAKS":"Five Oaks Investment Corp."},"source_url":"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1138135570","content_text":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special purpose acquisition company. The merger values Acorns at roughly $2.2 billion and is expected to close in the back half of this year.When it is finalized, Acorns will trade on the Nasdaq under the symbols OAKS — a nod to the company’s motto and analogy of growing acorns into “mighty oaks.”“Now was the time to go public to accelerate our growth and get the tools of responsible wealth-making in everyone’s hands as fast as possible, when they need it most,” said Acorns CEO Noah Kerner. “We just saw this as an accelerant on that journey.”Institutional investors Wellington Management, Greycroft, TPG’s global impact investing platform, and funds managed by BlackRock also committed to a private placement as part of the announcement. Kerner and Pioneer’s sponsor each plan to contribute 10% of their personal ownership in Acorns as a gift to eligible Acorns customers.The company, last valued at less than $1 billion, has attracted venture investments from the likes of PayPal Ventures, BlackRock, Ashton Kutcher, Jennifer Lopez and Dwayne Johnson, according to PitchBook. Comcast owns CNBC’s parent company, NBCUniversal, and is an investor in Acorns, and CNBC has a content partnership with Acorns.Irvine, California-based Acorns had been in the process of closing another private funding round, Kerner said, but decided to go the recently popular SPAC route. He pointed to John Christodoro, a PayPal board member and chairman of Pioneer Merger, as the right partner and one reason Acorns bypassed a traditional IPO.“Acorns is not only a category leader but also a category creator. Its value proposition is built around inclusive, long-term financial wellness,” Christodoro said in a statement. “With integrity at its core, the brand has an incredibly loyal following and market leading retention rates.”Acorns’ most popular offerings let customers automatically invest the spare change from debit or credit card purchases into index funds. Since launching in 2014, it has expanded into educational offerings, banking products, a debit card and an automated retirement account service.SPACs raise money through a shell company to buy an existing company. This has become a popular way for later-stage, venture-backed start-ups to list on public markets quickly this year. New issuances of SPACS dropped off in April though, with just 10 new ones coming to market versus 109 a month earlier,accordingto SPAC Research.Trading tailwindsThe Acorns listing comes on the heels of record growth for investing apps during the pandemic. Part of that was thanks to a frenzy around GameStop and other “meme stocks.” The trading mania has brought new attention to the markets, and driven millions of first-time investors to platforms such as Schwab, Robinhood and Interactive Brokers.But it’s benefitting passive investment apps, too. Wealthfront and Betterment bothnotchedtheir best quarters in history to start year. Kerner said the first quarter was also Acorns’ best three months on record with subscribers doubling from the fourth quarter to 4 million. The start-up’s revenue is made up of roughly 80% subscription fees and 20% transaction fees and brand partnerships.When asked about growing competition, Kerner said “we run our own race.”“We’re focused on long-term financial wellness and helping customers get and stay committed to their long-term financial best interests,” he said. “Our vision is to build a financial wellness system that enables everyday Americans to save and invest.“","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":132770043,"gmtCreate":1622119058882,"gmtModify":1704179785470,"author":{"id":"3549455086460474","authorId":"3549455086460474","name":"RocketToMars","avatar":"https://static.tigerbbs.com/e454fc8aa9e282f1caae6fe919b0b36e","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"3549455086460474","authorIdStr":"3549455086460474"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/132770043","repostId":1138135570,"repostType":4,"repost":{"id":"1138135570","pubTimestamp":1622118705,"share":"https://ttm.financial/m/news/1138135570?lang=&edition=fundamental","pubTime":"2021-05-27 20:31","market":"us","language":"en","title":"Investing app Acorns to go public through a blank-check merger valued at $2.2 billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1138135570","media":"cnbc","summary":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintec","content":"<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investing app Acorns to go public through a blank-check merger valued at $2.2 billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInvesting app Acorns to go public through a blank-check merger valued at $2.2 billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 20:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OAKS":"Five Oaks Investment Corp."},"source_url":"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1138135570","content_text":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special purpose acquisition company. The merger values Acorns at roughly $2.2 billion and is expected to close in the back half of this year.When it is finalized, Acorns will trade on the Nasdaq under the symbols OAKS — a nod to the company’s motto and analogy of growing acorns into “mighty oaks.”“Now was the time to go public to accelerate our growth and get the tools of responsible wealth-making in everyone’s hands as fast as possible, when they need it most,” said Acorns CEO Noah Kerner. “We just saw this as an accelerant on that journey.”Institutional investors Wellington Management, Greycroft, TPG’s global impact investing platform, and funds managed by BlackRock also committed to a private placement as part of the announcement. Kerner and Pioneer’s sponsor each plan to contribute 10% of their personal ownership in Acorns as a gift to eligible Acorns customers.The company, last valued at less than $1 billion, has attracted venture investments from the likes of PayPal Ventures, BlackRock, Ashton Kutcher, Jennifer Lopez and Dwayne Johnson, according to PitchBook. Comcast owns CNBC’s parent company, NBCUniversal, and is an investor in Acorns, and CNBC has a content partnership with Acorns.Irvine, California-based Acorns had been in the process of closing another private funding round, Kerner said, but decided to go the recently popular SPAC route. He pointed to John Christodoro, a PayPal board member and chairman of Pioneer Merger, as the right partner and one reason Acorns bypassed a traditional IPO.“Acorns is not only a category leader but also a category creator. Its value proposition is built around inclusive, long-term financial wellness,” Christodoro said in a statement. “With integrity at its core, the brand has an incredibly loyal following and market leading retention rates.”Acorns’ most popular offerings let customers automatically invest the spare change from debit or credit card purchases into index funds. Since launching in 2014, it has expanded into educational offerings, banking products, a debit card and an automated retirement account service.SPACs raise money through a shell company to buy an existing company. This has become a popular way for later-stage, venture-backed start-ups to list on public markets quickly this year. New issuances of SPACS dropped off in April though, with just 10 new ones coming to market versus 109 a month earlier,accordingto SPAC Research.Trading tailwindsThe Acorns listing comes on the heels of record growth for investing apps during the pandemic. Part of that was thanks to a frenzy around GameStop and other “meme stocks.” The trading mania has brought new attention to the markets, and driven millions of first-time investors to platforms such as Schwab, Robinhood and Interactive Brokers.But it’s benefitting passive investment apps, too. Wealthfront and Betterment bothnotchedtheir best quarters in history to start year. Kerner said the first quarter was also Acorns’ best three months on record with subscribers doubling from the fourth quarter to 4 million. The start-up’s revenue is made up of roughly 80% subscription fees and 20% transaction fees and brand partnerships.When asked about growing competition, Kerner said “we run our own race.”“We’re focused on long-term financial wellness and helping customers get and stay committed to their long-term financial best interests,” he said. “Our vision is to build a financial wellness system that enables everyday Americans to save and invest.“","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4471084,"gmtCreate":1622119242131,"gmtModify":1680791349303,"authorId":3578399462882565,"author":{"id":3578399462882565,"idStr":"3578399462882565","authorId":3578399462882565,"name":"Rocket2Mars","avatar":"https://static.tigerbbs.com/a98299f891ae0ae35c465cedc8c17d36","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":132770043,"type":1,"supId":0,"prevId":0,"content":"Yup","text":"Yup","html":"Yup"}],"langContent":"EN"},{"id":132744186,"gmtCreate":1622118921145,"gmtModify":1704179782865,"author":{"id":"3582600581738317","authorId":"3582600581738317","name":"andrewshum","avatar":"https://static.tigerbbs.com/3a4a9224853eb7bf5293363b761f6ba1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582600581738317","authorIdStr":"3582600581738317"},"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/132744186","repostId":1138135570,"repostType":4,"repost":{"id":"1138135570","pubTimestamp":1622118705,"share":"https://ttm.financial/m/news/1138135570?lang=&edition=fundamental","pubTime":"2021-05-27 20:31","market":"us","language":"en","title":"Investing app Acorns to go public through a blank-check merger valued at $2.2 billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1138135570","media":"cnbc","summary":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintec","content":"<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investing app Acorns to go public through a blank-check merger valued at $2.2 billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInvesting app Acorns to go public through a blank-check merger valued at $2.2 billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 20:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OAKS":"Five Oaks Investment Corp."},"source_url":"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1138135570","content_text":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special purpose acquisition company. The merger values Acorns at roughly $2.2 billion and is expected to close in the back half of this year.When it is finalized, Acorns will trade on the Nasdaq under the symbols OAKS — a nod to the company’s motto and analogy of growing acorns into “mighty oaks.”“Now was the time to go public to accelerate our growth and get the tools of responsible wealth-making in everyone’s hands as fast as possible, when they need it most,” said Acorns CEO Noah Kerner. “We just saw this as an accelerant on that journey.”Institutional investors Wellington Management, Greycroft, TPG’s global impact investing platform, and funds managed by BlackRock also committed to a private placement as part of the announcement. Kerner and Pioneer’s sponsor each plan to contribute 10% of their personal ownership in Acorns as a gift to eligible Acorns customers.The company, last valued at less than $1 billion, has attracted venture investments from the likes of PayPal Ventures, BlackRock, Ashton Kutcher, Jennifer Lopez and Dwayne Johnson, according to PitchBook. Comcast owns CNBC’s parent company, NBCUniversal, and is an investor in Acorns, and CNBC has a content partnership with Acorns.Irvine, California-based Acorns had been in the process of closing another private funding round, Kerner said, but decided to go the recently popular SPAC route. He pointed to John Christodoro, a PayPal board member and chairman of Pioneer Merger, as the right partner and one reason Acorns bypassed a traditional IPO.“Acorns is not only a category leader but also a category creator. Its value proposition is built around inclusive, long-term financial wellness,” Christodoro said in a statement. “With integrity at its core, the brand has an incredibly loyal following and market leading retention rates.”Acorns’ most popular offerings let customers automatically invest the spare change from debit or credit card purchases into index funds. Since launching in 2014, it has expanded into educational offerings, banking products, a debit card and an automated retirement account service.SPACs raise money through a shell company to buy an existing company. This has become a popular way for later-stage, venture-backed start-ups to list on public markets quickly this year. New issuances of SPACS dropped off in April though, with just 10 new ones coming to market versus 109 a month earlier,accordingto SPAC Research.Trading tailwindsThe Acorns listing comes on the heels of record growth for investing apps during the pandemic. Part of that was thanks to a frenzy around GameStop and other “meme stocks.” The trading mania has brought new attention to the markets, and driven millions of first-time investors to platforms such as Schwab, Robinhood and Interactive Brokers.But it’s benefitting passive investment apps, too. Wealthfront and Betterment bothnotchedtheir best quarters in history to start year. Kerner said the first quarter was also Acorns’ best three months on record with subscribers doubling from the fourth quarter to 4 million. The start-up’s revenue is made up of roughly 80% subscription fees and 20% transaction fees and brand partnerships.When asked about growing competition, Kerner said “we run our own race.”“We’re focused on long-term financial wellness and helping customers get and stay committed to their long-term financial best interests,” he said. “Our vision is to build a financial wellness system that enables everyday Americans to save and invest.“","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4471063,"gmtCreate":1622119072328,"gmtModify":1680791351067,"authorId":3549455086460474,"author":{"id":3549455086460474,"idStr":"3549455086460474","authorId":3549455086460474,"name":"RocketToMars","avatar":"https://static.tigerbbs.com/e454fc8aa9e282f1caae6fe919b0b36e","vip":1,"crmLevel":8,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":132744186,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":4471088,"gmtCreate":1622119251570,"gmtModify":1680791347058,"authorId":3578399462882565,"author":{"id":3578399462882565,"idStr":"3578399462882565","authorId":3578399462882565,"name":"Rocket2Mars","avatar":"https://static.tigerbbs.com/a98299f891ae0ae35c465cedc8c17d36","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":132744186,"type":1,"supId":4471063,"prevId":0,"content":"Yup ok! ","text":"Yup ok! ","html":"Yup ok! "}],"langContent":"EN"},{"id":132745655,"gmtCreate":1622118895177,"gmtModify":1704179781888,"author":{"id":"3579092031958753","authorId":"3579092031958753","name":"mr_tig3r","avatar":"https://static.tigerbbs.com/333e3ca9288379f6071ce74d34fdb629","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579092031958753","authorIdStr":"3579092031958753"},"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/132745655","repostId":1138135570,"repostType":4,"repost":{"id":"1138135570","pubTimestamp":1622118705,"share":"https://ttm.financial/m/news/1138135570?lang=&edition=fundamental","pubTime":"2021-05-27 20:31","market":"us","language":"en","title":"Investing app Acorns to go public through a blank-check merger valued at $2.2 billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1138135570","media":"cnbc","summary":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintec","content":"<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investing app Acorns to go public through a blank-check merger valued at $2.2 billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInvesting app Acorns to go public through a blank-check merger valued at $2.2 billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 20:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OAKS":"Five Oaks Investment Corp."},"source_url":"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1138135570","content_text":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special purpose acquisition company. The merger values Acorns at roughly $2.2 billion and is expected to close in the back half of this year.When it is finalized, Acorns will trade on the Nasdaq under the symbols OAKS — a nod to the company’s motto and analogy of growing acorns into “mighty oaks.”“Now was the time to go public to accelerate our growth and get the tools of responsible wealth-making in everyone’s hands as fast as possible, when they need it most,” said Acorns CEO Noah Kerner. “We just saw this as an accelerant on that journey.”Institutional investors Wellington Management, Greycroft, TPG’s global impact investing platform, and funds managed by BlackRock also committed to a private placement as part of the announcement. Kerner and Pioneer’s sponsor each plan to contribute 10% of their personal ownership in Acorns as a gift to eligible Acorns customers.The company, last valued at less than $1 billion, has attracted venture investments from the likes of PayPal Ventures, BlackRock, Ashton Kutcher, Jennifer Lopez and Dwayne Johnson, according to PitchBook. Comcast owns CNBC’s parent company, NBCUniversal, and is an investor in Acorns, and CNBC has a content partnership with Acorns.Irvine, California-based Acorns had been in the process of closing another private funding round, Kerner said, but decided to go the recently popular SPAC route. He pointed to John Christodoro, a PayPal board member and chairman of Pioneer Merger, as the right partner and one reason Acorns bypassed a traditional IPO.“Acorns is not only a category leader but also a category creator. Its value proposition is built around inclusive, long-term financial wellness,” Christodoro said in a statement. “With integrity at its core, the brand has an incredibly loyal following and market leading retention rates.”Acorns’ most popular offerings let customers automatically invest the spare change from debit or credit card purchases into index funds. Since launching in 2014, it has expanded into educational offerings, banking products, a debit card and an automated retirement account service.SPACs raise money through a shell company to buy an existing company. This has become a popular way for later-stage, venture-backed start-ups to list on public markets quickly this year. New issuances of SPACS dropped off in April though, with just 10 new ones coming to market versus 109 a month earlier,accordingto SPAC Research.Trading tailwindsThe Acorns listing comes on the heels of record growth for investing apps during the pandemic. Part of that was thanks to a frenzy around GameStop and other “meme stocks.” The trading mania has brought new attention to the markets, and driven millions of first-time investors to platforms such as Schwab, Robinhood and Interactive Brokers.But it’s benefitting passive investment apps, too. Wealthfront and Betterment bothnotchedtheir best quarters in history to start year. Kerner said the first quarter was also Acorns’ best three months on record with subscribers doubling from the fourth quarter to 4 million. The start-up’s revenue is made up of roughly 80% subscription fees and 20% transaction fees and brand partnerships.When asked about growing competition, Kerner said “we run our own race.”“We’re focused on long-term financial wellness and helping customers get and stay committed to their long-term financial best interests,” he said. “Our vision is to build a financial wellness system that enables everyday Americans to save and invest.“","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":132746670,"gmtCreate":1622118795790,"gmtModify":1704179778964,"author":{"id":"3577519492325313","authorId":"3577519492325313","name":"SK118","avatar":"https://static.tigerbbs.com/9a303d951cd8f8b608ce003cd75d133a","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3577519492325313","authorIdStr":"3577519492325313"},"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/132746670","repostId":1138135570,"repostType":4,"repost":{"id":"1138135570","pubTimestamp":1622118705,"share":"https://ttm.financial/m/news/1138135570?lang=&edition=fundamental","pubTime":"2021-05-27 20:31","market":"us","language":"en","title":"Investing app Acorns to go public through a blank-check merger valued at $2.2 billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1138135570","media":"cnbc","summary":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintec","content":"<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investing app Acorns to go public through a blank-check merger valued at $2.2 billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInvesting app Acorns to go public through a blank-check merger valued at $2.2 billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 20:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OAKS":"Five Oaks Investment Corp."},"source_url":"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1138135570","content_text":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special purpose acquisition company. The merger values Acorns at roughly $2.2 billion and is expected to close in the back half of this year.When it is finalized, Acorns will trade on the Nasdaq under the symbols OAKS — a nod to the company’s motto and analogy of growing acorns into “mighty oaks.”“Now was the time to go public to accelerate our growth and get the tools of responsible wealth-making in everyone’s hands as fast as possible, when they need it most,” said Acorns CEO Noah Kerner. “We just saw this as an accelerant on that journey.”Institutional investors Wellington Management, Greycroft, TPG’s global impact investing platform, and funds managed by BlackRock also committed to a private placement as part of the announcement. Kerner and Pioneer’s sponsor each plan to contribute 10% of their personal ownership in Acorns as a gift to eligible Acorns customers.The company, last valued at less than $1 billion, has attracted venture investments from the likes of PayPal Ventures, BlackRock, Ashton Kutcher, Jennifer Lopez and Dwayne Johnson, according to PitchBook. Comcast owns CNBC’s parent company, NBCUniversal, and is an investor in Acorns, and CNBC has a content partnership with Acorns.Irvine, California-based Acorns had been in the process of closing another private funding round, Kerner said, but decided to go the recently popular SPAC route. He pointed to John Christodoro, a PayPal board member and chairman of Pioneer Merger, as the right partner and one reason Acorns bypassed a traditional IPO.“Acorns is not only a category leader but also a category creator. Its value proposition is built around inclusive, long-term financial wellness,” Christodoro said in a statement. “With integrity at its core, the brand has an incredibly loyal following and market leading retention rates.”Acorns’ most popular offerings let customers automatically invest the spare change from debit or credit card purchases into index funds. Since launching in 2014, it has expanded into educational offerings, banking products, a debit card and an automated retirement account service.SPACs raise money through a shell company to buy an existing company. This has become a popular way for later-stage, venture-backed start-ups to list on public markets quickly this year. New issuances of SPACS dropped off in April though, with just 10 new ones coming to market versus 109 a month earlier,accordingto SPAC Research.Trading tailwindsThe Acorns listing comes on the heels of record growth for investing apps during the pandemic. Part of that was thanks to a frenzy around GameStop and other “meme stocks.” The trading mania has brought new attention to the markets, and driven millions of first-time investors to platforms such as Schwab, Robinhood and Interactive Brokers.But it’s benefitting passive investment apps, too. Wealthfront and Betterment bothnotchedtheir best quarters in history to start year. Kerner said the first quarter was also Acorns’ best three months on record with subscribers doubling from the fourth quarter to 4 million. The start-up’s revenue is made up of roughly 80% subscription fees and 20% transaction fees and brand partnerships.When asked about growing competition, Kerner said “we run our own race.”“We’re focused on long-term financial wellness and helping customers get and stay committed to their long-term financial best interests,” he said. “Our vision is to build a financial wellness system that enables everyday Americans to save and invest.“","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4471064,"gmtCreate":1622119083358,"gmtModify":1680791350566,"authorId":3549455086460474,"author":{"id":3549455086460474,"idStr":"3549455086460474","authorId":3549455086460474,"name":"RocketToMars","avatar":"https://static.tigerbbs.com/e454fc8aa9e282f1caae6fe919b0b36e","vip":1,"crmLevel":8,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":132746670,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":4471040,"gmtCreate":1622118901823,"gmtModify":1680791350357,"authorId":3562275887443221,"author":{"id":3562275887443221,"idStr":"3562275887443221","authorId":3562275887443221,"name":"rocketman881","avatar":"https://static.tigerbbs.com/700edaf59cf5ecd97e2112cd4071f6b3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":132746670,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"},{"id":4471036,"gmtCreate":1622118884575,"gmtModify":1680791349506,"authorId":3562275887443221,"author":{"id":3562275887443221,"idStr":"3562275887443221","authorId":3562275887443221,"name":"rocketman881","avatar":"https://static.tigerbbs.com/700edaf59cf5ecd97e2112cd4071f6b3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":132746670,"type":1,"supId":0,"prevId":0,"content":"ok comments back pls","text":"ok comments back pls","html":"ok comments back pls"}],"langContent":"EN"},{"id":132748223,"gmtCreate":1622118745862,"gmtModify":1704179777339,"author":{"id":"3578649173059357","authorId":"3578649173059357","name":"Soarhigh","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3578649173059357","authorIdStr":"3578649173059357"},"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/132748223","repostId":1138135570,"repostType":4,"repost":{"id":"1138135570","pubTimestamp":1622118705,"share":"https://ttm.financial/m/news/1138135570?lang=&edition=fundamental","pubTime":"2021-05-27 20:31","market":"us","language":"en","title":"Investing app Acorns to go public through a blank-check merger valued at $2.2 billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1138135570","media":"cnbc","summary":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintec","content":"<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investing app Acorns to go public through a blank-check merger valued at $2.2 billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInvesting app Acorns to go public through a blank-check merger valued at $2.2 billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 20:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OAKS":"Five Oaks Investment Corp."},"source_url":"https://www.cnbc.com/2021/05/27/acorns-to-go-public-through-a-blank-check-merger-valued-at-2point2b.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1138135570","content_text":"Savings and investing app Acorns plans to go public by merging with a blank-check company.The fintech start-up announced a deal Thursday to combine withPioneer Merger Corp., a publicly traded special purpose acquisition company. The merger values Acorns at roughly $2.2 billion and is expected to close in the back half of this year.When it is finalized, Acorns will trade on the Nasdaq under the symbols OAKS — a nod to the company’s motto and analogy of growing acorns into “mighty oaks.”“Now was the time to go public to accelerate our growth and get the tools of responsible wealth-making in everyone’s hands as fast as possible, when they need it most,” said Acorns CEO Noah Kerner. “We just saw this as an accelerant on that journey.”Institutional investors Wellington Management, Greycroft, TPG’s global impact investing platform, and funds managed by BlackRock also committed to a private placement as part of the announcement. Kerner and Pioneer’s sponsor each plan to contribute 10% of their personal ownership in Acorns as a gift to eligible Acorns customers.The company, last valued at less than $1 billion, has attracted venture investments from the likes of PayPal Ventures, BlackRock, Ashton Kutcher, Jennifer Lopez and Dwayne Johnson, according to PitchBook. Comcast owns CNBC’s parent company, NBCUniversal, and is an investor in Acorns, and CNBC has a content partnership with Acorns.Irvine, California-based Acorns had been in the process of closing another private funding round, Kerner said, but decided to go the recently popular SPAC route. He pointed to John Christodoro, a PayPal board member and chairman of Pioneer Merger, as the right partner and one reason Acorns bypassed a traditional IPO.“Acorns is not only a category leader but also a category creator. Its value proposition is built around inclusive, long-term financial wellness,” Christodoro said in a statement. “With integrity at its core, the brand has an incredibly loyal following and market leading retention rates.”Acorns’ most popular offerings let customers automatically invest the spare change from debit or credit card purchases into index funds. Since launching in 2014, it has expanded into educational offerings, banking products, a debit card and an automated retirement account service.SPACs raise money through a shell company to buy an existing company. This has become a popular way for later-stage, venture-backed start-ups to list on public markets quickly this year. New issuances of SPACS dropped off in April though, with just 10 new ones coming to market versus 109 a month earlier,accordingto SPAC Research.Trading tailwindsThe Acorns listing comes on the heels of record growth for investing apps during the pandemic. Part of that was thanks to a frenzy around GameStop and other “meme stocks.” The trading mania has brought new attention to the markets, and driven millions of first-time investors to platforms such as Schwab, Robinhood and Interactive Brokers.But it’s benefitting passive investment apps, too. Wealthfront and Betterment bothnotchedtheir best quarters in history to start year. Kerner said the first quarter was also Acorns’ best three months on record with subscribers doubling from the fourth quarter to 4 million. The start-up’s revenue is made up of roughly 80% subscription fees and 20% transaction fees and brand partnerships.When asked about growing competition, Kerner said “we run our own race.”“We’re focused on long-term financial wellness and helping customers get and stay committed to their long-term financial best interests,” he said. “Our vision is to build a financial wellness system that enables everyday Americans to save and invest.“","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4471021,"gmtCreate":1622118773898,"gmtModify":1680791346059,"authorId":3577519492325313,"author":{"id":3577519492325313,"idStr":"3577519492325313","authorId":3577519492325313,"name":"SK118","avatar":"https://static.tigerbbs.com/9a303d951cd8f8b608ce003cd75d133a","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":132748223,"type":1,"supId":0,"prevId":0,"content":"OK. <u>done</u>","text":"OK. <u>done</u>","html":"OK. <u>done</u>"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":37,"commentSize":8,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false}}