Where will they’re going? The clear answer will be they are planning to fall target to a number that is tiny of businesses that are run by way of a right smaller couple of capital raising funds and bankers.
Below is a list submitted by Green Dot to your SEC, describing holdings of Directors, Executive Officers, and investors that are useful.
Investors in Green Dot, filed into the SEC on 2, 2010 june. Keep in mind that almost 70 percent of Green Dot’s stocks occur by this quick quantity of investors.
Wal-Mart has 100 % of Class the shares. The Class B shares happen by team this is certainly little of. Note: these is the holdings during the time of March 2010, prior to the brand name} completely new shares released after present Green Dot IPO.
The ownership framework at Green Dot is exclusive given that therefore many of the shares happen simply by a few people. almost 44 per cent happen by three investment finance businesses. The CEO has 13 percent with this stocks.
Michael J. Moritz has ties to financing that is payday. Mr. Moritz, to be someone in Sequoia Capital, directs many assets to companies providing pay check loans (PayDayOne, ThinkCash, Elastic, and Month End Money.)
Also, you can find a good assortment of ties between this board in addition to the leadership of the number of their competitors to the card room that is prepaid. Connections can potentially be drawn between W. Thomas Smith, as an example, along with the bank that has provided Green cards being dot-branded. Smith is really a partner in TTP Fund, LLC. W. Thomas Smith (Green Dot Director) is in connection with board of MicroBilt, Green Dot,and E-Duction.
TTP Fund is managed by complete tech Partners. On the basis of the Atlanta business Journal (might 2004), the latter is owned by Gardiner W. Garrard III (1/3rd of stocks) and Garrard and Jordan Investments LLC (another third). TTP Fund operates on investment mostly supplied from Synovus Bank. Gardiner W. Garrard IIwe’s daddy, Gardiner W. Garrard, Jr view it now., will be the owners of the Jordan business (and throughout that ongoing business, Garrard and Jordan Investments LLC) and a board individual in Synovus Bank.
Seeing the real name”Synovus Bank” can be found in the Green Dot board makes me actually simply take serious notice. Columbus Bank & Trust (CB&T), a bank this is certainly tiny by Synovus, is actually the issuer for many of Green Dot’s cards. CB&T carries a relationship that is long CompuCredit. CB&T is the issuer for most of CompuCredit’s very very really cards that are own. Those would be the Aspire Visa, the Majestic Visa, plus. In the event that FTC indicted CompuCredit for violations for the Fair Debt Collections Act, it included Columbus Bank & are based upon that action.
The Aspire Card was indeed an example of simply precisely what became known as “fee-harvester” cards.
CompuCredit’s Aspire Card should provide anyone a notion that is good of just just just how CompuCredit “helps” individuals access credit. The Aspire Card was indeed a debit that is prepaid with a $300 limitation. Truly, $300 was indeed the number that the buyer loaded in regards to the card. Nevertheless, the card had been added to massive amount fees. Plenty of, in fact, that the ultimate investing power of the $300 Aspire Card finished up being just $115. Columbus Bank & Trust, First Bank of Delaware, and CompuCredit each discovered split settlements because of the FDIC in 2008. These cards was in fact one of the problems that provoked the suit that is initial.