Where will theyвЂ™re going? The answer will be that they’re planning to fall target up to a number that is tiny of businesses that are run with a directly 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 June 2, 2010. Keep in mind that nearly seventy percent of Green DotвЂ™s stocks take place by this fast quantity of investors.
Wal-Mart has 100 per cent of Class the shares. The Class B shares happen with team this is certainly little of. Note: these will be the holdings during the time of March 2010, prior to the name name} new stocks released following current Green Dot IPO.
The ownership framework at Green Dot is exclusive given that therefore many of the shares just take place by a couple of people. nearly 44 per cent occur by three investment capital businesses. The CEO has 13 percent for this stocks.
Michael J. Moritz has ties to payday funding. Mr. Moritz, to be somebody in Sequoia Capital, directs many assets to companies providing pay check loans (PayDayOne, ThinkCash, Elastic, and Month End Money.)
Also, you can find a collection that is good of between this board in addition to the leadership of the handful of their competitors to the card room that is prepaid. Connections could effortlessly be drawn between W. Thomas Smith, as an example, along with the bank which has given Green cards which are dot-branded. Smith is actually 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. In line with the Atlanta business Journal (might 2004), the latter is owned by Gardiner W. Garrard III (1/3rd of shares) and Garrard and Jordan Investments LLC (another third). TTP Fund operates on fund mostly supplied from Synovus Bank. Gardiner W. Garrard IIweвЂ™s daddy, Gardiner W. Garrard, Jr., will be the owners of the Jordan company (and through that company, Garrard and Jordan Investments LLC) and a board individual in Synovus Bank.
Seeing the real nameвЂќSynovus BankвЂќ can be found in the midst of the Green Dot board makes me actually simply take serious notice. Columbus Bank & Trust (CB&T), a bank that is tiny by Synovus, is actually the issuer for many of Green DotвЂ™s cards. CB&T features a relationship that is long CompuCredit. CB&T is the issuer for all of CompuCreditвЂ™s very very cards that are own. Those would be the Aspire Visa, the Majestic Visa, plus. If the FTC indicted CompuCredit for violations when it comes to Fair Debt Collections Act, it included Columbus Bank & are based upon that action.
The Aspire Card was indeed an example of just what became known as вЂњfee-harvesterвЂќ cards.
CompuCreditвЂ™s Aspire Card should provide anyone a notion that is good of exactly just how CompuCredit вЂњhelpsвЂќ individuals access credit. The Aspire Card was indeed a debit this is certainly prepaid with a $300 limitation. Definitely, $300 was in fact the amount that the buyer packed concerning the card. However, the card ended up being added to massive amount costs. Lots of, in fact, that the ultimate investing power of a $300 Aspire Card wound up being merely $115. Columbus Bank & Trust, First Bank of Delaware, and CompuCredit each discovered split settlements with all the FDIC in 2008. These cards have been among the list of conditions that provoked the suit that is initial.