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Re:Simple Bank Is Closing by tadfisher on Thursday January 07, 2021 @08:11PM (#25680083)
In our case, Simple was at the end of its runway and desperately needed a buyer after our primary angel backed out. BBVA was there at literally the last second (as in, we may not have been able to make the next payroll). So yeah, it wasn't really about the founders wanting to cash out; they desperately wanted to keep the idea going.
Re:Simple Bank Is Closing by heliodor on Friday January 08, 2021 @06:58AM (#25683750)
Have the founders tried to find a buyer for Simple to pull it out of BBVA and save it from being shut down?
Re:Simple Bank Is Closing by tadfisher on Monday January 11, 2021 @02:45PM (#25735232)
That was floated as an option, but it would complicate/delay BBVA's merger with PNC. Their entire whitelabel tech stack (Open Platform) is being shut down.
Re:Simple Bank Is Closing by Karunamon on Thursday January 07, 2021 @09:20PM (#25680671)
Backed out.. as in, Bancorp dumped you? I had the completely wrong idea about that, then.
Re:Simple Bank Is Closing by tadfisher on Monday January 11, 2021 @02:44PM (#25735203)
Not Bancorp, a Silicon Valley VC.