Rockbridge-backed RapidAdvance recruits Tumulty as CEO

RapidAdvance, which is backed by Rockbridge Growth Equity, has named Will Tumulty as CEO. Tumulty was the president and CEO of Ready Financial Group Inc, which was acquired by Green Dot earlier this year. Based in Bethesda, Maryland, RapidAdvance provides capital for small business.

Green Dot to Buy Loopt for $43.4 Mln

Green Dot Corp. has agreed to buy Loopt. Green Dot is paying $43.4 million cash, which includes about $9.8 million to be set aside as a retention pool for key Loopt employees . The deal is expected to close by the end of first quarter. Loopt is maker of a mobile social mapping application. Loopt […]

Matt Kohler Named CMO of the FRS Company

Foster City, Calif.-based the FRS Company, which makes the Health Performance line of products, including ready-to-drink beverages, chews, powdered drink mixes, shots and concentrates, has hired Matt Kohler as its chief marketing officer. Kohler joins from Green Dot,  a financial services company where he served as vice president of marketing. Prior to Green Dot, Kohler worked […]

Secondary Market Trading Predicted To Reach $10B In Three Years

Secondary trading in private technology companies will generate $10 billion in volume within three years, Millennium Technology Value Partners predicts. The secondary fund offered its forecast along with a review of recent investments. Clearly it sees a burgeoning market for secondary shares. Among the firm’s top pronouncements: A trillion dollars in public company capitalization will […]

Exit Machine Sequoia Raises $1.35B — Without Mark Kvamme: UPDATED

Fresh off a year filled with sizable exits, Sequoia Capital has processed a new regulatory filing with the SEC, revealing it has raised more than $1.35 billion for its newest fund, Sequoia Capital 2010, which the firm began raising in 2009. The news was first reported by Fortune.

UPDATE: A source at Sequoia who asked not to be named played down the report about the fund, saying it was old news. The fund was raised “quite some time ago,” and the only reason it hit the press was because Sequoia was required to file a statement about the fund with the SEC, the source said. -Ed.

The Sequoia Indicator: VC-Backed IPOs Making a Comeback

Every time there’s a big, lucrative flood of IPO exits in venture space, someone gets bragging rights for being early to the party. More often than not, it’s Sequoia Capital. Lately, I’m wondering if the presence of Sequoia as a major shareholder in so many companies that have just gone public or filed to do […]

Green Dot Reports Higher Q2 Profits

(Reuters) – Prepaid debit card company Green Dot Corp (GDOT.N), which debuted trading on the New York Stock Exchange last month, reported a higher quarterly profit as the company increased the number of its active cards. On a post-earnings call, the top player in the prepaid debit card space said it expected adjusted total operating […]

Green Dot Rises in NYSE Debut

NEW YORK (Reuters) – Shares of prepaid debit card company Green Dot Corp (GDOT.N) and energy efficiency consulting company Ameresco Inc AMRC.N rose in their market debuts on Thursday, with Green Dot up sharply as investors bet that its relationships with top retailers would pay off. Shares of Green Dot closed at $43.99, 22.2 percent […]

Green Dot IPO Prices Above Range

(Reuters) – Green Dot Corp (GDOT.N), a prepaid debit-card company, said on Wednesday that shares of in its initial public offering were priced at $36 apiece. The price was above the expected range. It offered 4.56 million shares, more than expected, for proceeds of about $164.1 million. Green Dot had planned to sell 4.17 million […]

Green Dot Increases IPO Shares

Green Dot Corp., a Monrovia, Calif.-based seller of prepaid debit cards, has increased the number of shares being offered in its IPO from 3.85 million to 4.17 million. It still plans to price the shares at between $32 and $35 per share. Green Dot is expected to trade on the NYSE under ticker symbol GDOT, with J.P. Morgan and […]

Green Dot Gets Congressional Valentine

NEW YORK (Reuters) – Green Dot Corp (GDOT.N), a prepaid debit card company, could see strong demand for its initial public offering next week because of the financial reform bill, which exempted prepaid cards from its harshest restrictions. Green Dot is the top player in the prepaid debit card industry, and hopes to raise about […]

Green Dot Sets IPO Terms

Green Dot Corp., a Monrovia, Calif.-based seller of prepaid debit cards, set its IPO terms to 3.85 million common shares being offered at between $32 and $35 per share. It plans to trade on the NYSE under ticker symbol GDOT, with J.P. Morgan and Morgan Stanley serving as co-lead underwriters. Green Dot posted total operating […]

peHUB Second Opinion 6.16

BP Suspends Dividend: After causing the oil disaster in the Gulf, BP decides not to pay its investors loads of cash.

Oprah Keeps Giving: The talk show host gave Apple iPads and $10,000 checks to every staffer at O, The Oprah Magazine. Her highness handed the stuff out personally.

Hooking up with an Apple lover: Dating site, Cupidtino, aims to connect Apple aficionados with like-minded “Machearts.” But what about PC lovers? No fair!

Washington Post Shares Halted: Did news of the Newsweek auction stop Post shares from trading? Apparently not. Washington Post shares spiked higher Wednesday and triggered the first use of a new circuit breaker created after the “flash crash” in May. Bummer.

Green Dot Corp Files for $150 Million IPO

NEW YORK (Reuters) – Prepaid debit card seller Green Dot Corp filed for an initial public offering of up to $150 million on Friday.

Monrovia, California-based Green Dot sells prepaid debit cards and reloading services to U.S. consumers at roughly 50,000 retail stores including Wal-Mart Stores Inc (WMT.N), Walgreen Co (WAG.N) and 7-Eleven.

Green Dot had 2.4 million prepaid cards in active use as of Oct. 31 and said in a regulatory filing with the U.S. Securities and Exchange Commission that it believes it is the largest provider of such cards.

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