Latest news with #JordanWexler
Finextra
16-05-2025
- Business
- Finextra
Acorns buys family wealth app EarlyBird
Savings and investment app Acorns has acquired the assets of EarlyBird, a "family wealth and digital memory" platform for kids. Financial terms were not disclosed. 0 Founded in 2019, EarlyBird is a mobile app that helps parents and loved ones invest in the financial futures of their children. Customers set up an investment account which a network of family and friends can then help build up, adding funds as well as attaching "digital memories" such as notes, photos and videos. The deal sees Acorn double down on its strategy of targeting entire families, building on its 2023 acquisition of British kids' money management company GoHenry and the launch of Acorns Early. EarlyBird will shut down, with the accounts of its 250,000-odd users set to close in June as people are offered the chance to join Acorns. Co-founders Jordan Wexler and Caleb Frankel are joining Acorns. Says Frankel: "We have such strong alignment in our core values and shared commitment to financial accessibility and education, and with Acorns, we'll be able to create even more meaningful family experiences around money." Noah Kerner, CEO, Acorns, adds: "This deal with EarlyBird, and its two talented founders, represents another important step in our journey to becoming a full financial wellness app for everyday families."
Yahoo
15-05-2025
- Business
- Yahoo
Acorns acquires family wealth and digital memory platform EarlyBird
Savings and investing startup Acorns has acquired EarlyBird, an investment gifting platform for families, the company told TechCrunch exclusively. The financial terms of the deal were not disclosed. As part of the acquisition, EarlyBird will shut down, and all customer accounts will officially close on June 23. Customers' funds will be returned to the bank account connected to their account. Founded in 2019, EarlyBird launched a product that combined financial investing with community. The app allowed families and friends to gift investments to children while preserving memories through a digital time capsule. The investments would become the child's once they turned 18, and they could use funds for things like paying for college, paying a down payment on a home, or seeding their first business. "When we founded EarlyBird, we envisioned creating a platform that would transform how families leave lasting legacies for their children," said EarlyBird CEO and co-founder Jordan Wexler in a statement. "The opportunity to join Acorns not only reaffirms our vision, but expands our impact to millions of families who also care deeply about building their children's financial futures." Wexler and co-founder Caleb Frankel will join the Acorns team to help build out Acorns Early, the startup's smart money app for kids. Acorns Early offers a debit card designed for kids and teens to help them develop financial literacy and manage their money. The company launched Acorns Early following its acquisition of GoHenry, a startup focused on providing money management and financial education services to 6- to 18-year-olds. Acorns believes that by bringing on Wexler and Frankel, the company will be able to leverage their experience and passion for the space to enhance Acorns Early. "Our vision is to build a financial wellness system for the whole family, creating compound growth at every life stage," Acorns CEO Noah Kerner said in an email to TechCrunch. "The shared experiences and insights between our two teams will enable us to deliver this vision faster and better so that we create maximum value for everyday American families." Existing EarlyBird customers will be offered a free one-year subscription to "Acorns Gold," a plan that offers access to all Acorns products, including Acorns Early. Customers will receive an email detailing the sign-up process. Acorns notes that EarlyBird users will not be able to transfer their EarlyBird funds over to Acorns Early. If users want to continue their investing journey with Acorns, they need to withdraw their funds from EarlyBird and open a new account with Acorns. The company plans to integrate EarlyBird's digital time capsule feature into the Acorns Early app at a later date. On EarlyBird, the feature allowed users to build out time capsules by recording videos at memorable moments in their lives. For example, if a mother received a promotion and wanted to gift a one-time investment to her child, she could record a video talking to her child about it to commemorate and remember the moment. The acquisition comes as Acorns has doubled its customers on Acorns Gold, its $12 per month subscription plan, over the past year. "Our Gold Plan will be the place to deliver financial wellness for the whole family — products for parents, kids, and all the connective fabric between the family unit," Kerner said. "This will be the place where the whole family can manage their money as they grow smart money habits together." Acorns raised $300 million in March 2022 and was valued at $2 billion at the time. The company did not provide an updated valuation. This article originally appeared on TechCrunch at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
15-05-2025
- Business
- TechCrunch
Acorns acquires family wealth and digital memory platform EarlyBird
Savings and investing startup Acorns has acquired EarlyBird, an investment gifting platform for families, the company told TechCrunch exclusively. The financial terms of the deal were not disclosed. As part of the acquisition, EarlyBird will shut down, and all customer accounts will officially close on June 23. Customers' funds will be returned to the bank account connected to their account. Founded in 2019, EarlyBird launched a product that combined financial investing with community. The app allowed families and friends to gift investments to children while preserving memories through a digital time capsule. The investments would become the child's once they turned 18, and they could use funds for things like paying for college, paying a down payment on a home, or for seeding their first business. 'When we founded EarlyBird, we envisioned creating a platform that would transform how families leave lasting legacies for their children,' said EarlyBird CEO and co-founder Jordan Wexler in a statement. 'The opportunity to join Acorns not only reaffirms our vision, but expands our impact to millions of families who also care deeply about building their children's financial futures.' Wexler and co-founder Caleb Frankel will join the Acorns team to help build out Acorns Early, the startup's smart money app for kids. Acorns Early offers a debit card designed for kids and teens to help them develop financial literacy and manage their money. The company launched Acorns Early following its acquisition of GoHenry, a startup focused on providing money management and financial education services to 6- to 18-year-olds. Acorns believes that by bringing on Wexler and Frankel, the company will be able to leverage their experience and passion for the space to enhance Acorns Early. 'Our vision is to build a financial wellness system for the whole family, creating compound growth at every life stage,' Acorns CEO Noah Kerner said in an email to TechCrunch. 'The shared experiences and insights between our two teams will enable us to deliver this vision faster and better so that we create maximum value for everyday American families.' Techcrunch event Join us at TechCrunch Sessions: AI Secure your spot for our leading AI industry event with speakers from OpenAI, Anthropic, and Cohere. For a limited time, tickets are just $292 for an entire day of expert talks, workshops, and potent networking. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW Existing EarlyBird customers will be offered a free one-year subscription to 'Acorns Gold,' a plan that offers access to all Acorn products, including Acorns Early. Customers will receive an email detailing the sign-up process. Acorns notes that EarlyBird users will not be able to transfer their EarlyBird funds over to Acorns Early. If users want to continue their investing journey with Acorns, they need to withdraw their funds from EarlyBird and open a new account with Acorns. The company plans to integrate EarlyBird's digital time capsule feature into the Acorns Early app later this year. On EarlyBird, the feature allowed users to build out time capsules by recording videos at memorable moments in their lives. For example, if a mother received a promotion and wanted to gift a one-time investment to her child, she could record a video talking to her child about it to commemorate and remember the moment. The acquisition comes as Acorns has doubled its customers on Acorns Gold, its $12 per month subscription plan, over the past year. 'Our Gold Plan will be the place to deliver financial wellness for the whole family — products for parents, kids, and all the connective fabric between the family unit,' Kerner said. 'This will be the place where the whole family can manage their money as they grow smart money habits together.' Acorns raised $300 million in March 2022 and was valued at $2 billion at the time. The company did not provide an updated valuation.
