Benzinga  May 8  Comment 
In a report published Friday, analysts at Compass Point downgraded Green Dot Corporation (NYSE: GDOT) from Buy to Neutral. The price target was lowered from $22 to $18. Although the company posted better-than-expected results for Q1, its full year...
SeekingAlpha  May 7  Comment 
TechCrunch  Apr 29  Comment 
 Whisper announced today that it hired Mark Troughton to be its president. Troughton was the president of Green Dot, which specializes in prepaid debit cards and went public in July 2010. He was most recently the president of Americas for Wonga,...
Benzinga  Mar 5  Comment 
In a report published Thursday, Credit Suisse analyst Georgios Mihalos upgraded the rating on Green Dot Corporation (NYSE: GDOT) from Neutral to Outperform, and raised the price target from $19.00 to $25.00. In the report, Credit Suisse noted,...
MarketWatch  Mar 5  Comment 
Green Dot Corp.'s stock rallied 7.2% in premarket trade Thursday, after Credit Suisse upgraded the supplier of pre-paid debit cards, given the stock's sizable potential upside and limited downside risk. Analyst Georgios Mihalos raised his rating...
TechCrunch  Feb 8  Comment 
 Editor’s Note: Brian Ascher joined Venrock in 1998 as a Kauffman Fellow and is currently a Partner based in Venrock’s Palo Alto office. Though people have turned on them lately, I love using Uber. From the very first time (September 28,...


Green Dot (GDOT) (NYSE: GDOT) sells prepaid debit cards through third party retailers such as Wal-Mart (WMT). The company provides the retailer with a commission of the sale of the debit cards in return for selling them. The cards are rechargeable and can be used anywhere that a Mastercard (MA) or Visa (V) is accepted. These cards have been used as a replacement for credit cards but without any fear of penalty fees, overdraft fees, or minimum balances.[1]

The company's initial public offering of stock filed on the NYSE and went public on 21 July 2010. It was priced at $36, above the initial price range of $32-$35. The major underwriters were J P Morgan Chase (JPM) and Morgan Stanley (MS). The company raised $164M by selling 4.56M shares [2]

Green Dot purposely kept the IPO small at under 4.6M shares because it did not need to raise money. The company had $102M in cash and does not have any debt on its books. The company did not want to dilute its shares, but instead wanted to gain liquidity for some of its prominent owners. This made the Green Dot shares relatively high in demand since fewer shares were sold than were in demand. The company issued 2.2M shares or 5.5% to Wal-Mart (WMT).[3]

The company's 2009 revenue was $234.8M which was a 40% increase from the $168.1M revenue from 2008. Net Income also rose by 118% in 2009 from $29.2M in 2008 to $63.7M. In 2009, a total of $4.7B was loaded onto Green Dot's debit cards, a 66% increase from 2008. This has made the company one of the leading providers of reloadable debit cards.[4]

I'm quite pleased with the inofmration in this one. TY!

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