QUOTE AND NEWS
Benzinga  Apr 12  Comment 
Stash, a fintech startup that lets users invest small amounts in ETFs and fractional shares of stocks, announced Thursday it has partnered with Green Dot Corporation (NYSE: GDOT) to bring banking functionality to its app. What Happened Stash...
Clusterstock  Feb 23  Comment 
This story was delivered to BI Intelligence "Payments Briefing" subscribers hours before appearing on Business Insider. To be the first to know, please click here. US prepaid card issuer Green Dot posted impressive growth across   metrics in...
Benzinga  Feb 21  Comment 
Green Dot (NYSE: GDOT) announces its next round of earnings Wednesday. Here is Benzinga's everything-that-matters guide for today's Q4 earnings announcement. Earnings and Revenue Analysts expect Green Dot earnings of 25 cents per share....
Benzinga  Feb 13  Comment 
Green Dot Corporation (NYSE: GDOT) is a provider of reloadable prepaid debit cards and cash reload processing services and the stock has risen more than 120 percent over the past year, but at least one analyst sees the potential for continued...




 
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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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