QUOTE AND NEWS
Benzinga  Jul 14  Comment 
Green Dot Corporation (NYSE: GDOT) today announced the official opening of Green Dot Shanghai Software Technology Co. Ltd. "Green Dot Shanghai" is a new wholly-owned subsidiary of Green Dot Corporation that is located in the Zhangjiang Hi...
Motley Fool  Jun 23  Comment 
Green Dot stock rocketed 35% higher after the market open on Tuesday as the company announced a renewed agreement with Wal-Mart Stores.
MarketWatch  Jun 23  Comment 
Green Dot shares up 27% in premarket after news of debit-card deal with Wal-Mart
TheStreet.com  Jun 22  Comment 
NEW YORK (TheStreet) -- Shares of Green Dot were gaining 21.6% to $18.62 in after-hours trading on Monday after the credit services firm announced a share repurchase program and a new agreement with Walmart . Green Dot said its board of...
MarketWatch  Jun 22  Comment 
Green Dot Corp.'s stock soared 21% in after-hours trade Monday, after the provider of prepaid debit cards said it signed a new five-year deal to be the program manager and issuing bank for Walmart's MoneyCard debit card products. The new deal...
Benzinga  Jun 22  Comment 
Green Dot Corporation (NYSE: GDOT) announced today that it has entered into a new, long-term agreement with Walmart, whereby Green Dot Corporation and Green Dot Bank will continue to serve as the program manager and issuing bank for the Walmart...
MarketWatch  Jun 22  Comment 
Shares of Green Dot jump in Monday’s extended trade after the prepaid debit cards company announced a major deal with Wal-Mart Stores Inc.




 
TOP CONTRIBUTORS

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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