April 12, 2023

A $175 Million 'Huge Mistake'

by The Journal

When JPMorgan Chase paid $175 million to acquire Frank— a college financial planning startup— it touted big plans to connect with the company’s millions of users. Then it all went wrong. WSJ’s Melissa Korn recounts the story of what went wrong.

Further Reading:

- Frank Founder Faces Criminal Fraud Charges Over JPMorgan Deal 

- Frank Founder Says JPMorgan Knew How Many Users Firm Had in $175 Million Deal 

- JPMorgan Bought College Financial-Aid Platform for $175 Million—and Now Says Most of Its Users Were Fake 

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