Friday, February 26, 2010
Green Dot Files For IPO
Monrovia-based Green Dot, a provider of pre-paid VISA and Mastercard cards, has filed for an IPO, saying this morning that it is looking to raise up to $150M in an IPO on the NYSE. The firm's IPO is being undewritten by J.P. Morgan, Morgan Stanley, Piper Jaffray, and UBS Investment Bank. Green Dot is venture backed by Sequoia Capital, TTP Fund, as well as a significant number of Tech Coast Angels. The firm reported net income of $37.16M on revenues of $234.8M in 2009. Green Dot is headed by Steven Streit.