CNBC chairman Mark Hoffman sent the following announcement to the staff:
After nearly three-and-a-half successful years of working hand in hand with Acorns to create impactful content that democratized investing and savings for a new generation, we have made the joint decision to end our editorial partnership in July so that we can better focus these efforts within the CNBC portfolio and Acorns can focus more on their in-product education.
Over the course of our relationship, we have seen incredible growth in the valuation of Acorns which in part can be attributed to the stellar work our team has done. When we began producing Grow content in 2019, the site had 105,000 unique visitors and this year, we hit a record 6.5 million. Our cross-company financial wellness initiative, Invest in You, which was created specifically for this partnership, has grown to an average of 5 million unique visitors each month and its award-winning content has been featured across NBCUniversal. Needless to say, we should all be extremely proud of what we have accomplished together.
I am grateful to Noah and the Acorns team for their enthusiasm and dedication to our shared goal of educating future investors and we are excited to follow the company’s success as NBCUniversal and Comcast Ventures will remain an equity investor in Acorns.
I want to extend my sincerest thanks to those involved in supporting this company initiative, especially the Grow and Invest in You editorial groups. HR will be in touch within the next week to discuss each employee’s opportunity within the company going forward.
As the leader in all things money and business news, financial education is a top priority for us, and we will continue to deliver on that mission by providing important and meaningful information to viewers and users through our editorial efforts across all of CNBC’s platforms.
Mark
