Personal finance site NerdWallet files for IPO

Personal finance site NerdWallet Inc., which employs more than 100 journalists, filed for an initial public offering on Friday, reports Stephen Nakrosis of MarketWatch.com

Nakrosis reports, “‘Our mission is to provide the tools, information and insight people need to navigate all of life’s financial decisions,’ the company said, adding it provides guidance to consumers through the NerdWallet app and other content.

“NerdWallet said substantially all its revenue is generated through fees paid by its financial services partners ‘in the form of either revenue per action, revenue per click, revenue per lead and revenue per funded loan arrangements.’

“For the six months ended June 30, the San Francisco company had revenue of $181.6 million. In the six month period ended June 30, 2020, the company said it had revenue of $137.3 million.”

Read more here. The filing can be found here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.