User:Wikiupdater2017/sandbox

Jason Wilk
Jason Wilk (born June 12, 1985) is an investor and serial entrepreneur with over 13 years of experience building successful digital companies. He is currently the CEO of the fintech app Dave. A lifelong entrepreneur, Wilk began building companies in his dorm room when he founded golf equipment e-commerce site 1Daysports. He is also the founder of WriteyBoards and an investor in many other startups.

AllScreen
From 2009 to 2016, with backing from Mark Cuban, Skip Paul, Jonathan Kraft and Y Combinator, Jason was co-founder and CEO of AllScreen.TV, which brought the successful model of television syndication to the internet. The original idea for AllScreen was "Twitter for sports betting" but he and his co-founder quickly found that this business model was not viable. Wilk met with hundreds of people in the advertising and digital media worlds to discover a business model that would work with the technology that he and his co-founder had created.

Wilk slept on friends’ couches while building the company so that he could cut down on expenses. Through a number of pivots to the business model, he and his co-founder landed on a successful approach and were ultimately able to grow the company.

In 2011, Wilk was a 25-year-old former college golfer at Loyola Marymount University in Los Angeles with a start-up that badly needed another backer. After what Wilk admits was “relentless emailing” — the young entrepreneur got a $300,000 check from Shark Tank star Mark Cuban. "He understands what it takes to make customers happy. He is a geek who is always looking for better ways to apply technology," Cuban said. "That’s as good as it gets."

Cuban ended up hitting it big. His $300,000 investment in 2011 gave him a little more than 20 percent of Wilk’s company. Within four years Cuban saw a big return when digital video distributor Zealot Networks plunked down $85 million in cash and stock for the company.

Dave
Following the sale of AllScreen.TV, Wilk wanted to return to his roots as a founder focused on solving specific consumer challenges, as he had with the golf deals site he founded while in college and Writeyboards. He reflected on challenges that he had faced in the past and overdraft fees were top of mind. This led to the creation of Dave (sometimes known as Dave.com), a digital banking service. In October of 2017, the company raised Series A funding of $13 million, led by Section 32 (Bill Maris, founder of Google Ventures) with participation from Mark Cuban, the Kraft family, The Chernin Group, David Friedberg, Diplo, JP Morgan, SV Angel, Skip Paul, Jason Rubin and Bill Jeffries.

The service emphasizes no overdraft fees, and provides loans to individuals' accounts at their banks for overdraft protection. The company uses an algorithm to predict users ability to repay loans based on their checking account and income history. The algorithm predicts when a user's expenses may exceed their balance, sending a notification and the option for a loan until the user's next paycheck. It doesn't charge overdraft fees, instead charging $1 a month to use the app and giving the option to "tip" after getting a loan. Mark Cuban invested $3 million in the company, saying he was crushed by overdraft fees in his twenties.

The Dave app was the Apple App of the day in April 2017. It has been downloaded 10 million times on iOS, and over a million times on Android devices.

In July 2019, the company was named one of the next billion dollar startups by Forbes. The company is FDIC insured through a partner bank, the Memphis-based Evolve Bank and Trust. Just two years after Los Angeles-based startup launched with a suite of money management tools to save consumers from overdraft fees, the company was worth $1 billion.

Dave’s business model is dedicated to benefitting both people and the planet through its product and its social impact endeavors. Dave has partnered with Trees for the Future and Feeding America to donate meals and plant trees when users take specific actions within the app.

Dave Banking
In 2019, the company unveiled mobile banking. Aimed at the younger generations, Dave Banking helps customers build their credit by automatically reporting everyday payments including rent and utility bills. The service, which costs $120 a year, is free to users who deposit their paycheck into the Dave Banking account. The checking account also provides customers with a $100 no-interest overdraft protection, available regardless of the customer’s current credit score. The checking account also provides customers with a $100 no-interest overdraft protection, available regardless of the customer’s current credit score.