In 2016, a trio of entrepreneurs created Dave, a company that reimagined the banking industry by eliminating many of the pain points of traditional banking.
Since then, the company has reportedly helped its members avoid nearly $1 billion in overdraft fees. It has attracted its fair share of customers, with over 10 million people now using Dave’s services.
It has also been a hit with venture capitalists, with Dave attracting $176.3 million from 7 separate funding rounds, including early backing from Mark Cuban.
Earlier this year, Dave announced that it was going public via a SPAC merger with VPC Impact Acquisition Holdings III at a valuation of $4 billion. Not bad for a young company.
Dave, which owns Dave.com, filed a registration document with the SEC in February that seems to point towards a purchase price for its domain.
On page F-91 of the document, there’s a domain name listed with a carrying cost of $121,000.
Is this the purchase price of Dave.com? In an interview that I performed with Dave’s CEO, Jason Wilk, in 2017, he stated that the domain’s purchase price “wasn’t $50,000, but it also wasn’t $1 million.” Wilk declined to disclose an exact amount.
After discovering this $121,000 potential purchase price, I reached out to Wilk and to the domain’s former owner for clarification, but I didn’t receive a response.
It’s likely, though, that the figure is referring to Dave.com since the company doesn’t seem to own any other valuable domains. Whether or not the $121,000 fee is the full acquisition price of the domain is unknown.
The domain was acquired by Dave in 2017 as an upgrade from TryDave.com. At the time, a $121,000 purchase price for Dave.com would’ve been a reasonable fee.