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Ex-Uber Exec To File $250M SPAC IPO Backed By Former Google CEO

PYMNTS

Hims , a direct-to-consumer company selling health products targeted at millennials, is using a SPAC to go public , for example. Josh Harris , co-founder of Apollo Global Management , said the SPAC trend is not a flash in the pan. Harris said SPACs have gone from 3 percent to 20 percent of the market during the recent rush in cases.

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Millionaires, Millennials And The Great Avocado Debate

PYMNTS

Are millennials eating too many avocados on toast for their own good? The crux of the debate is this: are first- time home sales down because, given the choice of a two car garage and a yard in the suburbs, millennials have, en masse, decided they’d rather enjoy a more richly-delicious brunch experience, week in and week out?

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Cleo Raises $44 Million In Series B For Digital Financial Adviser Platform

PYMNTS

Its platform, which has 4 million Gen-Z and millennial users, provides customers with insight into their finances and data to make financial decisions. market, and make additional management hires in the San Francisco Bay Area. Cleo bills itself as a digital financial assistant and adviser for Generation Z.

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Wine.com Uncorks A Vintage Year

PYMNTS

Millennial purchases grew 36 percent in 2019, which Bergsund sees as the key to what he calls the next generation of wine drinkers. Millennials are leading a premium trend for wine. Millennials are also leading a trend in high-end spirits, which will be a focus for 2020. Revenue from the company’s mobile app grew 60 percent.

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SoFi Sees Investor Accounts Double Thanks To Fractional Shares

PYMNTS

The CEO of SoFi, the digital personal finance company based in San Francisco, said its investor accounts have doubled this year, mostly due to fractional shares. Founded in 2011, SoFi made its reputation by refinancing student loans for millennials. In 2019, it launched SoFi Invest and SoFi Money, a cash management account.

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PayPal Deal, Connected Economy And Cyberwar Top Week’s News

PYMNTS

David Chubak will head all retail sectors — branches, mortgages, wealth, risk management and small business, according to a memo. The San Francisco-headquartered startup runs membership-based healthcare clinics and was launched by internal medicine doctor Tom Lee, who served as the company’s CEO until 2017. How To Win The $1.4T

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Transformation Time Bomb?

Independent Banker

Three ways millennials could accelerate FinTech trends in 2016. When it comes to finance, millennials are a generation known to be conservative in spending and distrustful of financial institutions. Thus, it’s not shocking that millennials are a driving factor in the growing financial technology, or FinTech, movement.