Charlie Jevise's Company Is Like Amazon for Higher Education

Charlie founded her company Frank to help students apply for college financial aid in 2017 when she was just 24 years old. In 2021, JPMorgan bought her company for $175 million as part of its Chase Retail Banking Division with the aim of getting access to younger customers. Problems emerged almost immediately after the deal closed when JPMorgan noticed that the delivery and open rates for its emails to Frank customers were far, far lower than expected. US authorities now allege a month long scheme to fabricate user data. According to the lawsuit, Frank only had about 300,000 clients and fabricated data to show a much larger customer base.