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'Our customer acquisition engines are working very well': Dave's Jason Wilk
Tearsheet Podcast: Exploring Financial Services Together
The Power of the Brand Is Bearing Fruit at Dave
The pullback of just FinTech in general from a funding perspective, crypto especially, was really creating a lot of noise in marketing. They were spending a ton of money on marketing, which led to increased CPMs across the board. And then with the Neo-Banks struggling on valuation right now, VCs are not putting as much money to work,. Less marketing dollars coming in the business from competition, which also helps. But until you reach scale, I mean, that business was at a sort of negative gross margin for us for a while.
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