Goldman Sachs Buys Personal-Finance App Clarity Money
MarketWatch (April 15, Hoffman, Rudgeair) is reporting that Goldman Sachs Group Inc. has purchased personal-finance app Clarity Money, acquiring a mobile storefront for its expanding consumer bank. Terms of the deal were not disclosed, although previous media reports stated that Goldman is paying a "high eight-figure sum" for Clarity Money -- a rich valuation for a two-year-old start-up that has not turned a profit yet. "But Clarity Money's roughly one million users will quadruple Goldman's customer base," notes MarketWatch. Clarity Money's backers include Citigroup Inc.'s venture-capital arm and Soros Capital.
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