News

Breaking News: Another Victory For DC Tech

Last night, HelloWallet was acquired by Morningstar for $52.5M. HelloWallet founder Matt Fellowes shared the details with us this morning.

Morningstar, a Chicago-based independent investment research firm, invested $6.75M in 2012 in HelloWallet, a 5-year-old provider of online financial wellness programs. Matt says as time went on, a Morningstar board member made note that the two companies should be one. (The company also raised VC from Revolution, Grotech, and TD Fund.) Matt will remain head of HelloWallet and keep its 50 employees in DC. In fact, he’s eyeing some square footage expansion beyond the 10k SF it occupies in Dupont Circle and will add head count. Matt says he’ll share more details on what kinds of positions in the coming months. So how did HelloWallet celebrate the acquisition? Matt tells us there’s an empty keg in the office today, but it’s business as usual. “Everybody was a little gun shy in the wake of LivingSocial, but this is a positive statement about DC tech.”

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Data Center Energy Bill Stalls In Congress As Opponents Say It Lacked 'Real Teeth'

FedEx's Consolidation Plan Puts $3B Of CMBS Debt In Crosshairs

FBI Opens Investigation Into Multifamily Investor Lurin Capital

DWS Plans Liquidation Of Nontraded REIT After Heightened Redemption Activity

Bisnow's 2026 DEI Data Series

America's Data Centers Are Running Out Of People Who Know How To Run Them

Why Data Centers Crave Simplicity As Operations Grow More Complex

Blackstone Looks To Secondary Market To Cash Out Investors In $11B Fund

CalSTRS Plans $5B In New CRE Investments

Ares, Canadian Pension Investor Launch $2.4B U.S. Logistics JV

Troubled Multifamily Loans Face A Refinancing Problem: Who Puts In New Equity?

Toys R Us Plans 120 New Stores Ahead Of The Holidays