20
Feb
1

This is basically just another "big company buys smaller company" story, but if you're a Simple customer (or have been interested in checking out the service), then it's still worth paying attention to.

1[5]

Simple, the online-only bank formerly backed by Bankcorp will be changing hands this week, as BBVA has purchased the small company for a reported $117m. According to Simple, however, this change shouldn't affect its users in any way – daily operations will continue to carry on as they have in the past. The company will still operate as an independent entity, it will continue to be headquartered in Portland, and all customer account numbers, cards, and and the like will remain the same. In short, Simple customers won't need to do anything differently, which the company insists will continue into the long-term.

If you're a Simple customer and are interested in more details of the acquisition, there are two press releases on the matter (1, 2), along with Simple's... simple... Q&A and blog post.

Cameron Summerson
Cameron is a self-made geek, Android enthusiast, horror movie fanatic, musician, and cyclist. When he's not pounding keys here at AP, you can find him spending time with his wife and kids, plucking away on the 6-string, spinning on the streets, or watching The Texas Chainsaw Massacre on repeat.

  • Dani

    Nobody cares

    • Johnathan Rodriguez

      I'm a Simple user, and I care.

  • http://www.LOVEanon.org/ Michael Oghia (Ogie)

    That logo is intense

  • Alvin Brinson

    Yeah, customers will have no changes... for a few months. That's always how it works. "daily operations will continue to carry on as they have in the past." is doublespeak for, we are having meetings over the next few months to plan our post-acquisition strategy which is going to include integrating services, levering synergy, blah blahblah...

    A year from now, Simple isn't going to be running as it's own independent entity. Mark my words.

  • mikeym0p

    Oh cmon! Dont load me with bullshit, the first thing to go will be Simple's awesome customer service. I bet in a year from now I will regret joining Simple now. I dont think one start up has retained quality once being acquired.

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