Month: July 2023
Bloom Has the Secret to Gen Z Wealth Building
As a company, Bloom is aware of the absence of youth-friendly resources for financial education. Existing platforms may provide free
The post Bloom Has the Secret to Gen Z Wealth Building appeared first on ReadWrite.
As a company, Bloom is aware of the absence of youth-friendly resources for financial education. Existing platforms may provide free stock or trade transactions, but they often fail to provide users with the fundamental education they need to succeed in the investment world. Inspired by their own struggles, Maman and Yang set out to fill this knowledge gap by developing an app that does more than just offer a brokerage account; it also provides users with engaging, hands-on lessons on how to use it.
Bloom uses an Instagram-like structure to provide educational content and quizzes to reinforce learning. By answering questions correctly in quizzes, users are rewarded with points within the app. This game-based method of education not only makes studying fun, but also increases knowledge retention and comprehension.
Bloom is unique because it has no commission structure. By eliminating the burden of high fees, Bloom makes investing accessible to young people without reducing their returns. Bloom provides a low-priced entry point for users to begin their investment journey with a monthly fee of $15 or a yearly fee of $120. Furthermore, there is no required minimum balance to use the app, making it available to users of varying economic means.
Bloom has achieved remarkable success and growth since its inception. The app’s success in teaching young people to invest can be seen in the fact that over 10 million users have completed lessons. The company has also hit seven figures in annual recurring revenue in its first year of business.
The rapid expansion of Bloom’s user base is further evidence of the app’s widespread appeal. Although the app’s initial target audience was younger teenagers, its current user base is skewed toward those in their early twenties. Because of this change, the company’s founders are thinking about developing new products to meet the demands of their clientele.
The financial needs of young people are a growing market, and Bloom competes with other startups like Copper and Greenlight. Copper, a banking and investment app aimed at teenagers, has raked in $29 million in funding and amassed over 800,000 users in a little over a year. Greenlight, a children’s app that teaches them about money and keeps them safe, has also been very successful.
Despite stiff competition, Bloom has raised $4.4 million in seed funding from high-profile backers like Contrary, Slow Ventures, Offline Ventures, Rocketship VC, and an angel group led by Andrew Yang. With these funds, Bloom will be able to expand its product line and strengthen its position in the market.
As Bloom continues to expand, co-founders Maman and Yang are thinking ahead about what’s next for their tech platform. The partners hope to broaden their catalog to include retirement savings accounts and other freemium-style add-ons. Bloom’s ultimate goal is to be its users’ trusted financial partner throughout life by constantly providing helpful tools and encouraging long-term commitment.
Bloom’s unique selling proposition is its commitment to educating and equipping young people in the realms of personal finance and investment. Bloom is a one-of-a-kind resource for young people looking to learn and grow their wealth thanks to its zero-commission model, interesting educational materials, and intuitive interface. The company’s future success and growth position it to become a major influence on young people’s financial lives.
First reported on TechCrunch
Frequently Asked Questions
1. What is Bloom, and what sets it apart from other financial platforms?
Bloom is a company that addresses the lack of youth-friendly resources for financial education and investment. Unlike other platforms that offer free stock or trade transactions without adequate educational content, Bloom focuses on providing engaging, hands-on lessons and quizzes to help users succeed in the investment world. The app’s game-based learning approach enhances knowledge retention and comprehension.
2. How does Bloom make investing accessible to young people?
Bloom eliminates the commission structure, making investing more accessible to young people without reducing their returns. It offers a low-priced entry point with a monthly fee of $15 or a yearly fee of $120, and there is no required minimum balance to use the app, catering to users with varying economic means.
3. What are some of the milestones and achievements of Bloom since its inception?
Bloom has achieved remarkable success and growth, with over 10 million users completing lessons and hitting seven figures in annual recurring revenue in its first year of business.
4. Who is Bloom’s target audience, and how has it evolved?
Initially targeting younger teenagers, Bloom’s current user base is now skewed toward those in their early twenties. This shift has prompted the founders to consider developing new products to meet the demands of their clientele.
5. How does Bloom compare to other startups in the market?
Bloom competes with other startups like Copper and Greenlight, which also focus on providing financial education and investment options to young people. Copper has secured $29 million in funding and amassed over 800,000 users in a little over a year, while Greenlight has achieved significant success as well.
6. Who are some of Bloom’s high-profile backers?
Bloom has raised $4.4 million in seed funding from well-known investors such as Contrary, Slow Ventures, Offline Ventures, Rocketship VC, and an angel group led by Andrew Yang.
7. What are Bloom’s plans for the future?
Bloom aims to expand its product line, potentially including retirement savings accounts and other freemium-style add-ons. The company’s ultimate goal is to be a trusted financial partner for its users throughout life, providing helpful tools and encouraging long-term commitment.
8. How does Bloom stand out as a unique resource for young people?
Bloom’s unique selling proposition lies in its commitment to educating and equipping young people in personal finance and investment. Its zero-commission model, interesting educational materials, and intuitive interface make it a one-of-a-kind resource for young individuals looking to learn and grow their wealth.
9. How can users get started with Bloom?
Users can sign up for Bloom through the app and begin their financial education journey by accessing the educational content and quizzes designed to make learning about investments fun and engaging.
Featured Image Credit: Unsplash
The post Bloom Has the Secret to Gen Z Wealth Building appeared first on ReadWrite.
Nearly Half of Back-to-School Shoppers Will Turn to Financing This Year, Survey Shows – CNET
Overall, 86% of consumers said they would implement at least one money-saving tactic. Tax-free weekends and online shopping savvy can help.
Overall, 86% of consumers said they would implement at least one money-saving tactic. Tax-free weekends and online shopping savvy can help.
Crypto Market Report H1 2023: Performance Insights and Key Trends
CoinMarketCap, by far the world’s most-referenced price-tracking website for crypto assets, has just released its H1 2023 Report covering the market overview, key events, future themes, and much more. Here’s the Rundown! Key highlights from CoinMarketcap’s H1 2023 Crypto Market Report:
CoinMarketCap, by far the world’s most-referenced price-tracking website for crypto assets, has just released its H1 2023 Report covering the market overview, key events, future themes, and much more. Here’s the Rundown! Key highlights from CoinMarketcap’s H1 2023 Crypto Market Report: […]
Samsung’s newest Bluetooth tracker pops up at FCC with a unique design
After no-showing at Samsung’s last event, who know when this will launch.
Enlarge / The regional headquarters of Samsung in Mountain View, California. (credit: Getty Images/Smith Collection)
Samsung’s Galaxy SmartTag 2 was a no-show at Galaxy Fold 5 launch, but considering it was just spotted at the Federal Communications Commission by 9to5Google, it should be out on store shelves eventually. A Galaxy SmartTag, if you haven’t heard, is a Bluetooth tracker, just like a Tile or AirTag, but from Samsung. Previous versions have only worked with Samsung phones.
The FCC listing features a picture of this thing, and unlike the square, Tile-clone design of the original Galaxy SmartTag, this is definitely unique. It’s a flat, pill-shaped device with a huge key ring hole at the top. It sort of looks like a cigar cutter. If that’s actually a normal key ring-sized hole, this is about twice the size of an AirTag.
Samsung’s new SmartTag. [credit:
FCC ]
Just like the Galaxy SmartTag+, this device will come with UWB (ultra-wideband) tracking, which will help locate the device when it’s nearby. When it’s far away, you will rely on the device’s smartphone network. Previously this device popped up in the Bluetooth SIG database, where it was listed with Bluetooth 5.3, which should make it more battery efficient than the old Bluetooth 5.1 tag.
Microsoft’s repairability push now extends to Xbox controllers, too
Photo by Tom Warren / The Verge
Microsoft has started selling controller parts on its online store. Owners of both the Xbox Elite Series 2 Wireless Controller and the standard Xbox Wireless Controller can head to the Microsoft store right now to buy replacement boards, sticks, buttons, covers, and more. Now, if your shoulder buttons are broken or your sticks are drifting, it means you don’t have to rely on third-party sources for parts and directions to attempt a repair that could be much cheaper than replacing controllers that can cost $59.99 or $179.99 brand-new.
The Elite series 2 controller repair kits range in price from $23.99 for button sets to $59.99 for a replacement PCBA and motor assembly. As you’d expect, prices are lower for the standard controller, starting at $19.99 for just the controller’s top case and going up to $34.99 for the PCBA and vibration motor. Replacement top cases are available in black and white variants, as are the buttons — sorry, fluorescent color fans.
iFixit also lists parts for the controllers, and it’s worth noting — those come with a “lifetime” guarantee, while Microsoft says its parts have a warranty period of one year.
Brad Rossetti, Xbox insider program lead for Microsoft, tweeted about the new program this afternoon, which appears to have been live for about a week. Along with downloadable instructions, an official instructional video on YouTube can show gamers how to repair their controllers.
Image: Sony
DualSense Edge stick replacement diagram.
This helps the controllers in comparison to Sony’s recently introduced DualSense Edge. The $200 gamepad competes with the Elite series based on “pro” gamer features and also came out of the box with stick modules that can be easily replaced by removing a cover and lifting a latch. However, Sony doesn’t sell replacements for the other parts Microsoft’s store is now listing.
It also follows Microsoft’s agreement with shareholder advocacy group As You Sow nearly two years ago to look into enabling customers’ right to repair their equipment. In June, the company also began selling replacement parts for Microsoft Surface devices. The move is similar to Apple’s decision to start selling repair kits last year.
Photo by Tom Warren / The Verge
Microsoft has started selling controller parts on its online store. Owners of both the Xbox Elite Series 2 Wireless Controller and the standard Xbox Wireless Controller can head to the Microsoft store right now to buy replacement boards, sticks, buttons, covers, and more. Now, if your shoulder buttons are broken or your sticks are drifting, it means you don’t have to rely on third-party sources for parts and directions to attempt a repair that could be much cheaper than replacing controllers that can cost $59.99 or $179.99 brand-new.
The Elite series 2 controller repair kits range in price from $23.99 for button sets to $59.99 for a replacement PCBA and motor assembly. As you’d expect, prices are lower for the standard controller, starting at $19.99 for just the controller’s top case and going up to $34.99 for the PCBA and vibration motor. Replacement top cases are available in black and white variants, as are the buttons — sorry, fluorescent color fans.
iFixit also lists parts for the controllers, and it’s worth noting — those come with a “lifetime” guarantee, while Microsoft says its parts have a warranty period of one year.
Brad Rossetti, Xbox insider program lead for Microsoft, tweeted about the new program this afternoon, which appears to have been live for about a week. Along with downloadable instructions, an official instructional video on YouTube can show gamers how to repair their controllers.
Image: Sony
DualSense Edge stick replacement diagram.
This helps the controllers in comparison to Sony’s recently introduced DualSense Edge. The $200 gamepad competes with the Elite series based on “pro” gamer features and also came out of the box with stick modules that can be easily replaced by removing a cover and lifting a latch. However, Sony doesn’t sell replacements for the other parts Microsoft’s store is now listing.
It also follows Microsoft’s agreement with shareholder advocacy group As You Sow nearly two years ago to look into enabling customers’ right to repair their equipment. In June, the company also began selling replacement parts for Microsoft Surface devices. The move is similar to Apple’s decision to start selling repair kits last year.
Facebook to unmask anonymous Dutch user accused of repeated defamatory posts
submitted by /u/Typical-Plantain256 [link] [comments]
submitted by /u/Typical-Plantain256
[link] [comments]
PS5 Beta Update Brings 3D Audio for Dolby Atmos and 8TB Storage Support – CNET
Also included in the PlayStation 5 update are new accessibility features.
Also included in the PlayStation 5 update are new accessibility features.