News Score: Score the News, Sort the News, Rewrite the Headlines

Chime to buy Salt Labs for as much as $173M in push to expand ahead of possible IPO

Jason Lee, the entrepreneur who cofounded the payroll service DailyPay, is selling his latest startup, Salt Labs, to neobank Chime Financial. Roughly all of Salt’s 22 employees will join Chime, including Lee, who will lead a new business unit. The deal, which is expected to close later this week, calls for Chime to provide an upfront payment of $14 million, according to people familiar with the deal. The transaction also includes an earnout where the Salt team can earn over time an equity packag...

Read more at fortune.com

© News Score  score the news, sort the news, rewrite the headlines