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.”
