Steve Streit

Steve Streit (February 28, 1962, North Miami, Florida) is an American businessman known for founding Green Dot Corporation.[1][2][3] He is also the founder and lead partner of SWS Venture Capital and a retired board member of the Federal Reserve Bank of San Francisco, Los Angeles Branch.[4][5][6]

Steve Streit
Steve Streit
Born (1962-02-28) February 28, 1962
North Miami, Florida, United States
NationalityAmerican
EducationUniversity of Florida
OccupationBusiness executive
Known forGreen Dot Corporation and SWS Venture Capital
Websitewww.swsventurecap.com

Early life and education

Streit grew up in the city of North Miami, Florida. He attended the University of Florida, majoring in broadcast management, while working as a DJ.[1]

Career

In 1999, after leaving the broadcasting industry, he created the prepaid debit card, marketed as Green Dot, which was originally intended for teenagers to make purchases online, but quickly expanded to serve financially underserved Americans.[7][8] In 2010, Green Dot Corporation became a public company, trading on the New York Stock Exchange under the symbol GDOT.[1]

Streit also served on the board of the Federal Reserve Bank of San Francisco's Los Angeles branch and later founded SWS Venture Capital.[6][5]

On December 31, 2019, Streit retired as CEO and Director of Green Dot Corporation.

Green Dot Corporation
Main article: Green Dot Corporation

Streit founded Green Dot Corporation in Pasadena, California. Green Dot provides MasterCard and Visa debit cards to consumers who could not otherwise get an account from a traditional bank. In 2002, Rite Aid became the first large retailer to sell Green Dot cards. By 2010, over 50,000 retail stores sold Green Dot products.[9]

In 2004, Green Dot created the first "cash to debit card reload network," in which any prepaid card issuer could have their customers load money onto their debit card from any Green Dot retailer.[9][10]

GoBank was launched nationwide to the public in 2013.[11] It was the first bank account designed specifically to be used as a mobile app.[11]

Personal life

Streit lives in Naples, Florida. He has seven adult children.[12]

References
  1. "The Inventor of Prepaid Debit Cards Is Going Mobile". www.bloomberg.com. February 12, 2018. Retrieved February 27, 2023.
  2. Cutchin, James (February 27, 2020). "Green Dot Earnings Top Estimates, Revenues Fall Short". Retrieved February 27, 2023.
  3. Greenburg, Zack O'Malley. "Card Shuffler". Forbes. Retrieved February 27, 2023.
  4. "Russell Simmons, Steve Streit Explain $167 million RushCard Acquisition". February 1, 2017. Retrieved February 27, 2023.
  5. Ha, Anthony (August 21, 2018). "Braavo raises $6M for its app financing business". Retrieved February 27, 2023.
  6. "Steven W. Streit Appointed to the Los Angeles Branch Board of the Federal Reserve Bank of San Francisco". San Francisco Fed. Retrieved February 27, 2023.
  7. Kauflin, Jeff. "The $100 Trillion Opportunity: The Race To Provide Banking To The World's Poor". Forbes. Retrieved February 27, 2023.
  8. "Green Dot is targeting the 'unhappily banked' for its prepaid cards". Baltimore Sun. Retrieved February 27, 2023.
  9. Arrington, Michael (September 28, 2010). "Green Dot: The $2 Billion IPO You've Never Heard Of". Retrieved February 27, 2023.
  10. "Green Dot is targeting the 'unhappily banked' for its prepaid cards". Los Angeles Times. February 23, 2015. Retrieved February 27, 2023.
  11. Malcolm, Hadley. "Pay-what-you-want GoBank puts mobile users first". USA TODAY. Retrieved February 27, 2023.
  12. "How I Made It: Steven W. Streit, founder and CEO of Green Dot Corp". Los Angeles Times. November 13, 2011. Retrieved February 27, 2023.
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