SoFi’s Multi-Billion Dollar Weapon is on the Verge of Disruption
SoFi has a secret weapon that is key to SoFi taking over the legacy financial space and maybe one day becoming the largest fintech company in the world.
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SoFi is a fast growing fintech company with its hands in more areas than almost any company. From financial services, to lending, to technology APIs, SoFi is building a suite of products that will challenge any traditional bank.
SoFi started out as a student loan company, offering graduate loans across the country. They then expanded into new areas of lending such as mortgages or personal loans. While they have since moved into new areas like financial services with their apps SoFi Money or SoFi Invest, their Galileo Technology Platform, or their credit card, lending has always been there operating in the background.
In this video I look at SoFi's strategy of acquiring smaller fintech companies as it works to become the "AWS of fintech," providing the technological backbone for the rest of the financial services industry. I dive into issues around SoFi's stock based compensation, as well as their high growth rate, which many believe is being artificially inflated by these acquisitions. I also look at their technology platform and its effect on the business from 3 angles: its earnings impact, any technological advantages it provides, and lastly its strategic impact on the company.
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