Utah-based Divvy nabs $200M in new funding amid growth explosion

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  • WHM1972 Draper, UT
    April 30, 2019 2:20 p.m.

    It would be nice to see companies celebrated for achieving profitability rather than fundraising. This headline could also read: Company Overspending at a Dramatic Pace, Receives $200M lifeline.'

  • AlagnakLounger Heber City, UT
    April 30, 2019 10:41 a.m.

    Ok moderator let's try this again.

    I'll paraphrase former Senator Hatch's comments from a Senate hearing on data privacy: 'Nothing is free. When you use Google, Facebook or any number of other "free" , websites, programs, software or apps, you are giving them permission to collect data about you in exchange for that "free" stuff. Don't be naive. You are giving up your privacy.' There, I think that adequately paraphrases his comments.

    The questions I would ask before using Divvy:

    Will they be collecting data on my company's cash inflows and outflows through the use of their "free" product?

    If Divvy is monetizing my data, are they doing it with my consent in plain language or in the small print in their software agreement?

    If so, who do they sell that data to? Do I really want potential purchasers of that data to have that data?

    Why would a bank(s) pay Divvy "on the banking side of the transaction" for transactions they are already structured to process without Divvy? What would the the bank receiving in this exchange transaction?

    Lot's of questions that a prudent CFO, VP of finance, or controller should ask before jumping into bed with Divvy or any other such provider.