ENGLEWOOD CLIFFS, NJ, and IRVINE, CA, January 28, 2019—CNBC, First in Business Worldwide, and Acorns, the country’s fastest growing financial wellness system with more than 4.5 million accounts, today announced a strategic partnership that will explore opportunities around editorial content and events. NBCUniversal and Comcast Ventures, the venture capital arm of NBCUniversal’s parent company, Comcast Corporation, will make an equity investment in Acorns. Additionally, NBCUniversal will receive a board seat, which will be filled by CNBC Chairman Mark Hoffman. Financial terms of the funding are not being disclosed.
“This partnership with Acorns builds on CNBC’s 30-year commitment to democratizing the financial markets, helping generations invest for their future,” said Hoffman. “We are excited to bring together two brands with this shared social purpose to drive value to our viewers, users and customers.”
With a joint focus on the importance of educating current and future investors, CNBC will hire a dedicated team to create financial literacy and personal finance content for Acorns platforms. In addition, CNBC will produce features for a cross-company financial wellness initiative “Invest in You: Ready. Set. Grow.” that will run across CNBC, NBCUniversal and Comcast platforms. Content production will begin immediately and continue to expand in the weeks ahead.
“We aim to put the tools of wealth making in everyone’s hands and this includes helping all Americans grow their money knowledge,” said Noah Kerner, CEO at Acorns. “Collaborating with the powerhouse that is CNBC will take these efforts to entirely new heights for our customers.”
Acorns helps America’s up-and-coming by automatically investing spare change from everyday purchases into diversified ETF portfolios. It also helps these customers grow their knowledge, earn extra money and save for retirement with the launch of Acorns Later, the first automated retirement account, which has welcomed nearly 350,000 investors who have invested $40 million to date.
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, and CNBC World, CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to 410 million homes worldwide, including more than 90 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, NJ, and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.
CNBC Digital delivers more than 55 million U.S. unique visitors each month. CNBC.com provides real-time financial market news and information to CNBC’s investor audience. CNBC Make It is a digital destination focused on making you smarter about how you earn, save and spend your money by zeroing in on careers, leadership, entrepreneurship and personal finance.
CNBC has a vast portfolio of digital products, offering CNBC content to a variety of platforms such as: CNBC.com; CNBC PRO, a premium service that provides in-depth access to Wall Street; a suite of CNBC mobile apps for iOS and Android devices; Amazon Alexa, Google Assistant and Apple Siri voice interfaces; and streaming services including Apple TV, Roku, Amazon Fire TV, Android TV and Samsung Smart TVs. To learn more, visit https://www.cnbc.com/digital-products/.
Members of the media can receive more information about CNBC and its programming on the NBCUniversal Media Village Web site at http://www.nbcumv.com/programming/cnbc. For more information about NBCUniversal, please visit http://www.NBCUniversal.com.
Acorns is the leading financial wellness system in the U.S. with over 4.5 million accounts. Its easy-to-use, mobile-first technology makes it simple for anyone to set aside and invest life's spare money. Acorns allows customers to automatically invest in a low-cost, diversified portfolio of exchange-traded funds offered by some of the world's top asset managers (including Vanguard and BlackRock). Customers grow their wealth in one of five portfolios constructed with help from world-renowned Nobel laureate economist Dr. Harry Markowitz. Acorns smart portfolio algorithms automatically work in the background of life, helping users build wealth naturally, pennies at a time. From Acorns mighty oaks do grow.
Acorns is accessed simply and easily via the app for iPhone, Android or desktop.
Visit Acorns.com for more.
Jennifer Dauble, for CNBC, firstname.lastname@example.org
Jessica Schaefer, for Acorns, email@example.com