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Founder hustle gone too far
JP Morgan acquired financial planning platform Frank in 2021 to gain access to its audience of 4M+ college students.
But it turns out that the vast majority of those users were fake — Frank’s founder allegedly created nearly 4M bogus accounts right before the sale.
What had JPM hoped to achieve with the purchase?
Dharmesh Shah, co-founder of HubSpot, sums up the sentiment behind these moves well with this tweet.
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