A Simple Farewell
Simple announced that BBVA is shutting them down after 11 years of operation, and 6 years after they acquired them.
Simple is high on the list of consumer web products I’ve cherished over the last decade. I learned so much about customer service, company culture, and how an acquisition can cause the unfortunate slow death of a company and its ethos.
It wasn’t all great, though. The last few years have been painful — botched migrations, outages poorly communicated, and customer service lines that were overloaded and pushed customers away instead of welcoming them in.
Still bummed to see them go. Making the switch to.. Chase? :(
Watershed moment. The original challenger bank demonstrated the art of the possible. @simple showed us all what an elegant, transparent & intuitive consumer banking experience should look like. Changed the industry. Thank you @simple https://t.co/pxYN067LpM— Peggy Mangot (@peggymangot) January 7, 2021
Our first mission statement was to help people worry less about money. It morphed to ‘help people feel confidence’. Either way, we wanted to help people. https://t.co/78G9mWDH6u— Josh Reich (@i2pi) January 7, 2021
Simple set the bar for thoughtful design in consumer banking, both brand and product. At Banno in 2011 when we were building a mobile banking app for community banks while some of them weren't sure the iPhone was going to stick around, Simple kept raising this bar.— Josh Sadler (@joshsadler) January 7, 2021
RIP @simple <3— Jack DeFuria (@defuria) January 8, 2021
At 13, @i2pi was generous enough to let me tag along their first year. My time at Simple is one of my fondest memories—the team taught me how to think and inspired me to become a founder. Thank you @i2pi @shamir_k @adamerlebacher @0x00B1 @tomwans @kristi_berry pic.twitter.com/MFhPAgYe3W
1/10: One of the things I am proudest of was how @i2pi and I handled the Simple sale to BBVA. Out of the $117M sticker price, $14.6M in cash was paid out to 100 employees excluding founders.— Shamir Karkal (@shamir_k) January 8, 2021