Online lender, SoFi, has made a last-minute edit to its Super Bowl commercial. The startup received criticism for the final line in its ad, "Find out if you're great atSoFi.com. You're probably not." The final edit dropped, "You're probably not."
The San Francisco-based alternative lending startup is splashing out 20% of its annual budget on the big game in the hopes of becoming a household name. The 30-second Super Bowl spot, which cost around $5 million, will air during the second quarter of the game on Feb. 7 on CBS. The spot is the major highlight of a broader $20 million ad campaign introducing SoFi’s brand to the mass market. SoFi is run by CEO Mike Cagney, a former Wells Fargo executive and specializes in refinancing student loans for qualified millennials as well as personal loans. It also expanded into mortgages last year when it became one of a few startups to raise a billion-dollar financing round, led by Softbank.