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Goldman Sachs has acquired personal finance startup Clarity Money, which now has about 1 million users, for a sum that is reportedly in the high eight figures. Clarity Money's founder, Adam Dell, will join Goldman as a partner - a title rarely given to outsiders.
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But Clarity Money’s roughly one million users will quadruple Goldman’s customer base. In addition to Mr. Dell, about two dozen other Clarity Money employees will join the bank. Lacking a branch network, Goldman has partnered with tax-preparation software firm Intuit Inc. and Fidelity and has sent hundreds of millions of pieces of direct mail in an effort to draw customers.
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