connect the dot

Organization

Loopt

Mobile location-sharing company co-founded by Sam Altman in 2005; in Y Combinator's first batch; bought by Green Dot in March 2012.

6 links, 6 backed by primary records

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Dates
2005 – Mar 2012
Also known as
Loopt, Inc.
Over time
  1. Active 2005 – Mar 2012
  2. CEO Sam Altman 2005 – Mar 2012

Connections 6

founded by

CEO

investors

  • Y Combinator 2005 seed funding in its first batch (summer 2005) Primary record 34

    Loopt was in the first group of eight startups Y Combinator funded, in summer 2005, at $6,000 per founder.

  • New Enterprise Associates Primary record 56

    Loopt named Sequoia Capital and New Enterprise Associates as its backers; its 2008 board included Greg McAdoo of Sequoia Capital and Patrick Chung of NEA.

  • Sequoia Capital Primary record 56

    Loopt named Sequoia Capital and New Enterprise Associates as its backers; its 2008 board included Greg McAdoo of Sequoia Capital and Patrick Chung of NEA.

acquired by

  • Green Dot Mar 2012 $43.4M Primary record 27

    Announced on 9 March 2012 and completed that month. The $43.4 million included about $9.8 million set aside to retain Loopt staff; the shares cost about $33.6 million.

Timeline 5 dates
  1. 2005 – Mar 2012 Loopt
  2. 2005 Sam Altman founded Loopt
  3. 2005 – Mar 2012 Sam Altman CEO of Loopt
  4. 2005 Y Combinator invested in Loopt
  5. Mar 2012 Green Dot acquired Loopt
Proof 7 sources
  1. Green Dot Corporation 2014 proxy statement (Schedule 14A), Green Dot, 10 Apr 2014. Primary record
    Prior to joining Green Dot, he co-founded Loopt, Inc., a provider of mobile location-based services, in 2005 and served as its Chief Executive Officer until it was acquired by us in March 2012.
  2. Green Dot to Acquire Loopt (press release, Exhibit 99.01 to Form 8-K), Green Dot, 9 Mar 2012. Primary record
    Loopt co-founder and CEO Sam Altman stated, “It's been exhilarating to see mobile become such a critical part of our collective daily lives.
    Green Dot will pay total consideration of $43.4 million in cash for the company, which includes approximately $9.8 million to be set aside as a retention pool for key Loopt employees.
  3. Sam Altman’s Manifest Destiny, The New Yorker, 3 Oct 2016. Scholarship & press
    The first group of eight companies—which included a mobile app, Loopt, founded by Sam Altman and two friends—got six thousand dollars per founder
  4. Loopt (Y Combinator company page), Y Combinator. Primary record
    Batch: Summer 2005
  5. Loopt: company overview, Loopt, 2008. Primary record Archived copy
    Loopt, based in Silicon Valley and backed by leading venture capital firms Sequoia Capital and New Enterprise Associates
  6. Loopt draws on $8.25 million of a $12M planned second round, VentureBeat, 23 Jul 2007. Scholarship & press Archived copy
    Return backers include New Enterprise Associates and Sequoia Capital.
  7. Green Dot Corporation annual report for 2012 (Form 10-K), Green Dot, 1 Mar 2013. Primary record
    In March 2012, we acquired Loopt, Inc., or Loopt, for approximately $33.6 million in cash in exchange for all of its outstanding shares.
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