Snell & Wilmer Advises Fintech Startup Greenwood in Acquisition of ValenceJune 22, 2022
SAN DIEGO – Snell & Wilmer advised Greenwood, Inc. (Greenwood), a digital banking platform for Black and Latino individuals and business owners, in its acquisition of Valence, the leading platform that connects, showcases, and empowers the Black professional community through their recruitment and professional development products. This follows Greenwood’s recent acquisition of The Gathering Spot, a private membership network focused on the Black community.
“This is a powerful moment in Black business history where we are combining three of the strongest communities focused on Black professionals and their career and financial needs,” said Ryan Glover, Co-founder & Chairman at Greenwood in a company press release. “Adding the Valence platform to the benefits of Greenwood membership means we are supporting, educating, and we are connecting Black community directly to the job opportunities they need to grow their career and build generational wealth. By working together, we are laying the foundation for the future success of Black people for years to come.” This acquisition is expected to provide Greenwood’s community of nearly one million Black professionals with access to tens of thousands of job listings and career opportunities through the Valence Pipeline recruiting database.
Bardia Moayedi led the Snell & Wilmer team advising Greenwood in the deal. The diverse team included Sarah Hibbard and Carmen B. Gilbert (corporate), Greg Gautam (employee benefits), and Bahar A. Schippel (tax).
Snell & Wilmer’s mergers and acquisitions attorneys are well-versed in providing strategic, innovative legal and business services for complicated corporate transactions. They have extensive experience with transactions in a variety of industries, including highly regulated industries where the intersection of business and government requires a particularly strategic and risk-sensitive approach. Their experience, coupled with deep industry knowledge, allows them to provide thoughtful, innovative and comprehensive solutions for all of their clients. Snell & Wilmer’s clients include sellers, buyers, investors, banks and bankers, venture capital firms, private equity firms, institutional lenders, independent directors and committees, management groups, creditors and creditor committees.