RadioOnFire.com - RushCard, the Russell Simmons-founded prepaid debit card company, is being bought by rival Green Dot for $147 million.
On Monday, Green Dot announced it would buy UniRush, the parent company of RushCard. Russell Simmons founded RushCard in 2003. It was one of the first prepaid card services to advertise directly to customers who are minorities.
Green Dot CEO Steve Streit said that they're buying RushCard in large part for Russell Simmons' name recognition. "Having his name associated with RushCard is a big reason why we are buying it," Streit said.
Source: billboard.com
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