As financial advice is not something just anyone can give you, an increasing number of people are having difficulty managing their money. With NerdWallet, the difficulty of finding solutions to all of your financial questions can be easily solved.

NerdWallet is a well-known financial advisor in the United States. It offers financial guidance and tools for insurance, loans, mortgages, taxes, credit cards, and other financial goods.

As an online financial platform created in 2009, NerdWallet has assisted customers in making all their appropriate financial decisions. It offers clients individualized and impartial advice and solutions.

The most crucial thing for a customer is to find someone they can trust, so Tim and Jacob launched NerdWallet with a clear goal in mind: to ensure that clients make all the right money moves.

Stick around and read the inspiring story behind NerdWallet, the platform that cut the chase to manageable financial knowledge.

Childhood Aspirations

Childhood is the most beautiful part of every person's life. The early years are very important when it comes to the intellectual and moral formation of the individual.

Tim was raised in America in a loving family. Tim was one of these children who always wanted to be the best in everything, and as he was growing up, he was becoming more and more independent. His interests were mainly connected to economics, and after he completed his secondary education, Tim moved to Stanford to start his studies.

Jacob Gibson, usually known as Jake, was born and raised in the United States. He wasn't the typical kid who liked to spend the entire day outside playing. Instead, Jacob preferred to solve math problems. Math became his love as he grew older. As a result, Jacob became highly motivated to attend a prestigious university.

The Profesional Years of Two Ambitious Guys

Tim Chen and Jacob Gibson worked in various fields and lived distinct lifestyles before founding NerdWallet.

Tim began his education at Stanford University, a private research university in Stanford, California. He earned himself a Bachelor's degree in Economics from Stanford.

After graduating, Tim worked as a fund equity analyst focusing on payment processing and technology firms until founding NerdWallet in 2009. Tim briefly worked at Credit Suisse First Boston as an equity research analyst. Moving ahead, he then worked as a hedge fund analyst at Perry Capital, where he dealt with payment processing and technology businesses.

Tim created NerdWallet after being laid off, and his life took on a new meaning.

Jake Gibson, on the other hand, studied math and quantitative finance at MIT and worked at JPMorgan Chase as an interest rate derivatives trader. Jacob spent a long time at JPMorgan, where he was in charge of innovative automated trading technologies.

Jacob became the co-founder and advisor of NerdWallet after bonding with Tim.

Opening Up the Wallet

Tim was laid off on Christmas Day, which left him jobless. While attempting to find new employment, Tim received mail from his sister. She asked him to assist her in locating a credit card that offered cheaper transaction costs.

And with nothing else to do, Tim decided to help her and started searching. But shortly after he began his research, Tim was startled to find that there wasn't much information regarding credit cards on the internet.

Everything he found was promotional material and marketing information, but nothing specific to address the issue at hand. Because he was unemployed, Tim had a lot of free time. Dedicated, Tim spent the following week professionally researching the banks and credit companies to compile a list of options for his sister.

While researching, Tim noticed that the information he was finding was not understandable and it was impossible to compare products. The sites were not offering much, and the texts available were written in professional terminology, making it hard for regular people to understand what was going on.

Tim realized that he wanted greater simplicity and openness like the rest of us. As a result, the only method to make card comparison easy was to build his own website. Then, Tim was struck by an idea. The idea quickly gained a name, a name which is still well-known and popular today - NerdWallet.

Enlarging the Wallet

The decision to create a website was a great thought, but another struggle occurred - how to launch a website when Tim was unemployed? Hopeful that the $800 he owned and working from his Manhattan apartment would suffice, Tim launched NerdWallet.

NerdWallet was developed to provide information on the advantages and disadvantages of financial services and professionally produced articles published by financial journalists. However, the start was rough, and much work was to be done. Even though Tim worked very hard almost every day, he needed someone to help him.

It was at that moment that Tim bonded with Jacob Gibson, the co-founder of NerdWallet. They were giving their best to expand NerdWallet and to earn money, but unfortunately, in the first year, the duo only made $75.

Tim was forced to move into his girlfriend's apartment to save money. NerdWallet produced $60,000 in income in its second year, which was an improvement but not a fortune. All this happened because of the financial crisis's bleak economic prognosis.

The number of visitors to the NerdWallet platform has steadily climbed since 2010, and by March 2014, the site had surpassed 30 million users. NerdWallet then raised $64 million in its first round of funding, valuing the company at $500 million.

Everything was running nicely, and NerdWallet was growing at a rapid pace. But, unfortunately, the company's growth stalled in 2017 due to 11 staff layoffs.

In 2020, NerdWallet expanded its presence in the United Kingdom. NerdWallet purchased Know Your Money, a company that offers a comparable set of comparison and information features to UK residents. NerdWallet also bought Fundera, a small business loan marketplace, in 2020.

Lastly, in 2021, NerdWallet became a partner with Inclusiv, a nonprofit network of credit unions dedicated to community development. As a result, NerdWallet has pledged to transfer millions of dollars to local credit unions to promote financial justice.

Going Public, All in!

NerdWallet is a website that focuses on personal finance questions that are too difficult for most people to answer. NerdWallet's business model differs from those of other sites in that it is funded through affiliate commissions. Every signup earns the company money from financial institutions.

In contrast to other similar companies such as SPAC, BuzzFeed, and Vice, NerdWallet is opting for a standard initial public offering. After the pandemic-era spike, NerdWallet's sales climbed 32% in 2021, which is likely one of the reasons it initially sought a $5 billion valuation. With the experts' predictions, NerdWallet would have been worth more than BuzzFeed ($1.7 billion) and Vice ($3 million).

Even though some analysts and experts expected a $5 billion valuation for NerdWallet, the firm published its IPO conditions in October, valuing the company at $1.2 billion.

The Future Will Bring New Projects

The IPO valuation of NerdWallet was not what experts were hoping to see, but that doesn't make NerdWallet less motivated to accomplish its future plans and ambitions.

Tim and Jacob's mission always was and still is to provide clarity for all of life's financial decisions a person, couple, student, or family can make.

Today, NerdWallet is headquartered in San Francisco, California, employing over 380 people, all tirelessly working toward delivering the best financial services and advice.

According to the NerdWallets team of experts, loan brokers, insurance companies, and financial advisors' services will rapidly transition online in the coming years, expanding their market.

NerdWallet's SEO techniques will be expanded in the future since the site now receives millions of monthly views due to the SEO campaign's high-quality content.

NerdWallet's purpose is to provide transparent financial information to their consumers and make their lives easier by assisting them in making wise financial decisions.

So, whenever you're caught in the gloomy doubtfulness of making the right financial move, turn to NerdWallet and deal with your finances like a sir!