JPMorgan shuts down Frank, 'Amazon for college', sues founder over faked users

fastcompany.com

14 points·sizzle··8 comments

all the users are fake? I thought at least 300,000 were on the db, with 4 million or so being scraped. Crazy that low open rate from a mass mailing campaign was a signal that something was amiss. JP Morgan do more due diligence on $1K loan than they did with this $175 million acquisition, craziness

They paid a college data science professor to generate 4 million fake users.

Here is the lawsuit, grab your popcorn: https://www.documentcloud.org/documents/23570243-frank_suit

> Crazy that low open rate from a mass mailing campaign was a signal that something was amiss

It was an extremely high bounce rate (i.e. invalid emails) that clued them in.

what if they bought real email addresses instead?

In that case, I'd expect that bounce rate wouldn't have been a big clue, but it's also possible that some of the owners of those real addresses would have replied in a way that indicated they weren't actual customers. One never knows.

JP Morgan lawsuit filing here: https://www.documentcloud.org/documents/23570243-frank_suit

the chief fake user growth officer says on his linkedin that he is 'enjoying whatever comes next'.

that true?

https://www.linkedin.com/in/olivieramar/

Sounds like jail is coming next for this stunt they pulled

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