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JPMorgan shuts down Frank, 'Amazon for college', sues founder over faked users
- hunglee2 4y agoall 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
- sizzle 4y agoThey 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 https://www.documentcloud.org/documents/23570243-frank_suit
- fatnoah 4y ago> 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.
- sizzle 4y agowhat if they bought real email addresses instead?
- fatnoah 4y agoIn 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.
- sizzle 4y agoJP Morgan lawsuit filing here: https://www.documentcloud.org/documents/23570243-frank_suit https://www.documentcloud.org/documents/23570243-frank_suit
- readonthegoapp 4y agothe chief fake user growth officer says on his linkedin that he is 'enjoying whatever comes next'. that true? https://www.linkedin.com/in/olivieramar/ https://www.linkedin.com/in/olivieramar/
- sizzle 4y agoSounds like jail is coming next for this stunt they pulled