Joint Statement From Greenwood and The Gathering Spot

ATLANTA--(BUSINESS WIRE)--Greenwood and The Gathering Spot today announced jointly that they have resolved their outstanding business disputes and will continue to uplift Blacks and minorities by building community and supporting financial freedom around the country.

“Greenwood was founded to support financial freedom and economic prosperity for the Black community, and we acquired The Gathering Spot last year to combine forces towards this common mission,” said Ryan Glover, CEO & Co-founder of Greenwood. “We are ready to finish what we started, in the same spirit that we began with and continue to build and grow our community," said Ryan Wilson, CEO of The Gathering Spot.

Greenwood, the financial technology company for Black and Latino individuals and business owners, and The Gathering Spot, a private membership network focused on the Black community, share the same mission of supporting financial freedom for minorities through community building, entrepreneurship, group economics and wealth building. The Gathering Spot will continue to operate as an independent subsidiary of Greenwood under the leadership of its co-founders, Ryan Wilson and TK Petersen. Together, they will continue to deliver features including community building, personal finance content, and banking services.

“No one wins when the family feuds. We apologize for distracting our communities over the last week as this became a topic of so much public discussion. As we work together to build for our community and customers, we will continue to hold ourselves to the highest standards,” said both Ryan Glover and Ryan Wilson.

Even though business disputes are common in corporate transactions, Greenwood and The Gathering Spot are pleased to put this issue to rest and move forward. Terms of the agreement were not disclosed, but both Greenwood and The Gathering Spot are satisfied with the outcome and look forward to continuing to champion inclusive economic growth and community. The settlement marks the end of a period of friction between the two companies and opens a new chapter of collaboration and shared visions.

Greenwood and The Gathering Spot both appreciate the community’s engagement, and both organizations have an even greater commitment and resolve to empower communities and create community-based platforms that foster growth, innovation, and connectivity. With the settlement now in place, both organizations will continue their efforts together to foster economic empowerment, inclusion, and community engagement.

About Greenwood

Greenwood is the digital banking platform for Black and Latino individuals and businesses. Greenwood’s mission is to support financial freedom for minorities through community building, career advancement, and financial services. Greenwood’s flagship product is a best-in-class digital banking service provided by partnering with FDIC-insured banks. Greenwood Inc, includes The Gathering Spot, a private membership network and Valence, the career development and job recruiting platform. The combined community has over 1 million people. Greenwood’s founders include civil rights leader, Andrew J. Young, Ryan Glover, founder of the Bounce TV Network, Dr. Paul Judge, and music artist and activist, Michael Render also known as, "Killer Mike." Greenwood has raised funding from six of the largest banks including Citi, JPMorgan Chase, PNC and Truist, as well as other companies including Pendulum, TTV Capital, Mastercard, and Visa.

About The Gathering Spot

The Gathering Spot is a private network that provides minority professionals, creatives and entrepreneurs with access to the network, exclusive content, unique experiences, concierge services, and access to The Gathering Spot flagship club locations that include working space, event space and restaurant and bar. The Gathering Spot clubs are located in Atlanta, Washington DC, and Los Angeles, as well as Connected City communities in New York City, Chicago, Detroit, Charlotte, and Houston.