The Investment Management Division of Goldman Sachs announced Monday morning that it will acquire Austin-based Honest Dollar. Terms of the deal were not disclosed. The company will remain in Austin, and the deal is expected to close in the second quarter.
This is another big moment at SXSW 2016 for William Hurley, who goes by Whurley. The CEO of Honest Dollar brought President Obama to town for an democratic fundraising event at Austin Music Hall and he said he had private discussions with the President about innovations — and other things that he can’t share.
Whurley also served on a number of panels. On Saturday he sat on the Regulation vs. Innovation panel at the Austin Chamber of Commerce where he talked with former Mayor Will Wynn and City Councilwoman Ann Kitchen and Meg Merritt, executive director of operations for RideScout, talking about the need for government and tech companies to work together and figure out a solution.
Honest Dollar raised $3 million in seed funding in 2015 and helps small and medium-size business employees, 1099 employees and self-employed workers sign up for retirement savings. The company partnered with Lyft to provide drivers retirement plans for $1 per month for the first 10,000 drivers, and $3 per month after that. Once an employee is signed up, Honest Dollar asks them a series of questions and gives them six portfolios to choose from.
Whurley cofounded Chaotic Moon in Austin, which was acquired by Accenture and also worked with Apple and IBM. He has also received an Apple design award and an International Genius Grant by the Appsterdam Foundation in Amsterdam.