Dave Extends its Partnership with Drew League, LA’s Pro-Am Basketball League

Rhea-AI Summary

Dave (NASDAQ: DAVE), a leading neobank, announced it is extending its partnership with the Drew League, Los Angeles' premier Pro-Am basketball league. This collaboration will now see Dave featured on all 2024 Drew League jerseys, in addition to the on-court placements from 2023. Both organizations share a mission to provide opportunities for youth success. Dave Founder and CEO, Jason Wilk, emphasized the shared passion for improving the local community and access to opportunities. Drew League commissioner, Chaniel Smiley, and Crossovr Collective Co-Founder, Steph Rawlins, highlighted the significance of this partnership in supporting and expanding resources for emerging talent and the community.

Positive

• Dave extends its prominent partnership with a significant local organization, enhancing brand visibility.
• Increased brand exposure through jersey placements can enhance brand recognition and customer base.
• Partnership aligns with Dave's mission to support underserved communities, potentially strengthening community ties and customer loyalty.

Negative

• No immediate financial benefits or quantifiable revenue impact mentioned.
• Focus on community engagement, while positive, may not directly translate to short-term financial gains.

LOS ANGELES, June 03, 2024 (GLOBE NEWSWIRE) -- Dave (NASDAQ: DAVE), one of the nation's leading neobanks, announced an extension of its official partnership with the Drew League, Los Angeles' premiere Pro-Am basketball league.

Dave will now be prominently featured on all 2024 Drew League jerseys in addition to the on-court placements from 2023.

Dave chose to partner with Drew League because of their shared missions to provide opportunities for young people to succeed and give them the tools they need to create change in their lives. While The Drew League levels the playing field on the court, Dave is leveling the financial playing field for millions of underserved Americans across the country.

Dave Founder and CEO, Jason Wilk, said, "As a Los Angeles-based company, Dave and Drew League share a passion for improving our local community and improving access to opportunity on and off the court."

Drew League commissioner, Chaniel Smiley said, "The Drew League has been creating opportunities for emerging basketball talent in South Central Los Angeles for 50 years and we're proud to partner with Dave this season and next. Dave and Drew League have a shared passion for improving this community, while increasing access and visibility for all."

Crossovr Collective Co-Founder, Steph Rawlins, The Drew League's media, marketing & brand agency who coordinated the partnership said, "Having a brand partner like Dave is really special and important, because not only do they see the value of the brand, but they also understand the importance of making sure local entities like The Drew are supported so that they can continue to exist, and be a staple to the community for another 50 years. Partnerships like this allow The Drew to expand their resources and opportunities it offers its youth, through the Drew League Non-Profit, the players and other members of the community."

About Dave:
Dave (NASDAQ: DAVE) is a leading U.S. neobank and fintech pioneer serving millions of everyday Americans. Dave uses disruptive technologies to provide best-in-class banking services at a fraction of the price of incumbents. Dave partners with Evolve Bank & Trust, member FDIC. For more information about the company, visit: www.dave.com. For investor information and updates, visit: investors.dave.com/ and follow @davebanking on Twitter.

About Drew League:
Since 1973, Drew League has brought local kids, streetball legends and professional stars together in Los Angeles–all for the love of basketball. The rich legacy includes the original founding father, a visionary commissioner, veteran coaches, three different gyms and countless magical moments. For 50 years, The Drew League has been a remarkable success story that began in South Central Los Angeles and still continues to flourish within the exact same community. For more information, please visit: www.drewleague.com.

Media Contact
Dan Ury
press@dave.com

Investor Relations Contact
Sean Mansouri, CFA
Elevate IR
DAVE@elevate-ir.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45715505-1e2d-4bf5-b909-455ed1682528

FAQ

What is the significance of Dave's extended partnership with the Drew League?

Dave's extended partnership with the Drew League enhances its brand visibility by featuring prominently on all 2024 Drew League jerseys, aligning both organizations' missions to provide opportunities for youth success.

How will Dave be featured in the 2024 Drew League?

Dave will be prominently featured on all 2024 Drew League jerseys, in addition to the on-court placements from 2023.

What are the benefits of Dave's partnership with the Drew League?

The partnership strengthens Dave's brand visibility and aligns with its mission to support underserved communities, potentially enhancing customer loyalty.

Who commented on the partnership between Dave and the Drew League?

Jason Wilk, Dave's Founder and CEO, Chaniel Smiley, Drew League commissioner, and Steph Rawlins, Crossovr Collective Co-Founder, commented on the partnership.

What shared mission do Dave and the Drew League have?

Both Dave and the Drew League aim to provide opportunities for young people to succeed and create positive changes in their lives.