Beam is a mobile bank account that aimed to pay 200x more than your average savings account. The company describes itself as the "first mobile high-interest savings account for the 99%."In March 2021, Beam was shut down for good under a tentative settlement with the Federal Trade Commission after a CNBC investigation revealed dozens of customers were unable to get their money out.
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Latest Beam News
Sep 6, 2022
Lachlan AllenGeraldton Guardian Camera Icon Share to Facebook Copy the Link They could be seen everywhere at the weekend — either being ridden or strategically scattered around the city waiting to be used and reused. The start of Beam’s purple e-scooter trial has been hailed a success, with spokesperson Stuart O’Callaghan revealing more than 13,000km was travelled on the devices around Geraldton over the launch weekend. “We’re really pleased to see the demand for shared micromobility in Geraldton ... trips were particularly high on Saturday afternoon, and during the day on Sunday,” he said. “The most popular hotspots were Dome Cafe, the foreshore Jaffle Shack, Bluff Point Deli and AJ’s Beach Cafe.” Given the green light by the Geraldton council, Beam’s 15-month trial involves 300 purple e-scooters, which can be unlocked for use on the company’s app for $1 and then $0.49 for every minute after. Beam says its scooters have a raft of safety features, including a “geofencing” GPS navigation system — which makes the scooters slow down in certain areas or not enter at all — QR codes to track riders, triple braking, a double kickstand for anti-tipping and a warning bell. It also warns that people who repeatedly abuse the system or the e-scooters could be banned under a “three-strikes policy”. Mayor Shane Van Styn was confident Beam would run a smooth operation and was impressed with the quality of its e-scooters. “These are a very robust, well-built piece of equipment, that will provide a much safer, much smoother ride than mine,” he said.
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Beam Frequently Asked Questions (FAQ)
Where is Beam's headquarters?
Beam's headquarters is located at 1540 Market St, San Francisco.
What is Beam's latest funding round?
Beam's latest funding round is Dead.
Who are the investors of Beam?
Investors of Beam include IDG-Accel and 500 Global.
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