As you have certainly heard in the news, Silicon Valley Bank (SVB), the leading financial institution for venture capital-funded tech companies, and one of Own’s banking partners, was closed by regulators on Friday, March 10. Let me reassure you that while SVB was a banking partner, our business operations have not been adversely affected.
We are currently in control of all of Own’s assets, and there is no risk to our current or ongoing operations. If you are an Own customer with a pending invoice, you will receive communications this week with updated payment instructions.
For those customers and vendors who may have been affected, please let us know how we can best support you during this time. We will continue to be transparent with you about any new developments, and I thank you for your continued support of Own.
Thank you,
Sam Gutmann
CEO
