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Voyager's Reward Program Lost $58M in 2022: Court Filing

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Court filings show investvoyager's high-yield rewards program was a massive cash burner, losing $58 million in 2022. thesamreynolds reports.

, was run at a loss to the company almost every month since its inception.

Voyager executives voiced concerns about the significant loss in providing users high yield as part of its rewards program, according to court filings published late Tuesday. The executives said they viewed the reward program cost as a marketing expense necessary for user acquisition, the filings say. In November 2021,as the mechanism that pushed them over the 1 million account mark.

 

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