Juno (C): Leveraging Student Power
In May 2020, Juno co-founders Chris Abkarians and Nikhil Agarwal decided to hold the annual auction for their student loan assistance startup. Five lenders submitted bids, and the co-founders ultimately opted to select Eager Bank as their partner for the 2020-2021 academic year for fixed-rate loans. However, a significant portion of Juno's membership expressed interest in variable-rate loans, prompting them to seek out another partner for the variable-rate product. They secured a deal with a major private lender through an intermediary, but are forced to quickly adapt their strategy when the lender refuses to pay for Juno's loan volume. The case concludes with the co-founders considering whether Eager Bank might be a potential long-term partner, and once again wondering whether they should make changes to their auction-based strategy for the coming year.
- 2021 HBS
- Book Quality:
- Harvard Business Publishing
- Date of Addition:
- Business and Finance, Nonfiction,
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- This is a copyrighted book.
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