(1) We have great respect for Dan Gilbert’s circle of power. Here at The Basis Point, we’ve been calling Rocket’s new O the “circle of power” instead of magic O, for two reasons: The rocket ship in the logo was replaced by what Quicken Loans CEO Jay Farner called “the magic O,” which is a red open-bottomed O in the word ‘Rocket’ that enables them to be creative with brand promos by placing topical things inside the O. When they launched Rocket’s new branding January 31, 2019, they refined the Rocket logo to a modern, clean look that can apply to all finance and real estate services, including Rocket Mortgage for home loans, Rocket Homes for home buying/selling services, Rocket Loans for personal loans, and Rocket HQ for credit report and financial advice. It looks like a very logical progression toward Rocket replacing Quicken Loans-maybe sooner than we think. Meanwhile they invest about half a billion per year to fuel the Rocket brand, and now we’ve got this week’s Rocket branding move with the Cavs arena, which Gilbert also owns. In 2002, Gilbert bought the company back from Intuit but has kept licensing the Quicken Loans brand from Intuit all these years. Quick history on the Quicken Loans brand:ĭan Gilbert founded the company as Rock Financial in 1985, sold to Intuit in 1999, and adopted Intuit’s Quicken branding to become Quicken Loans. #Quicken loans wholesale fullThe new name is Rocket Mortgage FieldHouse, and this may very well bring Quicken Loan’s branding journey full circle. So it’s no surprise the $185 million remodeling of Cleveland Cavaliers arena-known as Quicken Loans Arena until now-will launch with Rocket branding. Quicken Loans launched Rocket Mortgage in November 2015, spent billions since then building the Rocket brand, unseated Wells Fargo last year as America’s top retail mortgage lender, redid the Rocket brand this year, and rolled up all consumer finance divisions of the company into Rocket-named brands.
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