Plaid has named Jennifer (Jen) Taylor, who maximum just lately served as Cloudflare’s important product officer, as its first president.
The walk is important in that it comes simply months nearest the fintech startup rented former Expedia CFO Eric Hart to handover as its first chief financial officer. The hiring of a CFO is a step generally simplest taken by way of firms which might be making plans to walk people.
In saying Taylor’s appointment, San Francisco-based Plaid identified that her just about seven-year tenure spanned pre, all through and nearest Cloudflare’s IPO — most likely signaling that Plaid itself is inching closer to an initial public offering (IPO).
Replace: A Plaid spokesperson advised TechCrunch post-publication: “I can confirm that an eventual IPO is a milestone we’re tracking towards, but we don’t have any details or a timeline to share beyond that. Jen will be a critical component of maturing our tech and product strategy as we continue to grow and evolve.”
In a LinkedIn post, Taylor wrote: “Super excited to share that I’ve joined Plaid as President, where I’ll be overseeing teams across tech + product building the network that will power the future of finance.”
Previous to becoming a member of Cloudflare, Taylor held high-level management positions at Salesforce, Fb (now Meta) and Adobe and had a two-year stint as a mission capitalist.
Plaid were given its get started as an organization that connects shopper storage accounts to monetary packages, however has since been progressively increasing its choices to additionally come with lending, anti-fraud and bills. The 11-year-old corporate was once nearly bought by way of Visa for $5 billion earlier than antitrust regulators close that trade in ailing. Plaid went on to lift investment at a $13.4 billion valuation nearest the deal fell through, and has labored to diversify its income streams since.
In a blog post, Plaid co-founder and CEO Zach Perret wrote that Taylor’s “experience scaling products to meet increasing customer demand will be invaluable” as Plaid continues to make bigger its platform “to support ongoing innovation in financial services.”
Plaid has 8,500 consumers and over 1,000 workers. Its backers come with a16z, Index Ventures, Altimeter, Silver Puddle, NEA, Kleiner Perkins, JP Morgan, Citi Ventures, Amex Ventures, Goldman Sachs and Spark Capital, amongst others.
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