Plaid, a fintech startup, has recently named Jennifer (Jen) Taylor, the former chief product officer of Cloudflare, as its first president. This move follows the hiring of Eric Hart, former Expedia CFO, as Plaid’s first chief financial officer, indicating a potential step towards an initial public offering (IPO).
Key Takeaway
Plaid, a leading fintech company, has appointed Jennifer Taylor, a seasoned executive with experience at Cloudflare, Salesforce, and Facebook, as its new president. This strategic move may indicate the company’s preparation for potential future growth and an initial public offering.
Experience and Background
Jennifer Taylor’s appointment is significant due to her extensive experience, including her tenure at Cloudflare, which spanned pre, during, and after the company’s IPO. Prior to her role at Cloudflare, Taylor held leadership positions at Salesforce, Facebook (now Meta), and Adobe, and also worked as a venture capitalist for two years.
Plaid’s Expansion and Growth
Originally known for connecting consumer bank accounts to financial applications, Plaid has expanded its services to include lending, anti-fraud, and payments. Despite a failed acquisition attempt by Visa, Plaid has continued to diversify its revenue streams and raised funding at a valuation of $13.4 billion. The company currently has 8,500 customers and over 1,000 employees.
Future Plans and Industry Impact
In a LinkedIn post, Taylor expressed her excitement about joining Plaid and overseeing teams across technology and product development. Plaid’s co-founder and CEO, Zach Perret, emphasized that Taylor’s experience in scaling products to meet customer demand will be invaluable as the company expands its platform to support ongoing innovation in financial services.
