Synapse, a San Francisco-based financial tech startup, lays off 18% of staff as its CEO announces the company just turned its first profit.
A spokesperson confirmed the layoff round would include 44 employees.
Synapse, which calls itself a “banking-as-a-service” company, connects financial technology firms with its traditional bank partners. With the “sponsor” banks’ resources and services, Synapse helps companies launch financial products, such as payments, deposits and investments, and says more than 18 million people have used its products.
The firm has raised about $50 million in funding since its founding in 2014, with backing from Silicon Valley venture capital stalwarts like Andreessen Horowitz and 500 Global. Pathak said in his buzzword-packed post Wednesday that Synapse had recently achieved profitability and that the layoff round will “reduce and restructure our team in areas that were staffed for unrealized growth or redundancy.”
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
The best things to do this weekend in San Diego: June 15-18Here are some of the best things to do in San Diego County this weekend, including several film festivals, live music, night fishing, pride events, food festivals and much more
Lire la suite »
Newsom touts CHP fentanyl seizures in San Francisco since May start to operationA deadly dose of fentanyl can be as little as 2 milligrams, according to federal authorities. San Francisco had more than 620 accidental overdoses last year.
Lire la suite »
Cargo up at Port of LA as labor secretary is dispatched to San Francisco for negotiationsGene Seroka, executive director of the Port of LA, said on Tuesday he hopes the second half of 2023 will be better than the first half.
Lire la suite »
One earthquake can put San Francisco’s Millennium Tower in danger, engineer saysThe Millennium Tower in California, years the subject of controversy for sinking and leaning, could see trouble if the Hayward Fault Zone triggers a quake.
Lire la suite »
Photos: San Francisco's cable car system turns 150Celebrate San Francisco's150th anniversary of cable cars with KTVU by viewing this special photo gallery of the famed transport.
Lire la suite »
Early-morning San Francisco Tenderloin District shooting leaves 1 deadA shooting in San Francisco's Tenderloin District left a person dead early Tuesday morning,
Lire la suite »