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Fintech Brex abandons co-CEO model, talks IPO, cash burn and plans for a secondary sale

Pedro Franceschi will serve as sole CEO of fintech Brex while Henrique Dubugras becomes chairman of the board.

United statesMichael tannenbaumHenrique dubugrasCosmin nicolaescuCamilla moraisPedro franceschiKleiner perkinsKarandeep anandAmerican expressFounders fundSan francisco basedStone pagamentosGreenoaks capitalTiger global managementGlobal founders capital

Meet the CTOs from +$10 bln companies at Techsylvania 2024

Meet the CTOs from +$10 bln companies at Techsylvania 2024
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Cluj napocaDaniel hulmeShai shalev shwartzOana petruCosmin nicolaescuPanel discussionsEastern europeAwaits youMatchmaking areaExecutive roundtablesEarly bird pricesVlad ciurc

Source: Brex told employees it is cutting 282 jobs, or about 20% of its staff, saying it grew too quickly and its CTO and COO are giving up their positions

Brex is cutting 20% of its workforce and shaking up senior management ranks in a new effort to slash its cash burn, as the fintech firm grapples with slower…

Michael tannenbaumCosmin nicolaescuChief operating officer michael tannenbaumChief technology officer cosmin nicolaescuReaking news

Brex cuts 20% of staff amidst reports of stalled growth, high burn

Expense management startup Brex, which was valued at $12.3 billion two years ago, laid off 282 people, or about 20% of its staff today. The once high-flying fintech startup sent a note to employees (that was also published on the company’s website) today, announcing the news. In addition, Brex announced that its COO, Michael Tannenbaum, is transitioning from his role to become a board member.

Henrique dubugrasJason mokPedro franceschiCosmin nicolaescuMichael tannenbaumCamilla moraisAndreessen horowitzSilicon valley bankMesh paymentsPedro franceschi

Brex cuts 20% of staff amid reports of stalled growth, high burn

Expense management startup Brex, which was valued at $12.3 billion two years ago, has laid off 282 people, or about 20% of its staff today.

Pedro franceschiAndreessen horowitzCamilla moraisCosmin nicolaescuJason mokHenrique dubugrasMichael tannenbaumSilicon valley bankMesh payments

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