Startups Beef Up Financial Staffs To Prep For SPAC IPO Path
Startups, which are raising an abundance of cash, are moving to hire more chief financial officers (CFOs), The Wall Street Journal (WSJ) reported.
Usually, startups would have just a few dozen employees and would be looking to stay light-footed, keeping their payrolls less burdened in their first few years, according to WSJ. Many would delay hiring CFOs until they became more robust organizations and had more of the means to do so.
But now, balance sheets have been rising quickly, and special purpose acquisition companies (SPACs) have given a new route with which to go public, WSJ reported.
So, many newer companies have been looking for CFOs earlier than they would have been. The number of CFO appointments for U.S. startups that have raised between $10 million and $100 million ...