Hello Chimers, How y'all doing? is the valuation still same as per this: https://www.cnbc.com/2022/05/17/chime-disruptor-50.html#:~:text=Chime%20experienced%20torrid%20growth%20during,Global%2C%20and%20Dragoneer%20Investment%20Group. Are you still hiring? Do you still see same rate of customer growth, or its same as happened to other fintechs like AFRM, UPSTART, etc #chime #pre-ipo #fintech TC: $170k
The valuation will be consistent until they need to do financing activity, like how Stripe and Instacart are currently out in the market. And even then, markdowns are going to be underwhelming
It'll be a long ass time before we need to raise. We're sitting on a ton of cash and we could be profitable with lower marketing burn.
Chime going to the ππ
What OMG LAYOFF said. Still hiring but at much slower pace. Departures are not being backfilled unless critical. We have had minor reductions in force (<50 people) but do not anticipate layoffs. Who knows if that will change.
Name one fintech whose valuation (public or private) didn't go down from the Nov '21 peak... We're doing alright but yeah hiring at a slower pace. Also JFYI, our business model is different from affirm and upstart
Yes, no or no
If you have an offer from Chime giving $N worth of RSUs at $25.5B, Iβd say discount it by 50% (conservative) to calculate your offer.
Are you just rubbing it in?
Sounds like it
Apologies, If it sounded like this. I am asking genuinely on how the company is doing compared to other fintech