tl;dr
Circle Internet Financial Ltd. is increasing its headcount in preparation for its upcoming IPO in the US, with plans to fill 140 more positions across various teams. The company has already hired 137 new employees, representing a 15% increase in headcount, and is expecting 24 more who have accepted ...
Circle Internet Financial Ltd. is increasing its headcount in preparation for its upcoming IPO in the US, with plans to fill 140 more positions across various teams. The company has already hired 137 new employees, representing a 15% increase in headcount, and is expecting 24 more who have accepted job offers.
Additionally, Circle has recently appointed new executives, including a Chief Accounting Officer and a Business Development Director for Exchanges. The firm previously attempted to go public via a Special-Purpose Acquisition Company (SPAC) in 2022, but the deal was terminated due to SEC delays. However, it has now officially filed for an IPO in the US in January 2024 and is awaiting the SEC's review.
Within the first half of 2024, the USDC stablecoin issuer said it increased its employee headcount by 15%. This percentage represents the 137 positions that were filled in the company between January to date. Circle has revealed that it has about 140 more positions to fill across its different teams including business development, engineering, and marketing.
Some of the new faces in Circle are its Chief Accounting Officer Tamara Schulz and Business Development Director for Exchanges Pierre Carras. They are both only about a month old on the job considering that they started in May.
On the other hand, Sterling Barnett who is now Circle’s director of business development, joined in April. He is charged with leading North American and European exchange partnerships for Circle.
For several years, Circle has mulled the idea of conducting an Initial Public Offering (IPO). It once attempted to go public through a Special-Purpose Acquisition Company (SPAC) in 2022. However, the deal did not go as planned. The deal, valued at $9 billion at the time, was terminated in December 2022. The firm cited the US Securities and Exchange Commission’s (SEC) delay in declaring the business registration statement effective. In Q4 2023, it began to make plans again to join the likes of Coinbase (COIN) in the public market.
By January 2024, it officially filed for an IPO in the United States. No specific details regarding the number of shares it plans to sell or the proposed price range for the IPO were revealed to the public. The SEC is yet to complete its review process as it has not provided a response to the stablecoin issuer on its filing. However, Circle’s decision to reapply underscores its determination to going public, as highlighted by its CEO, Jeremy Allaire.
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