By now you’ve heard the massive cash information: Atlanta-based fintech firm Kabbage has been acquired by American Categorical.
There are all kinds of implications right here, and also you’re prone to see a number of media — native and nationwide — masking this story within the days and weeks to come back. However moderately than take a look at it from a pure information standpoint, keep in mind that there are quick and long- time period impacts.
We don’t have all of the solutions; it’s fairly the alternative — we’ve got questions. And whereas there are lots nonetheless left to be requested, Kabbage CEO Rob Frohwein is understandably a busy man proper now, so we reached out to him with just a few questions to offer an concept of how the massive AMEX acquisition will change issues. Right here’s what he instructed us:
What does it imply for Atlanta’s expertise ecosystem, and that of the broader Southeastern area, that American Categorical made this acquisition?
The monetary companies business is evolving with manufacturers comparable to American Categorical looking for to develop digital options for patrons. Atlanta has lengthy been acknowledged as a metropolis that fosters tech innovation and careers, particularly in financial-services and this acquisition is a testomony to its place.
Will Kabbage proceed to name Atlanta residence within the quick and long run?
Kabbage group members will proceed to work from their present workplace areas, together with the Atlanta workplace, which can stay the headquarters for Kabbage.
How does Kabbage plan to carry on to its distinctive tradition?
Tradition is a mirrored image of the folks at an organization, and fortunately our group is becoming a member of an organization comprised of unimaginable folks. Our gifted group and its tradition had been one of many promoting factors for American Categorical and we consider that integrating our groups will solely profit our already wealthy and distinctive tradition.
What if something do you, Kabbage and AMEX need to show after this acquisition?
By pairing our cash circulation administration expertise with their 60+ years of expertise backing small enterprise, international community and breadth of economic companies, we’ll develop a world-class platform that may higher assist our prospects efficiently emerge from this difficult interval and past.
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