Square Inc.’s Jack Dorsey announced on Wednesday, Oct 10, the step down of their financial head Friar to join Nextdoor.
Nextdoor is a social networking service for neighborhoods and was founded in 2008 but launched in October 2011 in the United States. It was co-founded by Sarah Leary, Nirav Tolia, Prakash Janakiraman, and David Wiesen.
Friar joined Square – a financial service, merchant services aggregator, and mobile payment company as CFO in 2012. Friar helped Square to go public and grow the company’s ecosystem of business that will take them to their peak in the future.
Square’s CEO Jack Dorsey said that he was saddened by the announcement because he was expecting to work with Sarah for a long time but also recognizes Friar’s ambition to run her own company. According to Dorsey, Friar has been an amazing leader, partner, and a friend. Sarah was known to be Dorsey’s, right-hand woman.
Nirav Tolia, co-founder and outgoing CEO of Nextdoor states that Sarah in one of the most highly regarded executives in Silicon Valley with her exceptional business skills. She has always been the top choice in the search of the next CEO of Nextdoor and said that Nextdoor is fortunate and excited to work with her.
The move was said to be a smart move by Nextdoor following the announcement of Tolia’s plan to step down as soon as he found his successor and bring Nextdoor to the “next level”.
David Viniar, the current lead independent director of Square will be the successor of Friar, said the company.