Sarah Friar, long the CFO of Square, is leaving to join the social network Nextdoor as its CEO

Sarah Friar, long the CFO of Square, is leaving to join the social network Nextdoor as its CEO

Square’s CFO Sarah Friar is stepping down to become the CEO of Nextdoor, according to the payment company’s CEO, Jack Dorsey. In a statement issued a bit ago, he says of Friar that she “steered us through an IPO and helped build a growing ecosystem of businesses that will scale into the future.” Friar “leaves us having established a culture of entrepreneurship and discipline across the entire company. She has been an amazing leader, partner, and friend, and we are grateful for all she’s done for Square.” Nextdoor has since released its own statement about Friar, who will assume the position in December. He also said then that he will remain the company’s board chairman. San Francisco-based Nextdoor has raised $285 million from investors over its eight-plus years, including from Insight Venture Partners, Benchmark, Shasta Ventures, Tiger Global Management and Kleiner Perkins. The company has soared into unicorn terrain, but it also seemingly needs to generate more revenue before it can be taken public. Toward that end, it began offering paid real estate listings roughly one year ago. The company also sells targeted ads. She was the first in her family to go to university, studying engineering at Oxford. After graduating, she joined McKinsey as a business analyst in London, then Johannesburg, before moving to California in 1998 to nab an MBA at Stanford.

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Square’s CFO Sarah Friar is stepping down to become the CEO of Nextdoor, according to the payment company’s CEO, Jack Dorsey.

In a statement issued a bit ago, he says of Friar that she “steered us through an IPO and helped build a growing ecosystem of businesses that will scale into the future.” Friar “leaves us having established a culture of entrepreneurship and discipline across the entire company. She has been an amazing leader, partner, and friend, and we are grateful for all she’s done for Square.”

Nextdoor has since released its own statement about Friar, who will assume the position in December. Quoting the company’s co-founder and outgoing CEO Nirav Tolia, the statement reads: “Sarah is one of the most highly regarded executives in Silicon Valley with an exceptionally rare mix of proven business skills, and authentic heart and soul. . . From the very beginning of our CEO search, she has been the top choice, and the board of directors and I feel exceptionally fortunate and excited for her to lead Nextdoor…

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