FORTUNE -- Last month I wrote about stealth payment start-up Clinkle, and the disconnect between its Silicon Valley reputation (a well-funded joke) and its successful recruiting of big-name executives. In short, if Clinkle is so bad, then how does it keep hiring good people?
One response I heard a lot was that my argument's focus was on C-suite hires, rather than product/engineering hires.
Well, today Clinkle announced that Josh Brewer has joined as VP of design. He previously spent nearly three years as principal designer at Twitter (TWTR), before leaving last summer ahead of the company's IPO.
In a prepared statement, Brewer said:
"When I look at things we do every day that mobile will transform, nothing stands out like payments, and Clinkle is poised to be a leader in the space. Like me, Clinkle believes that engineering and design are two sides of the same coin. This philosophy, along with Clinkle's technology, team, and vision, make it an irresistible opportunity. I'm excited to be joining Clinkle, particularly during this period of forward momentum."
Again, people are not the same as product. And the company still hasn't launched (despite promises that it would open up on at least one college campus by the end of Q1). But today's news reminds me that either this company is successfully pulling the wool over some very smart people's eyes, or the rest of Silicon Valley has prematurely jumped to a negative conclusion.
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There is a disconnect between Clinkle's reputation and its recruiting.
FORTUNE -- Last summer, stealth payment startup Clinkle raised $25 million in what it referred to as the largest seed round in Silicon Valley history. Since then, it has slowly become something of a punchline in Silicon Valley, with many going to far as to compare it to Color -- the photo-sharing company that shut down just one year after raising MOREDan Primack - Feb 3, 2014 6:00 AM ET
Clinkle still wants to kill Square. But first it needs to get its own house in order.
FORTUNE -- Clinkle, a stealthy mobile payment startup that recently raised the largest seed financing round in history, today has completed an internal reorganization. Or, in other words, layoffs.
Fortune has learned that the San Francisco-based company has issued pink slips to 16 employees, or just around 25% of its staff. No word yet on MOREDan Primack - Dec 9, 2013 12:37 PM ET
Ex-Netflix CFO Barry McCarthy believes Clinkle's founder may be the next Reed Hastings.
FORTUNE -- It has been nearly three years since Barry McCarthy stepped down as chief financial officer of Netflix (NFLX), where many viewed him as Reed Hastings' right-hand man. He has since gone on to advise venture capital firm (and early Netflix backer) Technology Crossover Ventures, and to sit on the boards of such companies as Pandora (P), MOREDan Primack - Oct 22, 2013 7:30 AM ET
Clinkle raises $25 million from big-name backers, with plans to disrupt the mobile payment space.
FORTUNE -- Lucas Duplan demurs when I ask if his mobile payment startup, Clinkle, is intended to be a Square-killer.
"I don't view this as a zero-sum game, and am appreciative of all the people trying to innovate here, including Square," he says. "We're just looking to build the best possible product to delight our users... but MOREDan Primack - Jun 27, 2013 10:01 AM ET
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