Clinkle, a tech start-up primed to rival Google Wallet, recently announced their new CFO as former PayPal executive Mike Liberatore. Though the company’s mobile payment platform has not yet been launched, Clinkle seems to be planning for steady growth once it becomes an official competitor of similar products. Clinkle’s recent announcement came less than two months after it reportedly laid off 25% of its workforce. With speculations about the company’s plans mounting, the addition of an industry veteran to the executive team leads onlookers to believe that Clinkle plans to become a huge success.What is Clinkle?
Information about Clinkle is hard to come by, as the company has not yet made their product available to consumers. However, adding Mike Liberatore to their ranks signals that the company is planning for growth. As Liberatore reported in an email, “My primary focus will be to help us manage our growth in the event the product is successful.” As opposed to other mobile payment platforms, Clinkle boasts that it is hardware independent, a quality that may create cost savings for customers using their product.
Liberatore Brings Expertise to Clinkle
Clinkle’s choice of Mike Liberatore as CFO is strategic, to say the least. Liberatore’s career history includes Senior Director of Finance for Asia-Pacific and positions at Adobe, Intel, Hewlett Packard, and eBay. Additionally, Liberatore’s expertise includes financial planning and analysis. As stated in a recent email, Liberatore believes it was his “domain expertise, international experience, and reputation for helping scale finance teams” that landed him Clinkle’s CFO position.
Clinkle Plans for Growth
Competition is increasing in the mobile payment platform industry. In addition to contending with Google Wallet, Clinkle is going up against industry giants like PayPal and Apple. Furthermore, programs like Dwolla and Square are runners-up that provide more competition. So far, Clinkle’s hiring decisions have shed light on the company’s estimated success, but have indicated very little about how the company plans to compete with established brands. To date, Clinkle has only announced that its product plans to ease the burden of transaction fees for merchants and provide unique benefits, like social features, for consumers.
Do you think Clinkle will become Google Wallet’s top competitor?