After almost nine months of aggressive searching, Snapchat has found someone to run the books.
Snapchat Hires Mattel Executive Drew Vollero as Finance VP (And Maybe CFO)
The company has been looking for someone to handle the books for almost nine months.
Michael Kovac / Getty Images
The startup has hired former Mattel executive Drew Vollero as its VP of finance and acting CFO, according to a company spokesperson. It’s still undecided whether or not Vollero will become the full-time CFO, but the spokesperson said Vollero is expected to take that job at some point down the road. The news was first reported by the Wall Street Journal.
Snapchat CEO Evan Spiegel has been hunting for a CFO for some time now, a need that was growing as Snapchat’s business expanded. Re/code reported last month that Snapchat is gunning for $50 million in revenue this year, and that number is supposed to increase dramatically to more than $200 million in 2016.
Typically a CFO is brought on as a company starts exploring an IPO, but Vollero doesn’t have much IPO experience. Spiegel said at the Code conference in May that this was on his radar, but didn’t offer other details on timing.
Vollero will report to Imran Khan, the Wall Street banker that Spiegel brought in last year as chief strategy officer.
This article originally appeared on Recode.net.
