WePay's New Home with JPMC
One year ago, we announced our acquisition by JPMorgan Chase (JPMC). As you would imagine, there were many conflicting emotions and many new hopes. There was, of course, the exuberance of the long desired exit. There was also both the joy of seeing the business you nurtured for years (five years for me, personally) be recognized but also the potential fear that the precious culture you had built might wane. However, one of the key elements of the acquisition was that JPMC wanted to “protect the precious butterfly” that is WePay’s culture and innovation. Thus, instead of taking control away, they’ve kept us independent and invested heavily in us and the Executive Team. WePay was one of the most significant FinTech mergers and acquisitions deals JPMorgan Chase had closed in over a decade.
We’re still learning what works best for both sides, but so far, it truly has been a great relationship – our opinions and voice really matter to JPMorgan Chase. Together, we are embracing change – one of the WePay values we deeply care about.
Since the acquisition, JPMC has started to embrace ideas on how to compete for Silicon Valley talent and how to build an engineering culture where top notch talent wants to work. On the flip side, we’ve been exposed to a tremendous amount of resources and opportunities from JPMorgan Chase and our existing relationships have become richer due to our increased capabilities. In the past year, we’ve signed several momentous new partnerships and our pipeline continues to grow, just like our company. In fact, since the acquisition, we’ve hired almost 100 new WePayers and are continuing to hire aggressively (if you want to be part of our exciting adventure, check out our latest openings!).
As we continue to pursue our aggressive growth, today we are announcing another exciting milestone – first, our Providence office is moving to a bigger space. Second, our new headquarters will be at a completely new campus in Palo Alto with our JPMorgan Chase colleagues. This campus is being designed for us and built from scratch. When completed in 2020, this campus near Stanford University will have the latest in workplace design, reflecting our employees’ feedback about what matters most. With the new headquarters, we will be able to collaborate more easily and increase creativity. Ultimately, this is another huge milestone for WePay and JPMC, as this new campus demonstrates the major investment that JPMC is making to build a true tech innovation hub in Silicon Valley.
As I look forward, I know that the integration won’t always be easy. However, if we continue the care and commitment that WePay and JPMC have already brought to the acquisition, I believe we’ll be writing the new playbook for successful FinTech M&As that others will follow.