Acorns Names Twitter’s Rich Sullivan As New CFO

Saving and investing app Acorns Grow Incorporated has appointed former Twitter exec Rich Sullivan as its new Chief Financial Officer (CFO) in anticipation of its public Nasdaq listing.

Sullivan led corporate finance and financial planning and analysis for Twitter as part of more than two decades of experience in corporate finance, treasury, mergers and acquisitions and investor relations at STX Entertainment, DreamWorks Animation and AT&T.

“Rich brings a unique combination of expertise, vision and commitment to mission,” said Noah Kerner, CEO of Acorns, in the company announcement. “Our next phase of growth as a company will only be fueled by his leadership.”

Acorns has helped its 4 million subscribers invest more than $9.6 billion since its inception.

“I look forward to working with the team as we continue to empower more investors and do so with their financial best interests in mind,” said Sullivan.

Jasmine Lee, who served as Acorn’s Chief Operating Officer (COO) and CFO, prepared the company for its public rollout. She will now focus her attention on the company’s strategic plan and overseeing the day-to-day operations as COO.

“I’m excited to welcome Rich to the team as we continue building a multi-generational company with operational scale to serve our fast-growing base of customers,” Lee said in the Acorns announcement.

Related news: Consumer Savings App Acorns To Go Public Via SPAC At $2.2B Valuation

In May, Acorns Grow Inc. announced plans to go public as part of a deal with Pioneer Merger Corp, a special-purpose acquisition company (SPAC) that is traded on Nasdaq. The combined company, with a valuation of about $2.2 billion, will be traded as Acorns Holdings on the Nasdaq Capital Market.

Acorns Grow offers its subscribers education, investing, banking, earning and wealth-making with three membership levels available by subscription.

Kerner said the company plans to “introduce a share rewards program that will allow eligible customers to own a piece of the company.” As part of the merger deal, Kerner said he will contribute 10 percent of his personal ownership in Acorns to fund the program.