E13: Architecting IPO Readiness from Day One with Nadia Asoyan, Formerly of Square, Robinhood, and Strike

In this episode, Sasha sits down with Nadia Asoyan, former CFO of Strike, Robinhood, and Controller at Square. Nadia shares her journey from EY to Silicon Valley's top fintech rocketships, offering invaluable insights on transitioning from accounting to CFO positions. She discusses the challenges of IPO readiness, the evolution of financial processes in fast-growth startups, and the delicate balance between growth and profitability. Nadia also provides candid advice for aspiring CFOs, emphasizing the importance of cross-functional partnerships and data literacy. 🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj This show is a part of the Turpentine podcast network. Learn more: https://www.turpentine.co Get Turpentine Finance directly in your inbox. Subscribe to our newsletter at https://turpentine-finance.beehiiv.com/ and receive key takeaways from each episode -- RECOMMENDED PODCAST: 🎙️ Second Opinion - A new podcast for health-tech insiders from Christina Farr of the Second Opinion newsletter. Join Christina Farr, Luba Greenwood, and Ash Zenooz every week as they challenge industry experts with tough questions about the best bets in health-tech. Apple Podcasts: https://podcasts.apple.com/us/podcast/id1759267211 Spotify: https://open.spotify.com/show/0A8NwQE976s32zdBbZw6bv 📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812 -- SPONSORS: NETSUITE 📈 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite: http://netsuite.com/zen - NetSuite has extended a one-of-a-kind flexible financing program for a few more weeks. COMMANDBAR 🦾 Level up your ineffective website chatbot with CommandBar. CommandBar builds a new type of web assistant which delivers highly personalized responses, real time co-browsing, and can perform actions on behalf of the users. Learn how Hashicorp, Gusto, Freshworks and more use CommandBar at https://commandbar.com/moz BABBEL 🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg -- LINKS: Strike: https://strike.me/ X/SOCIAL @sashaorloff @NadiaAsoyan TIMESTAMPS: (00:00) Introduction (01:06) Nadia’s Accounting Origins (04:17) Big Four Lessons (07:38) Square's Early Days (09:03) The Audit to In-House Transition (11:22) IPO Readiness at Square (17:05) Building Processes at Robinhood (18:21) Sponsors: Netsuite | CommandBar (21:00) Attracting Founders (24:30) Expanding Responsibilities (28:18) Evolving Processes (28:42) Sponsors: Babbel | Attio (32:33) Advice for Accounting Professionals (35:05) Board Management and Fundraising (42:00) Board Meetings (45:20) Growth vs. Profitability (48:32) Counterintuitive Advice (50:00) Misconceptions and Unsolved Problems (54:41) Square IPO Challenges (59:48) Complexity and Automation (1:04:10) Free Products and Hyper Growth (1:07:01) Pricing Models (1:10:22) Budget Setting (1:14:20 ) Wrap