By now you’ve heard the big money news: Atlanta-based fintech company Kabbage is in the process being acquired by American Express.
There are all sorts of implications here, and you’re likely to see a lot of media — local and national — covering this story in the days and weeks to come. But rather than look at it from a pure news standpoint, remember that there are short and long- term impacts.
We don’t have all the answers; it’s quite the opposite — we have questions. And while there are plenty still left to be asked, Kabbage CEO Rob Frohwein is understandably a busy guy right now, so we reached out to him with a few questions to provide an idea of how the big deal will change things. Here’s what he told us:
What does it mean for Atlanta’s technology ecosystem, and that of the wider Southeastern region, that American Express is making this acquisition?
The financial services industry is evolving with brands such as American Express seeking to expand digital solutions for customers. Atlanta has long been recognized as a city that fosters tech innovation and careers, especially in financial-services and this acquisition is a testament to its position.
Will Kabbage continue to call Atlanta home in the short and long term?
Kabbage team members will continue to work from their current office locations, including the Atlanta office, which will remain the headquarters for Kabbage.
How does Kabbage plan to hold on to its unique culture?
Culture is a reflection of the people at a company, and thankfully our team is joining a company comprised of incredible people. Our talented team and its culture were one of the selling points for American Express and we believe that integrating our teams will only benefit our already rich and unique culture.
What if anything do you, Kabbage and AMEX have to prove after this acquisition is complete?
By pairing our cash flow management technology with their 60+ years of experience backing small business, global network and breadth of financial services, we will develop a world-class platform that can better help our customers successfully emerge from this challenging period and beyond.
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