Right now, we introduced that Arjun is becoming a member of Kraken as co-CEO. We’re additionally rolling out modifications essentially altering how we innovate, construct and roll out merchandise for shoppers.
Kraken was constructed from Day One with the mission of accelerating the worldwide adoption of crypto so that everybody can obtain true monetary freedom and inclusion. To proceed forging our path forward and put Kraken in competition to grow to be the most important crypto platform on this planet, we must be leaner and quicker.
As we’ve grown north of $1 billion in web income as a distant group worldwide, we fell into the entice of constructing organizational layers. We put managers in control of the successes or failures of the teams they managed, and we predicated success primarily based on siloed P&Ls. At its greatest, this construction can present clear paths for “managers” whereby they will transfer from smaller, much less complicated areas of focus to progressively bigger and extra complicated ones. So, “managers” are incentivized to do the flawed factor.
We’re making organizational self-discipline selections to sort out this downside and remove layers. We’d like to ensure our high contributors are targeted on constructing moderately than managing. This implies we give extra energy to our leaders to construct best-in-class merchandise, leverage knowledge to make selections which can be greatest for our shoppers, and make engineering, product and design groups all really feel extra accountable for outcomes.
Making organizational modifications is rarely straightforward, and we perceive their profound influence on folks’s lives. We deeply recognize those that helped us get right here and for his or her many contributions, and we are going to assist them throughout this transition.
We’re utilizing all of our capital to proceed constructing a bridge from the previous world to the brand new — assembly folks the place they’re — simplifying, rising accessibility and increasing the use instances for crypto for folks world wide. What issues most is the utility we convey to our shoppers.
The subsequent chapter of Kraken begins immediately. LFG.