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Draft:Sukhinder Singh Cassidy 2

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Sukhinder Singh Cassidy
Headshot of Sukhinder Singh Cassidy
Sukhinder Singh Cassidy in 2023
Born
Sukhinder Singh

1970 (age 53–54)
Dar es Salaam, Tanzania
Alma materUniversity of Western Ontario, Richard Ivey School of Business
OccupationBusinessperson
Board member ofUpstart
SpouseSimon Cassidy
Children3
Websitexero.com

Sukhinder Singh Cassidy (born Sukhinder Singh in 1970) is a technology executive and entrepreneur. She is currently the CEO of Xero.[1], formerly the president of StubHub [1], and has worked at various tech and media companies including Google[1], Amazon[1], News Corp, and Polyvore[1]. In 1999, she co-founded Yodlee[2], and in 2011, she founded JOYUS[3], the video shopping platform for women, and served as CEO[4] then chairman [3] until 2017. Singh Cassidy is also founder of theBoardlist [5].

Early life and education

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Singh Cassidy was born in 1970 in Dar es Salaam, Tanzania[2], to parents of Indian Sikh descent. Her family moved to St. Catharines, Ontario, Canada, when she was 2[2]. Singh Cassidy graduated from the University of Western Ontario[1] and earned her Honours in business administration from that university's Ivey School of Business in 1992[1].

Singh Cassidy was raised in an entrepreneurial family. Both of her parents were doctors and ran a medical practice for 30 years[6].

Career

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Early career

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Singh Cassidy started her career in investment banking at Merrill Lynch on Wall Street before later moving to the Merrill Lynch London office where she worked as an analyst[2]. She then worked as an analyst for British Sky Broadcasting[2].

In 1998, Singh Cassidy moved to Silicon Valley and joined ecommerce startup Junglee, initially as a product manager but she was quickly moved into a business development role [2]. Following Amazon's acquisition of Junglee in 1998[2], Singh Cassidy joined Amazon, where she led Merchant Group, one of the company's first programs designed to deliver shoppers to merchants that carried what the buyers were looking for[7].

Singh Cassidy co-founded financial services platform Yodlee in 1999 with five engineering co-founders, including Schwark Satyavolu and served as vice president of business development from 1999 to 2003. In 2014, Yodlee went public, trading under the ticker YODL[8].

In 2003, Singh Cassidy joined Google as the first General Manager for Google Local & Maps, which she launched[9]. Between 2003 and 2009 she was Google's president of Asia Pacific and Latin America[1].

In 2009, Singh Cassidy left Google to become CEO-in-Residence at venture capital firm Accel Partners[9]. Singh Cassidy was named CEO of Polyvore in 2010[1].

Joyus

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In October 2010, Singh Cassidy had the idea for a new platform aimed at converging content and commerce through online video as a way to increase consumer engagement with products and drive direct purchases via the video[10]. She founded JOYUS in January, 2011 in San Francisco. Joyus.com launched to the public in August, 2011[6]. Singh Cassidy raised $7.9 million in seed funding from Accel Partners, Harrison Metal, Joel Hyatt, Venky Harinarayan & Anand Rajaraman[11]. In 2013, JOYUS announced it had raised a second round of funding totaling $11.5 million from Interwest and Time Warner, as well as existing investors[12]. In total, JOYUS raised $67 million in funding before being acquired by StackCommerce in September 2017[13].

#ChoosePossibility Project and theBoardlist

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In May 2015, Singh Cassidy published an open letter, titled "Tech Women Choose Possibility", challenging the tech community to increase the rate of progress for women in the industry by leveraging its wealth of existing female talent. The letter was co-signed by 59 female entrepreneurs and investors. Singh Cassidy based the letter on her own experiences as a tech entrepreneur and research she conducted on 230 female founders and CEOs of tech companies[14].

Singh Cassidy launched theBoardlist, the first initiative of the #ChoosePossibility Project, on July 15, 2015[15]. theBoardlist is an online marketplace that connects CEOs who are looking for board candidates with women who are peer-endorsed for private and public tech company boards. When it launched, theBoardlist included the names of over 600 women who had been endorsed by 50 investors and CEOs in the tech industry, from companies including Accel Partners, Greylock Partners, Twitter, Lyft and Box[16]. On October 20, 2015, theBoardlist announced that it had facilitated its first placement of a woman to the board of a private tech company[17].

In August 2023, theBoardlist, which had grown to a pool of over 43,000 executives, was acquired by BoardProspects, a board recruitment solution for public and private companies. [18].

StubHub

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Singh Cassidy was president of StubHub (a subsidiary of eBay), a leading global ticketing marketplace for live entertainment, from April 2018[19] until May 2020[20]. She also served as a member of eBay’s global executive leadership team[20].

In 2020, Singh Cassidy and her team successfully helped lead and execute the sale of StubHub to Viagogo for $4.05 billion[21].

Xero

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On November 10, 2022, Singh Cassidy was named as incoming CEO of Xero, the New Zealand-headquartered technology company and provider of cloud-based accounting tools for small and medium-sized businesses and accountants[22]. Starting with Xero on November 28, Singh Cassidy formally became CEO in February 2023 [22].

In March 2023, Singh Cassidy announced the removal of 700-800 roles across Xero, representing approximately 15% of the employee base[23].

Singh Cassidy hired new executives to Xero's leadership team in 2023, including Diya Jolly, formerly of OKTA and Google as Chief Product and Technology Officer; Michael Strickman, formerly of TripAdvisor and Uber as Chief Marketing Officer; and Ashley Hansen Grech, formerly of Square and Recharge, as Chief Revenue Officer[24].

In May 2024, Singh Cassidy announced Xero’s full year earnings to 31 March 2024 (FY24). Operating revenue increased 22% to NZD $1.7 billion, adjusted EBITDA increased 75% to NZD $526.5 million, with EBITDA of NZD $497.4 million (mainly impacted by the non-cash impairment of Xero Go of NZD $28.9 million). Free cash flow increased to NZD $342.1 million, with a free cash flow margin of 20.0%. As a result, Xero delivered a Rule of 40 outcome of 41.0%[25]

Personal life

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Singh Cassidy is married to Simon Cassidy, a fellow Canadian and former hedge-fund manager who runs an independent investment firm.[6]. The couple have three children and live in the San Francisco Bay Area[1]

Organizations founded

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Board member and advisor

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Singh Cassidy serves as a public board director at Upstart[1]. She previously served on the boards of TripAdvisor (TRIP)[5], Ericsson (ERIC)[26], Urban Outfitters (URBN)[27] J. Crew Group, Inc. (JCG).[5], StitchFix[5], and as an advisor to Twitter[3]

Honors

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  • Featured on the cover of Forbes Australia's Women's issue, issue 11 (2024)[2]
  • Named one of the "Silicon Valley 100" by Business Insider (2016[28], 2012[29])
  • Featured in book, Good Leaders Learn: Lessons from Lifetimes of Leadership (2013)[30]
  • Named one of "44 Female Founders Every Entrepreneur Should Know" by Mashable (2012)[31]
  • Named one of "14 Incredible Women to Watch in Silicon Valley" by Business Insider (2012)[32]
  • Included in Ad Age list of "Women to Watch" (2010)[33]
  • Selected as TechFellow Awards’ first General Management Fellow in recognition of outstanding innovation in General Management (2009)[34]

Notable Speaker

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  • Keynote Speaker, Forbes Australia Women's Summit 2024[35]
  • Keynote Speaker, Women in Retail Leadership Summit 2022[36]
  • Keynote Speaker, Grace Hopper Conference 2019[37]
  • Keynote Interview, Billboard Live Music Summit 2019[38]
  • Keynote Speaker, Liberal National Convention 2018[39]
  • Keynote Speaker, Montgomery Summit 2018[40]
  • Keynote Speaker, Dreamforce 2016[41]
  • Keynote Speaker, Retail Council of Canada, STORE 2015[42]
  • Keynote Speaker at IRCE 2014 – Internet Retailer Conference & Exhibition[43]
  • Keynote Speaker, D2C Convention 2014[44]
  • Keynote Speaker, Stanford University's Entrepreneurship Thought Leadership Series, 2012[45]
  • Speaker, AllThingsD Asia, 2011[46]
  • Keynote speaker at DLDWomen, 2010[47]
  • Keynote Speaker at India Conclave, 2007[48]
  • Featured in book, Innovation nation : Canadian leadership from Java to Jurassic Park (2002)[49]

Angel investing

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Singh Cassidy is an angel investor whose investments include:

References

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  1. ^ a b c d e f g h i j k Tess Bennett (8 September 2023). "The secret to landing a job as CEO of an $18b company". Australian Financial Review. Retrieved 17 June 2024.
  2. ^ a b c d e f g h i Mark Whittaker (17 June 2024). "Xero Hero: How Sukhinder Singh Cassidy reignited a $20 billion giant". Forbes. Retrieved 9 July 2024.
  3. ^ a b c d Adam Bryant (8 July 2016). "Sukhinder Singh Cassidy: Either You Manage Me or I Manage You". The New York Times. Retrieved 9 July 2024.
  4. ^ Jacquelyn Smith (13 July 2016). "A CEO and former Google exec shares the one thing she looks for in every person she hires". Business Insider. Retrieved 9 July 2024.
  5. ^ a b c d e Nancy Wang (6 September 2021). "Aim For Impact With Your Choices, Advises Founder Of TheBoardList Sukhinder Singh Cassidy". Forbes. Retrieved 9 July 2024.
  6. ^ a b c Patricia Sellers (2 August 2011). "Ex-Google exec Singh Cassidy on Joyus and facing her "inner entrepreneur"". Fortune. Retrieved 9 July 2024.
  7. ^ "The Rise of a Dealmaker". Bloomberg. 26 February 2001. Retrieved 10 July 2024.
  8. ^ Michael J. de la Merced (2 October 2014). "Yodlee, a Hub for Financial Apps, Raises $75 Million in I.P.O." The New York Times. Retrieved 10 July 2024.
  9. ^ a b Matt Marshall (7 April 2009). "Yet another Googler leaves: Singh Cassidy joins Accel Partners". Venture Beat. Retrieved 10 July 2024.
  10. ^ Meghan Casserly (8 November 2011). "Making Shopping Social With Video: Joyus Founder Sukhinder Singh-Cassidy". Forbes. Retrieved 10 July 2024.
  11. ^ Kara Swisher (1 August 2011). "Premium Video Commerce Site Joyus — Headed by Top Ex-Googler — Gets $7.9 Million in Funding". All Things D. Retrieved 10 July 2024.
  12. ^ Kara Swisher (5 May 2013). "Video Shopping Startup Joyus Raises $11.5M in Second Round, Focuses on ROI of Online Retail". All Things D. Retrieved 10 July 2024.
  13. ^ Jonathan Shieber (29 September 2017). "StackCommerce buys Joyus to focus on video and expand into fashion, shopping and beauty". TechCrunch. Retrieved 10 July 2024.
  14. ^ "Tech Women Choose Possibility". Medium. Medium. 15 May 2015. Retrieved 10 July 2024.
  15. ^ Kia Kokalitcheva (16 July 2015). "Joyus' CEO has a new plan to get more women onto startup boards". Fortune. Retrieved 10 July 2024.
  16. ^ Ellen Huet (16 July 2015). "A Woman On Every Startup Board? Why Not, Says Ex-Google Exec". Fortune. Retrieved 10 July 2024.
  17. ^ Megan Rose Dickey (20 October 2015). "Boardlist, The Tool For Getting Women On Tech Boards, Has Its First Win". TechCrunch. Retrieved 10 July 2024.
  18. ^ Emma Hinchliffe and Joseph Abrams (1 September 2023). "Exclusive: Serial entrepreneur Sukhinder Singh Cassidy sells her third startup, theBoardlist, to rival boards platform". Fortune. Retrieved 10 July 2024.
  19. ^ Colin Stutz (5 April 2018). "Sukhinder Singh Cassidy Named President of StubHub". Billboard. Retrieved 10 July 2024.
  20. ^ a b Francisco Rendon (28 May 2020). "StubHub President Transitioning Out, Company Announces Additional Layoffs". Pollstar. Retrieved 10 July 2024.
  21. ^ Taylor Mims (14 February 2020). "Viagogo Completes $4B StubHub Acquisition as UK Merger Investigation Continues". Billboard. Retrieved 10 July 2024.
  22. ^ a b Jenny Ruth (10 November 2022). "Xero's growth slows, Sukhinder Singh Cassidy to succeed Steve Vamos as CEO". The New Zealand Herald. Retrieved 10 July 2024.
  23. ^ Chris Keall (10 March 2023). "Xero's 800 layoffs, with more to come - the country in the firing line". The New Zealand Herald. Retrieved 10 July 2024.
  24. ^ Rebecca Stevenson (10 March 2023). "Xero adds deep global expertise, ends painful job cuts". The New Zealand Herald. Retrieved 10 July 2024.
  25. ^ "Xero's FY24 Revenue up 22% to $1.7 Billion, delivers Rule of 40" (PDF). asx.com. ASX. 23 May 2024. Retrieved 10 July 2024.
  26. ^ Martha Ross (27 March 2017). "Entrepreneur Sukhinder Singh Cassidy on backing other women's success". Bay Area News Group. Retrieved 10 July 2024.
  27. ^ "Sukhinder Singh Cassidy and Elizbeth Ann Lambert Not Standing for Re-Election to the Board". MarketScreener. 1 April 2022. Retrieved 10 July 2024.
  28. ^ Biz Carson, Emmie Martin, and Julia Naftulin (8 July 2016). "THE SILICON VALLEY 100: The most amazing and inspiring people in tech right now". Business Insider. Retrieved 11 July 2024.{{cite news}}: CS1 maint: multiple names: authors list (link)
  29. ^ SAI (3 February 2012). "The Silicon Valley 100". Business Insider. Retrieved 11 July 2024.
  30. ^ Seijts, Gerard (2013). Good Leaders Learn : Lessons from Lifetimes of Leadership. London: Routledge. pp. 186–195. ISBN 978-0415659772.
  31. ^ Lauren Drell (6 August 2012). "44 Female Founders Every Entrepreneur Should Know". Mashable. Retrieved 11 July 2024.
  32. ^ Alyson Shontell (6 February 2012). "14 Incredible Women To Watch In Silicon Valley". Business Insider. Retrieved 11 July 2024.
  33. ^ Kunur Patel (7 June 2010). "Women to watch: Sukhinder Singh Cassidy". AdAge. Retrieved 11 July 2024.
  34. ^ Jason Kincaid (5 June 2009). "2009 TechFellow Awards: The Winners". TechCrunch. Retrieved 11 July 2024.
  35. ^ "Forbes Australia announces 2024 Women's Summit: "Power Rising"". Forbes. 5 February 2024. Retrieved 11 July 2024.
  36. ^ "2022 Women in Retail Leadership Summit: Sukhinder Singh Cassidy Keynote". Women in Retail. 2022.
  37. ^ "EBay : Paving a Path for Gender Parity through the Grace Hopper Conference". MarketScreener. 25 October 2019. Retrieved 11 July 2024.
  38. ^ "EBay : StubHub President Sukhinder Singh Cassidy Joins Billboard Live Music Summit". Head Topics. 9 September 2019. Retrieved 11 July 2024.
  39. ^ "2018 Liberal Convention – Sukhinder Singh Cassidy Keynote Address". CPAC. 21 April 2018. Retrieved 11 July 2024.
  40. ^ "15th Annual Montgomery Summit Announces 2018 Keynote Speakers & Presenting Companies". CPAC. 22 February 2018. Retrieved 11 July 2024.
  41. ^ Mark Niu (7 October 2016). "Dreamforce 2016: Salesforce customer conference wraps up in San Francisco". CGTN America. Retrieved 11 July 2024.
  42. ^ Retail Insider (25 May 2015). "Top Reasons Why We're Attending This Year's STORE Conference". Retail Insider. Retrieved 11 July 2024.
  43. ^ "Internet Retailer Conference & Exhibition (IRCE) 2014 Guide". issuu.com (page 24). IRCE. 6 February 2014. Retrieved 11 July 2024.
  44. ^ "Sukhinder Singh Cassidy Named Keynote Speaker for 2014 ERA D2C Convention". GlobeNewsire (Press release). Globe Newswire. 6 February 2014.
  45. ^ "Entrepreneurial Thought Leaders Video Series". Stanford.edu. Stanford University. 6 February 2014. Retrieved 11 July 2024.
  46. ^ John Paczkowski (19 October 2011). "What Bubble? SurveyMonkey's Dave Goldberg, Joyus's Sukhinder Singh Cassidy and Airbnb's Brian Chesky". All Things D. Retrieved 11 July 2024.
  47. ^ "DLDwomen 2010 - It's My Fashion: Meet a Shooting Star (Sukhinder Singh Cassidy)". DLD Conference. YouTube. 16 April 2013. Retrieved 11 July 2024.
  48. ^ Thornton May (15 June 2011). "Thornton May & Sukhinder S.Cassidy at India Today Conclave 2007". India Today. Retrieved 11 July 2024.
  49. ^ Brody, Leonard (2002). Innovation nation : Canadian leadership from Java to Jurassic Park. Etobicoke, Ont.: Wiley. pp. 185–190. ISBN 978-0-470-83202-8.
  50. ^ Leena Rao (16 April 2013). "The RealReal Raises $14M To Bring The Consignment Model For Luxury And Designer Goods Online". TechCrunch. Retrieved 11 July 2024.
  51. ^ Eliza Brooke (16 July 2013). "Charitable Water Filter Maker Soma Raises $3.7M Seed Round". TechCrunch. Retrieved 11 July 2024.
  52. ^ Marketwired (16 August 2012). "J.Hilburn Rapidly Building the Next Great Men's Retail Brand". Yahoo Finance. Retrieved 11 July 2024.
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