Well, that was a crazy turn of events.
Three weeks ago, I thought Parker was going to be acquired in a deal worth nearly $90M.
Yesterday, we filed for Chapter 7.
I spent most of my twenties building Parker. We went from an idea in YC to processing over $1B in annualized volume, pioneered products that became standard across fintech, and built something I believed could last for decades.
And now it’s over.
I know there’s going to be speculation about why Parker failed, but a lot of what’s being said online is simply not accurate.
Over the last few years, we faced leadership turnover, a much tougher market, slowing growth, and the realities of trying to scale a venture-backed business after momentum fades.
Earlier this year, we decided the best path forward was to pursue a sale of the business. We ran a process and spent months working toward a potential acquisition that ultimately did not close.
After that, things moved quickly.
The hardest part is the impact on the people involved:
•Customers dealing with disruption
•Employees losing jobs they worked hard for
•Investors who believed in us losing money
What I am proud of is the team. Parker was built by incredibly talented people who deserved a better outcome than this. Helping them land somewhere great is my top priority right now.
If you’re hiring operators, engineers, designers, finance, credit, or growth talent, please reach out.
To everyone who believed in Parker over the years: thank you.
@JIMMYEDGAR The eye of Horus is the 3rd eye... What it looks like when the head is open, the projection system feels a bit reaching but the general consensus is great about the power of intention
Great read about what it takes to walk your aligned Path from someone who is walking it and all the pain that comes with following the call! (Not for the faint of heart) https://t.co/OaN4hwfCmz
The Success Code https://t.co/EJ5C3c5mEQ incredible book written from an incredible human @brandonepstein_ check it out. He was just featured on Joe Rogan this week
Dear Elon Musk,
77+ Million MAGA Patriots have your back. We will protect you at all costs. It’s time to step up for Elon
Leftists are going after every one of Elon Musk’s businesses. Time to buy some Teslas ❤️
Sincerely,
True American Patriots
.@naval: “The reality is that opportunities have never been more equal than now.
@elonmusk and @JeffBezos have the same iPhone you do. They don’t have some better version of an iPhone.
They’re eating food that might be marginally better than yours, but it’s basically the same.
You might even have a better diet than them. You probably have more time to go to the gym than them.
They’re not immortal, and they’re not going to be—most likely, not at this time scale.
So you have more youth than them. You have a lot of advantages over them.
The wealth gaps are actually much smaller than people think.
A lot of that is due to mass production, which comes from specialization, labor, and capitalism.
But it’s very easy to overlook that and agitate—because that gets you higher in the status hierarchy with other monkeys.
It makes you look like you’re fighting for noble causes and gives you status, which is really what people are craving these days.
They’re craving status, not money or wealth.
And status is a zero-sum game.
So it’s kind of an evil game to play because there have to be losers for every winner.
And the only way to win is by crushing somebody else down.”