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Bench to be acquired after abruptly shutting down

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31–40 of 92 posts

Re: Bench to be acquired after abruptly shutting down

#31
post #19

As someone who was affected by this, I opted to go ahead and try and get my money's worth (although I have another service doing this in parallel). Also they were supposed to file an S Corp election for me, so hopefully I'll be able to find out the latest status of that. This whole thing is such a mess.

[dead]

Re: Bench to be acquired after abruptly shutting down

#32
post #19

As someone who was affected by this, I opted to go ahead and try and get my money's worth (although I have another service doing this in parallel). Also they were supposed to file an S Corp election for me, so hopefully I'll be able to find out the latest status of that. This whole thing is such a mess.

A bit of research yields this guy as this owner of employer.com: https://x.com/JesseTinsley

Re: Bench to be acquired after abruptly shutting down

#33
post #7

lol, well, the companies who have already started a migration away from Bench are probably not going to stop their migration. Ouch.

Especially when the Bench competitors offering those migrations have a deadline of the 31st to do 2024 books/taxes.

Re: Bench to be acquired after abruptly shutting down

#35

Would you trust Employer when their "About" page looks like this? https://www.employer.com/about "Our Story There are many variations of passages of available, but the majority have suffered alteration in some form, by injected humour, or randomised words which don't look even..."

According to the founder, he just bought the domain a month ago: https://x.com/JesseTinsley/status/1861243509006848065

Probably not finished but acquired Bench anyways.

Re: Bench to be acquired after abruptly shutting down

#36
post #11
post #10

Earlier quoted context omitted.

NDR (Net Dollar Retention) in a business like this is the key metric for determining whether there's a business or customer base worth acquiring here. With Bench's rumored churn in recent years, their existing investors which includes top funds like Bain and reputable ones like Inovia (which is top Canada) would've had the opportunity to invest first. Clearly they didn't. With a rumored 2024 revenue of $54.9m in 2024…

I was commenting on how acquisitions happen, not asking to be spammed by an accounting company masquerading as a relevant comment. I'd suggest deleting it and not continuing this strategy, as I suspect I'm not the only HN reader who will react to your comment by making a mental note that 'Digits' is a company with annoying marketing.

Hey that's good feedback. I'll leave the first part since I was also commenting on how acquisitions happen. Note though that the OP is an affected bench customer looking for a transition but I'll respect your part of this thread. Have a great rest of 2024.

Re: Bench to be acquired after abruptly shutting down

#37

Would you trust Employer when their "About" page looks like this? https://www.employer.com/about "Our Story There are many variations of passages of available, but the majority have suffered alteration in some form, by injected humour, or randomised words which don't look even..."

Is that a form of lorem ipsum or ... what even is that?

Re: Bench to be acquired after abruptly shutting down

#38

Would you trust Employer when their "About" page looks like this? https://www.employer.com/about "Our Story There are many variations of passages of available, but the majority have suffered alteration in some form, by injected humour, or randomised words which don't look even..."

looks like they "fixed" it by removing all content save for the title

Re: Bench to be acquired after abruptly shutting down

#39
post #35

Would you trust Employer when their "About" page looks like this? https://www.employer.com/about "Our Story There are many variations of passages of available, but the majority have suffered alteration in some form, by injected humour, or randomised words which don't look even..."

According to the founder, he just bought the domain a month ago: https://x.com/JesseTinsley/status/1861243509006848065 Probably not finished but acquired Bench anyways.

Amazing how this company that barely existed 5 minutes ago is already trusted by Google, Chipotle, Robinhood, HubSpot, X, Chime and Anthropic per their landing page. I wonder if that's also news to those companies.

Re: Bench to be acquired after abruptly shutting down

#40
post #39
post #35

Earlier quoted context omitted.

According to the founder, he just bought the domain a month ago: https://x.com/JesseTinsley/status/1861243509006848065 Probably not finished but acquired Bench anyways.

Amazing how this company that barely existed 5 minutes ago is already trusted by Google, Chipotle, Robinhood, HubSpot, X, Chime and Anthropic per their landing page. I wonder if that's also news to those companies.

Someone visited the website from their IP ranges how much more trust do you want?
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