US analytics firm New Relic names Square CFO to board before IPO
Square Inc Chief Financial Officer (CFO) Sarah Friar has joined New Relic Inc's board. The new addition comes as the application performance management firm continues on its way to a potential initial public offering (IPO), according to The Wall Street Journal (WSJ).
Friar was the managing director for Goldman Sachs' enterprise software. She was also Salesforce.com Inc's senior vice president for finance and strategy before she joined Square in 2012, the report detailed.
Lew Cirne, founder and chief of New Relic, said he expects to learn many things from Friar, the report added.
Meanwhile, New Relic also named Robin Schulman as a new general counsel. Schulman is a former Adobe Systems Inc legal counsel. He also lectures on intellectual property at Santa Clara University. In December, the analytics firm named Hilarie Koplow-McAdams from Salesforce.com as its first chief revenue officer, the report stated.
In February 2013, investor Jeff Horing of Insight Venture Partners said New Relic was planning to have new board members and implement changes that would prepare the company for an IPO. Cirne declined to reveal a timetable for a potential IPO. He instead said he was focused on building the firm, WSJ reported.