Christine Park is trying to make Strava profitable while balancing responsible growth, she told Business Insider.
, startups may not be able to recruit seasoned CFOs with multiple exits under their belt. But it's this narrow definition of who a CFO is and what is in his or her purview that Park wants to undo.
"The CFO seat allows you to have this 10,000-foot view of what's happening, the marketplace, the capital structure, and the broader implications of what's going on," Park said. Part of that change, Park said, is because data analytics has become increasingly important across all functions of the business, from marketing and customer service to engineering and design. In the future, all CFO candidates will have to come to the table with an understanding for and interest in working with data to make the business succeed, instead of retroactively reporting key performance indicator metrics.
"The role has changed in terms of what you're doing, and what the perception is internally of what you should be doing," Park said."Especially when you think about venture capital backed companies, you have to have someone who can be external facing with a strong working knowledge of how to think about scaling finance and accounting for the long term."
Which is exactly why, Park says, that a grow-at-all-costs mentality isn't going to help startups like Strava that aren't profitable. It's one of her goals over the next year to change that, but as recent disappointing public offerings have proven, there isn't as much of an appetite for"It's very frenetic, for lack of a better term, but it's just the way it works," Park said."It's how businesses are built.
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