Billion dollar business?
One Cork company is planning to go from 370 employees globally to 1,000 by 2024, it was recently revealed.
Global Shares in Clonakilty announced 150 new high-skill, high-value jobs immediately while planning a huge expansion.
The fintech company had An Taoiseach Micheál Martin on hand to announce the new jobs at the firm’s headquarters in the West Cork Technology Park on the outskirts of Clonakilty. The jobs, which are coming onstream now, are supported by Enterprise Ireland.
The company is an employee-owned company and is on track to achieve unicorn valuation status by 2024. This a privately held startup company valued at over $1 billion.
It currently employs 370 staff in 16 offices globally, including London, Barcelona, New Jersey, Nashville, Tokyo, Miyazaki, Hong Kong and Beijing.
The company was set up in Clonakilty, where it remains headquartered today employing 167 staff. In addition, Global Shares has an office in Cork city centre, where 35 staff are based, bringing the total staff in Ireland to 202.
The company is currently seeking applications for roles including software development, product owner, compliance, cyber security, financial reporting, project management and more.
Speaking in the almost empty office space as the majority of employees have been working from home due to Covid-19 guidelines, An Taoiseach said: “The story of Global Shares is a remarkable one, illustrating how from small beginnings a company can grow and develop a global footprint. It is an inspiring example of what can be achieved through talent and ambition.”
“At the heart of Global Shares is its people. This hard working, determined and highly skilled workforce has driven the company’s success and growth. Today’s jobs announcement marks another step in what is an exceptional journey.”
CEO of the company, Tim Houstoun, said: “I love that we are writing software in Clonakilty that transforms people’s lives worldwide through the momentum and wealth created by employee ownership.”
He added: “Our growth over the past couple of years has been enormous, but over the next few years, we’re aiming to be West Cork’s first unicorn, and we’re on track to achieve that.”
“This is something that is exciting for many reasons – including the fact that as an employee-owned company, many of our own staff will reap the rewards of the hard work they’ve put in over the years.”
“We have also just launched a new offering to help venture backed private companies to create and manage employee options as well as help their investors track the value of their ownership.”
“People often ask how a company on the edge of Ireland, on the edge of Europe, could succeed on a global stage, competing with the world’s biggest financial services giants…yet here we are. It’s amazing what you can achieve when you back yourself, think globally and empower your team to succeed.”
Julie Sinnamon, CEO, Enterprise Ireland added: “Global Shares is a world-class company and a great example of what’s possible for innovative Irish businesses on the world stage. Enterprise Ireland has worked closely with Global Shares for many years and supported its growth from Clonakilty into over 100 markets worldwide.
Global Shares is one of a handful of companies globally that offers fully outsourced employee share plan management.
It provides administration services through its team of expert share plan analysts, financial, legal and compliance professionals, but also provides a software platform where employees can view, manage and sell the shares they own, online or through an app.
Global Shares clients include Italian insurance firm Generali, Krispy Kreme, Cargill, Fujitsu and many more global, household names.
Founded in 2005 as a service only company, it is the only remaining independent global company in this space.
Global Shares is a finalist in the 2020 EY Entrepreneur of the Year Programme.