news 
Bench to be Acquired, After Abrupt Shut Down
In a shocking turn of events, Bench, the VC-backed accounting startup that left thousands of customers in the dark after suddenly shutting down last week, will be acquired by Employer.com for an undisclosed sum. The sudden acquisition comes just hours after the initial shutdown notice sent shockwaves throughout the startup ecosystem.
According to sources familiar with the matter, Bench’s abrupt shut down on December 27th sparked widespread panic among its customer base, with thousands of small business owners left scrambling to regain access to their accounts and data. The company had previously touted over 35,000 “American small business owners” as customers on its website.
However, in a surprise twist, it appears that Employer.com, an HR tech company specializing in payroll and onboarding services, will revive Bench’s platform and allow customers to log back in and access their information imminently. In a statement announcing the acquisition, Employer.com emphasized that customers can expect to continue working with the same expert bookkeepers they have come to trust.
In addition, the company stated that this deal ensures continuity for Bench customers, while also opening up new opportunities powered by Employer.com’s extensive resources.
Notably, the acquisition has raised eyebrows in the startup community, particularly given the company’s sudden and unexplained shutdown. The move also raises questions about the future of the thousands of employees who were laid off following the shutdown notice.
Source: techcrunch.com
