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Bench to be Acquired, After Abrupt Shut Down
In a shocking turn of events, Bench, the venture capital-backed accounting startup that suddenly and without warning shut down its operations last week, leaving thousands of small business owners in the lurch, will be acquired by Employer.com. The deal, which TechCrunch has learned is for an undisclosed price, marks a stunning reversal just days after the company’s sudden closure.
According to sources close to the matter, Bench employees are being called back to work to ensure continuity of service. This news comes as a relief to the many small business owners who have been left without access to their accounting and tax documents.
The acquisition by Employer.com, an HR tech company that specializes in payroll and onboarding, raises questions about what will happen to Bench’s employees and its customers. While some may be pleased that the service is being revived, others may be concerned about the impact this move will have on the businesses they rely on for their accounting and tax needs.
In a statement announcing the acquisition, Employer.com promised that customers would be able to continue working with “the same expert in-house bookkeepers they know and trust.” The company also indicated that it would provide instructions to its new customers on how to log back in and access their data imminently.
Source: techcrunch.com
