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Adam Zbar

Chief Executive Officer at HamsaPay

Adam Zbar is the CEO of HamsaPay, a company focused on innovative financial solutions. He is recognized as a serial entrepreneur with multiple accolades, including several Webby Awards, highlighting his contributions to the tech industry. Prior to his role at HamsaPay, Zbar founded and served as the CEO of Sunbasket.com, a prominent e-commerce platform specializing in meal kits.1

In addition to his entrepreneurial ventures, Zbar possesses strong expertise in general management and business strategy, which he applies to drive growth and innovation at HamsaPay. His leadership style is characterized by effective listening and collaboration.2

Highlights

Mar 12 · linkedin

My personal story about Silicon Valley Bank…

I have been a customer of Silicon Valley Bank for 18 years. During this time, #SiliconValleyBank has been a trusted partner and stood by me during the greatest challenges of my career as the founder of technology start-ups. I wanted to share a personal story.

In 2013, my start-up Lasso was insolvent. We had spent all our venture equity. The rules of the game were that we were supposed to fold, having failed to secure more equity funding. However, I still had some money in my #SVB account from their loan. I went to my banker, Albert Martinez, and told him my predicament. I also told him I had a new idea for my failed business. If he was willing not to foreclose on my loan, I would take no salary until we secured new venture equity funding.

The idea was #SunBasket, a healthy meal delivery platform. Albert, who was a foodie, loved the idea. He said that he would go to bat for me and make sure SVB kept my loan open so we had money to continue.

Over the next 4 years, we built Sun Basket into a company that generated $300M in revenue a year, employed over 1,000 people, and shipped millions of healthy meals across the United States. It was sold in 2021 in a transaction valued at $550M. None of this would have been possible without SVB.

Over the past 48 hours, as a community, we failed SVB in its time of need. Despite it being a greenhouse that has helped our seedling companies grow into something more, as a community we ran for the hills.

This is not a message I want to teach my young children - that when the going gets tough, you should focus on your own self interest vs. the interest of the community.

My pledge is that, in the event that SVB is purchased and depositors are made whole, I pledge to resume our banking relationship with SVB. I hope others will join me in this founders' pledge.

Adam Zbar Current CEO, Hamsa (HamsaPay.com). Former CEO, Sun Basket (SunBasket.com)

#siliconvalleybank #SVB #founderspledge #jpmorganchase #bankofamerica #wellsfargo #fdic #federalreserve #treasurydepartment #jeromepowell #janetyellen

Jamie Dimon

Related Questions

What is HamsaPay's mission and vision?
What are some of Adam Zbar's notable achievements at Sunbasket.com?
How did Adam Zbar transition from Sunbasket.com to HamsaPay?
What other companies has Adam Zbar founded or led?
What are the key features of HamsaPay's platform?
Adam Zbar
Adam Zbar, photo 1
Adam Zbar, photo 2
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Location

San Francisco, California, United States