Whew - what a ride. Last week
Underdog announced its acquisition by
IG Group.
Last spring I joined Underdog CEO
Jeremy Levine as a first-time CFO and we began a big task: rewriting a $500M business from daily fantasy to prediction markets rails. It’s often felt like Everything Everywhere All At Once - but we did it. In one year we acquired a DCM/DCO, got clear on a few priorities, rebuilt all our business processes, data, and metrics to get focused and efficient, hired a leadership bench and restructured the team, and swung Ebitda from -12% in 2025 to +24% Ebitda in 1H 2026, culminating in the sale to IG. I’m still in awe of this team’s dedication and hard work to stand up an exchange in record time, with unwavering humor, focus and generosity.
Next up is joining forces with IG Group, a partner with the resources and customer obsession to help Underdog achieve bigger things. I’m so grateful to Jeremy for his trust in me, and to the amazing Underdog team. I’ll always bleed Underdog yellow, and knowing we had the team in place and the support of IG leadership to tackle the next phase enabled me to pursue my own next chapter…
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…Which is that I'm excited to share that I've joined
Substack as CFO.
I've admired Substack and CEO
Chris Best for years. When my friend Mood Rowghani put us together, he knew the company’s mission would fit perfectly with my own.
Substack brings together two things that really matter to me – democratizing entrepreneurship, and making important voices heard. These were two of the core promises of the Internet, which I’ve tried to help deliver in my time at Twitter and Square.
To that end, Chris,
Jairaj Sethi and the team are building something I deeply believe in: a platform that helps creators build independent livelihoods by creating thoughtful work people genuinely want to spend time with. In the process, they're also raising the quality of what we consume online.
I’ve often had the experience of reading a Substack post, being deeply moved by it, and thinking, "There's no way I would have encountered this—and been changed by it—without Substack." I believe a world where Substack gets this right is an unequivocally better world, for creators and readers everywhere.
I also love the particular challenge, chaos, team-building and joy of the growth stage. So I’m very grateful for the chance to join the Substack team in their next phase.
Speaking of: we’re hiring! If building a new economic engine for culture sounds like your kind of mission, we'd love to hear from you. I'm especially looking for exceptional leaders in finance and operations who want to make an outsized impact alongside an extraordinary team:
Head of Biz Ops:
https://lnkd.in/gcv6hCsp
Head of Strategic Finance (FP&A):
https://lnkd.in/g4mJVrWs
Director, Strategic Business Operations (BizOps)
Director, Strategic Business Operations (BizOps)