Faire hires first legal director after getting $12 billion valuation


Faire Wholesale Inc., an online marketplace valued at more than $12 billion, announced on Monday the hiring of its first-ever general counsel, Lauren Thomas.

Thomas, a former partner at Wachtell, Lipton, Rosen & Katz, joined Faire in January after spending nearly the last year as general counsel for Dutchie LLC, a payment services provider for the cannabis industry.

Faire said in a statement that Thomas has more than a decade of expertise in finance, regulation and corporate governance. She did not immediately respond to a request for comment on her decision to switch jobs.

The San Francisco-based startup specializes in selling items to small businesses and stores. In November, the company raised $400 million in Series G funding, valuing Faire at $12.4 billion.

Fenwick & West advised Faire on its latest fundraising, which was led by D1 Capital Partners LLC, Dragoneer Investment Group and Durable Capital Partners LP. The Silicon Valley-based law firm has advised Faire, founded in 2017, on several previous funding rounds.

Thomas was previously general counsel and chief compliance officer for digital banking startup Good Money Group Inc. and corporate counsel at Square Inc., a mobile payments startup that changed its name in December to Block & Co. She has left Good Money last year to become chief legal officer at Dutchie.

Faire co-founder and CEO Max Rhodes, who previously worked with Thomas at Square, said Monday via LinkedIn that he was delighted to reunite with a lawyer familiar with the “toughest regulatory challenges.” Thomas will lead all corporate, strategic and tactical initiatives at Faire, Rhodes said.

Faire said Thomas helped Dutchie “overcome extremely complex regulatory and legal challenges, ultimately transforming the brand advisory function into a seven-person team.”

Since recruiting Thomas in March 2021, Dutchie has hired several lawyers to bolster his legal and public policy ranks. Bryan Barash, former general counsel to outgoing Massachusetts Senate Speaker Harriette Chandler, joined Dutchie last summer as head of public policy and strategy.

Dutchie also last year hired director of government relations and regulatory affairs Erica Woods of Facebook Inc. and senior product attorney Jonathan Herczeg of Uber Technologies Inc.

Dutchie, who did not respond to a request for comment on Thomas’ exit, was valued at nearly $3.8 billion in October after raising $350 million.

Goodwin Procter advised Dutchie on this Series D funding, which also included D1 Capital, Dragoneer and Casa Verde Capital LLC, the latter backed by rapper and entrepreneur Calvin “Snoop Dogg” Broadus Jr.


About Author

Comments are closed.