Australian-founded payments start-up Airwallex is reportedly utilizing influencers to promote its billionaire chief executive, Jack Zhang, and enhance his public image. This campaign appears to precede a potential stock market listing planned for later this year.
Campaign Details
The $US8 billion fintech company posted a callout on the influencer marketing platform Partnar, seeking creators to share clips from a podcast featuring Zhang on LinkedIn or X. The objective was to portray Zhang as an "aspirational operator" and highlight his "decisive, calm and deeply strategic" mindset as a founder.
Influencers were instructed to make Airwallex appear as "context, not the hero" in their posts and to mention the company casually as "the company Jack built." The content was also required to avoid "obvious ‘ad energy’" to ensure it felt like a "thoughtful takeaway on leadership, not an ad." Original text required Airwallex's approval.
Context and Background
This influencer initiative follows Airwallex's engagement of law firm Mark O’Brien Legal to threaten litigation against media companies that published critical articles about the start-up. The firm demanded the removal of nine articles written over five years, citing alleged unlawful breaches of confidentiality.
Airwallex has previously faced media scrutiny regarding its internal workplace culture. A 2021 staff survey revealed that most compliance and legal employees would not recommend the company. CEO Jack Zhang attributed these issues to "teething problems" stemming from rapid growth. In a recent interview, Zhang stated that the term "burnout" was not in his vocabulary, noting his history of working long hours.
IPO Plans and Recent Developments
Airwallex, founded 10 years ago in Melbourne and now based overseas, provides a platform for businesses to send money internationally. The company is reportedly considering an initial public offering (IPO) in the latter half of the current year, likely on the New York Stock Exchange. Zhang has increased his media appearances and social media activity.
Controversies
Recently, Silicon Valley venture capitalist Keith Rabois accused Airwallex of potentially exposing sensitive American data to the Chinese government, alleging obligations to assist with Chinese Communist Party (CCP) espionage. Zhang refuted these claims, asserting that no US data is sent to China and accusing Rabois of circulating inaccuracies to benefit a competitor. Shortly after this exchange, Airwallex announced a $330 million Series G funding round, which maintained its $US8 billion valuation.