Forge Global Holdings, Inc.

to borrow funds, to exercise their vested options, and then sell their shares on the Forge platform.

We're being deliberate about the rollout, starting small and with a long-term strategy of working with banking partners to provide the capital this product requires. We believe our lending offering can help unlock sell-side inventory and generate additional revenue as the product gains traction. Switching topics to what is top of mind for the investment community, for our executive team and board, is capital allocation. During this period of market instability, we've been conscious about cost containment and reduction of cash burn. And we have instituted a hiring freeze, which continues to build for the future and will do so with an expected flat headcount in 2023. We will continue to consciously manage spend while investing for growth, but we're committed to lowering our overall cash burn in 2023 compared to 2022. Despite the challenging macroeconomic environment we're building for the future, we're excited about the progress we've made, debuting our first lending product to unlock new inventory, increasing the value we deliver to customers through our data products, and expanding internationally through Forge Europe, all of which accelerates the network effects of our unique model.

I've said this before, but it's worth reiterating.