Robinhood’s shares tumble after news of PayPal’s online brokerage services

Share of Robinhood Markets Inc fell by nearly 7% on Monday following a news that PayPal Holdings Inc may start an online brokerage service. Reports have also emerged saying, regulators were looking at imposing a potential ban on a practice that accounts for the bulk of the company’s revenue. Shares of Robinhood extended an early…

Cloud Security firm Netskope valued at $7.5 billion, raises $300M in latest funding round

In a statement cloud security firm Netskope said, it was valued at $7.5 billion in its latest funding round led by existing investor ICONIQ Growth, wherein it raised $300 million. Other large existing investors of the company, including Accel, Lightspeed Venture Partners, Base Partners, Sequoia Capital Global Equities, Geodesic Capital, and Sapphire Ventures also participated…

Danish fintech platform Pleo raises $150M in latest funding round, valued at $1.7 billion

On Tuesday, Pleo, a Danish fintech platform which offers expense management tool and smart company cards, said it had raised $150 million from U.S. investment firms Bain Capital Ventures and Thrive Capital in its latest funding round which valued it around $1.7 billion. The company has more than 17,000 customers across Denmark, Sweden, Germany, the…

Robinhood allows customers to deposit, withdraw cryptocurrencies

In a statement, online broker Robinhood said, it intends to allow customers the ability to deposit and withdraw cryptocurrencies, including the meme-based dogecoin. Currently, Robinhood, a trading app popular with young investors, allows customers to buy, sell and hold cryptocurrencies including Bitcoin on its platform; however, it does not allow its users to withdraw their…

Uber Eats, Postmates, Grubhub and DoorDash face proposed class action lawsuit over charging exorbitant fees midst coronavirus pandemic

In a proposed class action suit filed in Manhattan federal court, three customers have sued GrubHub, Postmates, DoorDash, and Uber Eats for allegedly exploiting their dominance in restaurant meal deliveries to impose fees that consumers ultimately bear through higher menu prices; this includes the current timeframe of the coronavirus pandemic when most U.S. cities are…

China Reform Holdings attempting to seize control of British chip designer Imagination

In an exclusive news bulletin, Sky News has revealed that Imagination, which makes graphics processing units (GPUs) for customers including Samsung and Apple and is one of the UK’s most important technology companies, is scheduled to have an emergency board meeting next week in order to discuss the appointment of four representatives of China Reform…