News > FinTech, Financial Services

Uber CEO Says Some Furloughed U.S. Federal Workers Became Drivers to Make Ends Meet
With the U.S. government in the midst of its longest shutdown in history - now 33 days as of this writing - more than 800,000 federal workers have been furloughed and gone without pay for over a month. It's not surprising then that Uber CEO Dara Khosrowshahi told CNBC in an interview from the World Economic Forum in Davos that
Google Buys Smartwatch Tech and Know-How From Fossil
Alphabet Inc. (NASDAQ: GOOG)(NASDAQ: GOOGL)'s Google unit said Thursday it's buying about $40 million worth of smartwatch technology from watch maker Fossil Group Inc. (NASDAQ: FOSL), which is throwing in the R&D employees who developed it as part of the deal. What We Know While neither Google nor Fossil said what, exactly, the new technology is, the head of Google’s Wear
WeWork Rebrands as SoftBank's Planned Investment is Radically Cut
We already knew the two biggest outside investors in SoftBank's $100-billion Vision Fund were opposed to a massive investment Chief Executive Masayoshi Son was planning to make in co-working startup WeWork, and now word comes that Son appears to have acquiesced and drastically cut the planned funding. After the Vision Fund had initially planned to make a $16 billion investment
E-Cigarette Industry Has its First Billionaires
Altria Group announced a $12.8 billion investment in Juul Labs Inc., acquiring a minority stake in the popular e-cigarette company and valuing it at $38 billion. The investment by Altria makes Juul's founders Adam Bowen and James Monsees the first e-cigarette billionaires, according to Bloomberg. The Bloomberg Billionaires Index notes that - assuming Altria's transaction dilutes the holdings of current
Mary Meeker Leads $250M Funding Round For Newly Minted Fintech Unicorn
Fast-growing fintech startup Plaid Inc. announced that it had closed a $250-million Series C round led by prominent venture capitalist Mary Meeker, who will also join the company's board of directors as part of the deal. While Plaid is not disclosing its current valuation, a source tells Bloomberg that the latest funding round makes the San Francisco-based startup worth about
Why an AWS Spin-Off Could Be Amazon's Best Strategic Move
Big U.S. tech companies are facing increasing regulatory scrutiny for their size and influence in the American economy. New York University marketing professor Scott Galloway said on Monday that spinning-off its Amazon Web Services cloud business could be the perfect solution for, Inc. (NASDAQ: AMZN). Creating A Cloud Pure-Play Galloway, who has a track record of predicting Amazon would
Apple is Launching Coding Camps For Women-Owned Startups
Apple announced that it will be launching quarterly coding camps for women who own app-driven startups, offering them the opportunity to participate in a two-week intensive training program with Apple engineers, designers and others. Apple's Entrepreneur Camp will accept 20 app companies for each quarterly program, with 10 startups slated to participate in its pilot that will launch in January.
Nearing a Highly Anticipated IPO, Uber Reports Nearly $1B in Losses For Q3
Uber self-reported nearly $1 billion in losses for the third quarter - as well as slowing growth - which will no doubt be heavily scrutinized as the ride-hailing company prepares for its heavily anticipated initial public offering in 2019. Uber's losses increased 32 percent quarter over quarter to $939 million on a pro forma basis. However, the company was anticipating
How Women Who Code is Making Sure Women Aren’t Pushed Out of Tech Jobs
You would think that holding both undergraduate and master’s degrees from Stanford (the latter in computer science) would make finding a job in tech a cinch. Facebook, Google, and the like are willing to pay top dollar for these candidates, even at the internship level. Not so for Kate Heddleston. Heddleston is currently an engineering manager at Shift Technologies, a
A Cloud Hangs Over Robinhood as High-Frequency Trading Controversy Heats Up
Robinhood is one of the most valuable startups in the U.S., achieving "unicorn" status last year by passing the $1-billion valuation mark. But a new report from Bloomberg about the company's controversial practice of selling customers' orders to high-frequency traders threatens not only its reputation, but could also call into question its future revenue stream. The Menlo Park, California-based startup,