Robinhood Says It Will Lay Off 9% of Its Employees
The company’s co-founder Vlad Tenev said it had overhired during the height of the pandemic, and now needed to “increase our velocity.” Source
The company’s co-founder Vlad Tenev said it had overhired during the height of the pandemic, and now needed to “increase our velocity.” Source
Robinhood lost $502 million, compared with a profit of $58 million a year prior. Source
SAN FRANCISCO — Robinhood helped propel a “meme stock” frenzy earlier this year that sent stock prices of small companies on a roller-coaster ride. On Thursday, its own initial public offering was far more subdued. […]
SAN FRANCISCO — When Vlad Tenev and Baiju Bhatt created the stock trading app Robinhood in 2013, the entrepreneurs declared that their mission was to democratize Wall Street and make finance accessible to all. Now […]
The company’s shareholders, however, stuck with it. Within a week, it raised two rounds of emergency funding totaling $4.4 billion to meet lending requirements for stock trades and to continue making trades. That funding resulted […]
Vlad Tenev has incited the fury of the trading app’s fans amid a stock market frenzy. His lack of preparedness on nuts-and-bolts issues was part of a pattern, former employees and analysts said. Source
Richard Dobatse, a Navy medic in San Diego, dabbled infrequently in stock trading. But his behavior changed in 2017 when he signed up for Robinhood, a trading app that made buying and selling stocks simple […]
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