Category: finance
India’s Yes Bank breakdown disrupts Walmart’s PhonePe among a dozen other services
Tens of millions of merchants and users in India are struggling to make online transactions and use some of their popular services after the nation’s central bank seized control of Yes Bank, the fourth largest lender in the country. The emergency takeover of the private sector bank has disrupted several…
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Twitter CEO’s weak argument why investors shouldn’t fire him
Twitter CEO Jack Dorsey might not spend six months a year in Africa, claims the real product development is under the hood, and gives an excuse for deleting Vine before it could become TikTok. Today he tweeted, via Twitter’s investor relations account, a multi-pronged defense of his leadership and the…
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Citing Star Wars, Kleiner Perkins closes a $700M fund for early-stage companies
After going “back to the future” with a $600 million fund last year, VC firm Kleiner Perkins is aiming for some “returns of the Jedi” with its freshest (and refocused) fund. With Star Wars references on the forefront in its announcement, the firm today announced that it has closed its…
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Did African startups raise $496M, $1B or $2B in 2019?
Five years ago, it was hard to come by any numbers for annual VC investment in Africa. These days the challenge is choosing which number to follow. That’s the case for three venture funding studies for Africa that turned up varied results. The numbers and variance Investment stats released by…
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Lunchr becomes Swile to expand beyond corporate lunch cards
Lunchr has rebranded to Swile in order to expand its product offering beyond meal vouchers. The company wants to focus on everything that happens at work but that isn’t technically work — money pots for a birthday, paying back your coworkers, creating team-building events and more. At heart, Swile provides…
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Robinhood blames record trade volume & itself for outages
It wasn’t the leap year, a coding blip, or a hack that caused Robinhood’s massive outages yesterday and today that left customers unable to trade stocks. Instead, the co-CEOs write that “the cause of the outage was stress on our infrastructure — which struggled with unprecedented load. That in turn…
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