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Welcome Tage Kene-Okafor, Mary Ann Azevedo, Sophie Burkholder and a guy named Drew There are some additions to the TechCrunch team that I’m happy to announce. First, Kirsten Korosec, who has been with us for more than two years, was promoted to Transportation Editor. Kirsten has done amazing work, helping to elevate our foothold in the transportation space and making our Mobility events some of the most successful we’ve produced. This means that not only will she continue to hunt for scoops, but she’ll also be bringing on some fresh voices in transportation. Look for them on TechCrunch ...

5 ways Robinhood’s rushed UX changes exacerbated the GameStop crisis The GameStop debacle has been hailed by many as a first of its kind form of digital activism, with the “crowd” coming together to stick it to Wall Street, and specifically hedge funds that are in the business of short selling. However, what if you’re a startup or scale-up caught in the middle of such an unprecedented and unstoppable set of events, requiring you to make rapid business and product decisions almost seemingly on the fly. Especially if there is significant reputational damage at stake when things don’t ...

Robinhood’s Q4 2020 revenue shows a return to growth It's why investors were willing to put in another $1B last week Deeply funded fintech company Robinhood has been the world’s most discussed startup over the last week. After the discount trading pioneer found itself in the midst of a battle between hedge funds on one side and a slurry of retail and institutional capital on the other, Robinhood’s trading volume spiked last week. But after the National Securities Clearing Corporation (NSCC) raised its deposit requirements before the market open on Friday, Robinhood was forced to restric...

The big story: Robinhood raises $1B I know the newsletter has been dominated by Robinhood and stock market news for the past few days but, well, so have the headlines. The latest news is that after reportedly tapping its credit lines, Robinhood raised $1 billion in new funding from existing investors. It seems the company needed the money in order to meet regulatory minimums and other requirements tied to users’ trading activity. Meanwhile, the SEC has issued a statement that doesn’t specifically mention Robinhood or GameStop by name, but it says that “extreme stock price volatility has...

Reddit co-founder on GameStop: ‘The collective public cannot unsee this’ When Robinhood, a startup that promises to make finance accessible for all, temporarily limited trading on GameStop, AMC, and other memestocks, many retail investors were pissed that the fintech darling suddenly didn’t live up to its name. The specific reasons may have been short-term and technical, but the choice looked corrupt to the average person. Here’s why: The presence of a massive hedge fund as a main Robinhood partner and supporter of the short-sellers is exactly what Robinhood users are rallying against...