A lawsuit filed by a female former employee of Social Finance claims the company allowed a "hostile work environment where sexually inappropriate behavior became widely accepted and laudable by upper management." The legal action, coming a week after the sudden resignation of CEO Michael Cagney, raises further questions about the treatment of women at the company.
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MongoDB, a startup that sells open-source database software, has filed for an initial public offering with the Securities and Exchange Commission. The filing says the company intends to raise as much as $100 million -- an amount often used as a placeholder and subject to change.
Software startup Zenefits, having been hit with fines for improprieties in its insurance brokerage operation, says it will get out of the brokerage business and sell its software to brokers instead. CEO Jay Fulcher says the company's real expertise is in software.
Regulatory agency Transport for London won't renew Uber's expiring operating license for the city due to "a lack of corporate responsibility" on matters that have "potential public safety and security implications." The license expires Sept. 30, but Uber can continue to operate during a 21-day window for an appeal.
Lawmakers in Washington have largely refrained from regulating global internet giants, but their mood is changing, with some talking openly about the need to limit the power of the biggest tech firms. Talk of rewriting antitrust and election advertising laws has heated up after revelations that fake accounts tied to Russia bought political ads on Facebook during the 2016 presidential campaign.
China has an overwhelming lead over Silicon Valley in the race to dominate the mobile payments business in some of the world's fastest-growing markets, and backing startups is crucial to its strategy. Most of the $2.7 billion in new investment obtained by Asian financial-technology startups in this year's second quarter came from Chinese investors.
French President Emmanuel Macron is expected to propose a new visa program to attract foreign tech workers and reportedly will back lower taxes on investment -- all good news for the startups clustered in Paris. Joao Medeiros reviews what some of the city's startups are doing.
NVCA submitted to the Office of the Comptroller of the Currency (OCC) recommendations for key changes to the Volcker Rule that will support venture capital investment into startups in emerging ecosystems across the US. NVCA outlined how the scope of the Volcker Rule is too broad, while demonstrating that it was never Congress' intent to include venture capital funds in the covered funds provision of the rule. NVCA proposes that the OCC, in conjunction with the Securities and Exchange Commission, approve an exemption for venture capital funds from the definition of "covered fund," which governs a prohibition on a banking institution's ability to contribute capital to private funds. Learn more about NVCA's recommendations.
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