Lawmakers lined up to blast Robinhood CEO Vladimir Tenev at a financial services committee hearing on Thursday for the stock trading app’s decision to restrict trading in meme stocks like GameStop last month during a frenzied rally. Robinhood said at the time it had to restrict trading to deal with regulatory capital requirements. It subsequently raised $3.4 billion in fresh funds. But its move...
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Sequoia Capital China Buys Discounted Stake in Prominent E-Commerce App
Sequoia Capital China recently acquired a stake in Chinese social e-commerce app Xiaohongshu from existing investors at a discount to the company’s most recent equity financing valuation, according to three people with knowledge of the matter. Sequoia China, which is preparing to separate from Silicon Valley’s Sequoia Capital next year, bought the Xiaohongshu shares earlier this...
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