Investments
11Portfolio Exits
1Latest Vlad Tenev News
Jun 23, 2022
Robinhood cofounders Vlad Tenev and Baiju Bhatt were "visibly shaken" in announcing jobs cuts in April. Photo by Cindy Ord/Getty Images for Robinhood During the pandemic, so-called "meme stocks" from GameStop and AMC exploded as stuck-at-home investors armed with no-fee trading platforms looked for ways to spend their pandemic stimulus checks. As new users piled in, Robinhood hired rapidly. Between 2020 and 2021, the trading app's staff grew dramatically: from 700 people to around 3,800, according to CEO Vlad Tenev. But that growth ended up proving too much, too fast. In April, Robinhood was forced to slash headcount by 9% — more than 300 people altogether. See more here: Blend Although Blend doesn't write home loans, its technology is used by major US lenders from Wells Fargo to US Bank, so its fortunes are tied closely to theirs. Blend's layoffs this spring affected roughly 200 people, many concentrated within Blend's title insurance business. Ahead of its IPO last July, Blend bought Title365, which has been particularly exposed to swings in refinance volumes, for more than $400 million. The size and pace of rate increases "is unprecedented, certainly in modern history," Tim Mayopoulos, the president of Blend, told Insider. Prior to joining Blend, Mayopoulos spent nearly 10 years at Fannie Mae, where he ultimately served as president and CEO of the mortgage giant. "These are big movements in a very, very big market," Mayopoulos added. "It shouldn't be surprising to any of us that everybody who's touching this market is having to think about how to bring their cost structure in line with market realities." See more here: A PayPal sign is seen at an office building in San Jose, California May 28, 2014. Thomson Reuters PayPal has laid off its security R&D team focusing on emerging technologies, Insider has learned. And a source with direct knowledge of the cuts believes it won't be the only unit to be affected as the payments giant undergoes an internal restructuring to cut spend. "There's a lot of restructuring, a lot of refocusing for the company. As you know, the last quarters haven't been really great from a financial perspective. I think there's a lot of tightening going on in the company," said the source, who asked to remain anonymous for fear of retribution. The source added that employees in other advanced security topics, such as threat intelligence, were also let go. Market conditions, like supply chain issues and rising inflation, have put downward pressure on growth, Schulman said. Meanwhile, eBay's migration to managing the end-to-end payments process "put $1.4 billion of pressure on our top line," Schulman said during the earnings call. Competition from fintechs like Stripe and Shopify also continues to saturate the payments and e-commerce space. See more here:
Vlad Tenev Investments
11 Investments
Vlad Tenev has made 11 investments. Their latest investment was in Lightning Labs as part of their Series B on April 4, 2022.
Vlad Tenev Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
4/5/2022 | Series B | Lightning Labs | $70M | No | 3 | |
3/10/2022 | Seed VC | Atlantic Money | $5M | Yes | 2 | |
1/13/2022 | Seed VC | Seashell | $6M | Yes | Avalanche, Christopher Giancarlo, Coinbase Ventures, Do Kwon, Elad Gil, Khosla Ventures, Kindred Ventures, Mark Cuban, Sandeep Nailwal, Solana Ventures, and Undisclosed Angel Investors | 12 |
12/9/2021 | Series B | |||||
11/16/2021 | Series B |
Date | 4/5/2022 | 3/10/2022 | 1/13/2022 | 12/9/2021 | 11/16/2021 |
---|---|---|---|---|---|
Round | Series B | Seed VC | Seed VC | Series B | Series B |
Company | Lightning Labs | Atlantic Money | Seashell | ||
Amount | $70M | $5M | $6M | ||
New? | No | Yes | Yes | ||
Co-Investors | Avalanche, Christopher Giancarlo, Coinbase Ventures, Do Kwon, Elad Gil, Khosla Ventures, Kindred Ventures, Mark Cuban, Sandeep Nailwal, Solana Ventures, and Undisclosed Angel Investors | ||||
Sources | 3 | 2 | 12 |
Vlad Tenev Portfolio Exits
1 Portfolio Exit
Vlad Tenev has 1 portfolio exit. Their latest portfolio exit was Robinhood on July 29, 2021.
Discover the right solution for your team
The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.