FinTech news in market category

Robinhood to let users lend out their shares in its attempt to diversify revenue On Deck cuts 25% of staff, scales back accelerator On Deck, a tech company that connects founders, laid off about 72 people this week, which amounts to about 25% of staff Over the past week, we’ve witnessed an alarming amount of layoffs across the startup ecosystem, from buzzy, big names like Cameo, On Deck and Robinhood, to B2B platforms like Workrise and Thrasio. Amazon aggregator Thrasio begins layoffs, names new CEO Thrasio’s business model is to buy up and consolidate third-party Amazon sellers, but apparently, that strategy is rife with ups and downs.

The founders say that while sellers often want the products at their doorsteps, the availability and flexibility of both options differentiate Brimore from similar social commerce platforms such as Taager. The opportunity in the market can be attributed to the growth in online social sellers in the country, over 1.25 million them, helping little-known brands sell and distribute their goods via different networks.