To settle claims that it broke Iranian sanctions, Cuban Assets Control Regulations and Weapons of Mass Destruction bank regulations, JPMorgan Chase has agreed to a $5.3 million fines payment. The U.S. Treasury noted that the violations were voluntarily disclosed by the bank and were a “non-egregious...
Welcome to Five at Five, your late look the day’s payments and commerce news. Today’s coverage includes a look at Square’s newest merchant offering, along with SoftBank’s newest potential investment in ride sharing. U.S. regulators are leaders on penalties, a scooter-sharing firm expands and AMC...
Business credit card startup Brex has confirmed earlier reports of its pursuit of unicorn status. A press release issued Friday (October 5) said Brex closed a $125 million Series C funding round, valuing the company at $1.1 billion just a little over three months after...
Following news that Snap Chief Executive Evan Spiegel unveiled new strategic goals and acknowledged shortcomings with a recent design of its app in a memo, the social media company’s shares fell by 0.7 percent on Friday (October 5). The most recent decline comes as the...
To learn more about the workers who deliver items such as food and groceries through startups, the San Francisco Municipal Transportation Agency (SFMTA) is launching a survey. The poll seeks to find out how many couriers enter the city each day, what time they make...
To help get its messaging service before more doctors, a messaging app geared toward medical professionals has notched €4.5 million in funding. The service, which is called Siilo, lets this audience collaborate on patient care through a messaging app that is encrypted, according to reports....
For many shoppers, Revolve is not quite a household name as of yet. The brand largely focuses on (and sells to) younger shoppers — particularly millennials and Gen Z. But among that rather critical shopper demographic, Revolve has found a powerful sweet spot, especially for...
In an effort to shrink its store footprint and shore up its balance sheets, Mattress Firm and its subsidiaries have filed for a voluntary Chapter 11 restructuring case. The company is seeking to implement a reorganization plan that includes a process for closing “economically inefficient...
Digitally native retailers are testing out temporary brick-and-mortar locations to drive consumer engagement — and allow their customers to experience some of their selections in real life. Two eCommerce retailers in particular — Wayfair and Brandless — are planning to reach consumers with pop-up shops...
