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December 28, 2018

Silicon Valley grew a bumper crop of unicorns this year. Amid the buoyant US economy, venture capitalists minted 32 startups worth at least $1 billion in the Bay Area, reports the Silicon Valley Business Journal (pdf).

The companies range from food-delivery service DoorDash to a sneaker company beloved by techies, Allbirds.

Here are the 10 most valuable unicorns of 2018:

While the...

December 19, 2018

Square is making another attempt to break into banking.

Approval of the plan would allow the payments company to operate without going through outside banks and intermediaries. If approved, Square would also get access to a coveted feature of the banking world — deposit insurance.

San Francisco-based Square is well-known in the payments sector for its credit card processor, payment hardware and Cash...

December 13, 2018

Silicon Valley is creeping onto the big banks’ turf. Today, for example, brokerage app Robinhood is rolling out a bank-like checking and savings service that pays surprisingly high interest rates.

Robinhood says these services will offer 3% interest, which tops every other instant-access online savings product in the US, according to Bankrate. The accounts are backed up to $250,000 by the Securities...

December 11, 2018

Fintech company Plaid just hit a key Silicon Valley milestone: a multibillion dollar valuation.

The start-up announced a $250 million funding round on Tuesday, led by Kleiner Perkins’ partner Mary Meeker, who will also be joining Plaid’s board. Andreessen Horowitz and Index Ventures were among the new investors while former backers Goldman Sachs, NEA and Spark Capital also participated.

The cash...

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