Revolut raises $500M at a $5.5B valuation • Hacker News Board

Re: Revolut raises $500M at a $5.5B valuation

#11

Post by fauria » Tue, Feb 25, 2020, 10:51 AM UTC

sschueller wrote: post #4

Revolut is predatory and walking on the line of legality. I would stay as far away as I can from them. - Unfair/illegal employment practices. [1] - Dubios crypto service (you can buy and sell but there is no way to transfer in or out) [2] - Keeping a firewall between customers and company by only allowing communication via app chatbot [3] - Accusations of money laundry. [4] - Many people have had their accounts froze…

Can you provide links or any other kind of source for these statements?

Customers would be mostly concerned about the fifth one, probably: Many people have had their accounts frozen or even money stolen.

Re: Revolut raises $500M at a $5.5B valuation

#12

Post by koolba » Tue, Feb 25, 2020, 10:51 AM UTC

BaitBlock wrote: post #3

nrki wrote: post #2

Please can we stop linking to articles with Cookie-walls. https://outline.com/9cuRRS

Try https://baitblock.app It can remove cookie walls on many websites automatically

With NoScript they never show up in the first place.

Re: Revolut raises $500M at a $5.5B valuation

#13

Post by Kkoala » Tue, Feb 25, 2020, 10:52 AM UTC

thesimon wrote: post #6

Quite impressed with the valuation. Transferwise Borderless seems to have a better business model with sane prices and not "everything free". And Revolut still uses their e-money license instead of their proper Lithuanian banking license. Quite surprising.

Yep, Transferwise Borderless is quite great. They also offer things that Revolut doesn't such as U.S. bank account, plus Revolut just feels bloated and complex with hidden fees.

Re: Revolut raises $500M at a $5.5B valuation

#14

Post by dx034 » Tue, Feb 25, 2020, 10:52 AM UTC

ascari wrote: post #9

I refused to interview with them due to their poor employment practises. A quick search reveals what's going on.

I found a TechCrunch article[1], is that what you're referring to? Hadn't heard of these issues before (but also never tried to apply there).

[1] https://www.wired.co.uk/article/revolut-trade-unions-labour-...

Re: Revolut raises $500M at a $5.5B valuation

#15

Post by lazyasciiart » Tue, Feb 25, 2020, 10:52 AM UTC

ascari wrote: post #9

I refused to interview with them due to their poor employment practises. A quick search reveals what's going on.

Huh, could you summarize the results of a quick search here, to save everyone else the time?

Re: Revolut raises $500M at a $5.5B valuation

#16

Post by [deleted] » Tue, Feb 25, 2020, 10:56 AM UTC

sschueller wrote: post #4

Revolut is predatory and walking on the line of legality. I would stay as far away as I can from them. - Unfair/illegal employment practices. [1] - Dubios crypto service (you can buy and sell but there is no way to transfer in or out) [2] - Keeping a firewall between customers and company by only allowing communication via app chatbot [3] - Accusations of money laundry. [4] - Many people have had their accounts froze…

[deleted]

Re: Revolut raises $500M at a $5.5B valuation

#17

Post by fasicle » Tue, Feb 25, 2020, 10:57 AM UTC

dx034 wrote: post #14

ascari wrote: post #9

I refused to interview with them due to their poor employment practises. A quick search reveals what's going on.

I found a TechCrunch article[1], is that what you're referring to? Hadn't heard of these issues before (but also never tried to apply there). [1] https://www.wired.co.uk/article/revolut-trade-unions-labour-...

This line from the article is interesting:

"An analysis of the start and end dates of 147 former Revolut employees on LinkedIn suggests that over 80 percent had lasted less than a year, and over half stayed at the company for less than six months."

Re: Revolut raises $500M at a $5.5B valuation

#18

Post by juskrey » Tue, Feb 25, 2020, 10:58 AM UTC

thesimon wrote: post #6

Quite impressed with the valuation. Transferwise Borderless seems to have a better business model with sane prices and not "everything free". And Revolut still uses their e-money license instead of their proper Lithuanian banking license. Quite surprising.

Transferwise has real human phone support, which so far was great for my business account. +1 for prices - I am paying Transferwise fees with pleasure, knowing all those money are returning back to me via great services.

Re: Revolut raises $500M at a $5.5B valuation

#19

Post by romasato » Tue, Feb 25, 2020, 11:00 AM UTC

ascari wrote: post #9

I refused to interview with them due to their poor employment practises. A quick search reveals what's going on.

Everyone keeps repeating and referencing the same old story about where a few of the unhappy employees were bashing the company about its startup culture. Some people are better suited to work at more established companies, not startups growing massively where one has to wear multiple hats and probably work more than the regular 9-5.

Re: Revolut raises $500M at a $5.5B valuation

#20

Post by romasato » Tue, Feb 25, 2020, 11:02 AM UTC

Kkoala wrote: post #13

thesimon wrote: post #6

Quite impressed with the valuation. Transferwise Borderless seems to have a better business model with sane prices and not "everything free". And Revolut still uses their e-money license instead of their proper Lithuanian banking license. Quite surprising.

Yep, Transferwise Borderless is quite great. They also offer things that Revolut doesn't such as U.S. bank account, plus Revolut just feels bloated and complex with hidden fees.

Not sure what hidden fees are you referring to? As far as I can tell, all the fees are explained on their website and in the app.