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Austen Allred - 1 BloomTech - 1 CFPB - 1 Allred - 1
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Lambda School - 1 Consumer Financial - 1 Business - 1

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☆ Coding boot camp BloomTech and CEO Austen Allred deceived students, US government agency says
  + stars: | 2024-04-17 | by ( Rosalie Chan | ) www.businessinsider.com   time to read: +1 min
The CFPB issued an order against coding boot camp BloomTech and CEO Austen Allred. The CFPB said BloomTech, formerly known as Lambda School, deceived students. The Consumer Financial Protection Bureau issued an order against coding boot camp BloomTech and its CEO, Austen Allred, on Wednesday. The CFPB said the coding boot camp, previously known as Lambda School, deceived students about the cost of loans and made false claims about graduates' hiring rates. In addition, BloomTech must pay $64,000 and Allred must pay $100,000 in civil penalties, which will go toward a victim relief fund, according to the agency.
Persons: Austen Allred, BloomTech, CFPB, Allred Organizations: Lambda School, Consumer Financial, Business
☆ Students of BloomTech, formerly known as Lambda School, filed a class action lawsuit against the coding bootcamp
  + stars: | 2023-03-16 | by ( Rosalie Chan | ) www.businessinsider.com   time to read: +3 min
Students of the Bloom Institute of Technology have filed a class action lawsuit against the school. They say the coding bootcamp, formerly known as Lambda School, advertised false job placement rates. While students have previously taken legal action against BloomTech, this is the first class action lawsuit against it. Former BloomTech students said that the school fell short of its promise with under-qualified instructors and an incomplete curriculum, Insider first reported. Leaked documents also showed that BloomTech's job placement rates were much lower than advertised, Insider previously reported.
☆ Leaked video shows the CEO of $3 billion GoStudent announcing fresh layoffs. Insiders and Slack screenshots suggest hundreds of staff have been cut.
  + stars: | 2022-12-16 | by ( Riddhi Kanetkar | Tasmin Lockwood | ) www.businessinsider.com   time to read: +4 min
GoStudent held a company-wide all-hands meeting Thursday after a fresh wave of layoffs. The number of employees affected isn't clear, but Slack screenshots show members dropping by 370 over two days. Screenshots of GoStudent's Slack seen by Insider show the number of members dropping by 370 over two days. GoStudent u-turned on perks intended to combat rising inflationScreenshots of the company's Slack channels show employee confusion in response to the layoffs. According to public layoffs tracker Layoffs.fyi, almost 1,000 tech companies have cut more than 150,000 staff.
☆ GoStudent, a $3 billion education startup backed by Coatue and SoftBank, has started a fresh wave of layoffs that could hit over 100 jobs, sources say
  + stars: | 2022-12-14 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com   time to read: +3 min
SoftBank-backed education startup GoStudent is cutting jobs for the second time in three months. The Austrian startup has already cut roles in Italy, Germany, and Vienna, Insider understands. GoStudent has raised $686 million to date and is also backed by Coatue and Prosus. GoStudent, a $3 billion edtech startup backed by some of the world's biggest tech investors, has started laying off staff for the second time in three months, Insider understands. According to public layoffs tracker Layoffs.fyi, almost 1,000 tech companies have cut more than 150,000 staff.
☆ Sequoia Capital took a $213 million bath on FTX after the crypto exchange imploded. That's not that bad, VCs say.
  + stars: | 2022-11-10 | by ( Melia Russell | ) www.businessinsider.com   time to read: +6 min
FTX investor Sequoia Capital has marked down its position to $0 as the crypto exchange crumbles. Sequoia Capital now views its $213.5 million investment in FTX as worthless as the crypto exchange teeters on the brink of collapse after an eleventh-hour deal to salvage the business fell apart. "Somehow Sequoia capital turned a FTX write down to zero into a humblebrag. It invested $150 million into FTX through its third growth fund, which Sequoia said totaled less than 3% of that fund's capital commitments. In its letter to investors, Sequoia said it does "extensive research and thorough diligence" on every investment it makes.
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