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Revolut aims to take on Indian banks and their ‘criminal’ forex fees | TechCrunch

Revolut aims to take on Indian banks and their ‘criminal’ forex fees | TechCrunch

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British fintech Revolut — now launching in India — says cross-border payments remain one of India’s most underserved financial services. By its estimate, Indians spend about $30 billion overseas every year and lose around $600 million in bank charges — fees its India head calls “criminal.”

“It has been the preserve of banks,” Paroma Chatterjee, Revolut India CEO, told TechCrunch. “You go to your bank to take currency, foreign exchange out from your bank, or you take a travel card that is issued by your bank when you’re traveling overseas … there have been humongous charges which have been levied on this.”

Since 2021, Revolut has been working toward its India launch, aiming to fill what it sees as gaps in the country’s foreign exchange and traditional payments spaces. The London-headquartered fintech acquired Arvog Forex in 2022 to obtain a license and offer remittance and multi-currency account services in India. In April this year, it also secured a prepaid payment instrument (PPI) license from the Reserve Bank of India, allowing it to issue prepaid cards, support digital wallets and integrate with the government-backed Unified Payments Interface (UPI).

With these regulatory approvals, Revolut aims to challenge traditional banks in India and compete with existing fintech players. The British startup is targeting more than 150 million “globally aspiring, digitally native” Indians aged between 25 and 45, with plans to onboard about 20 million users by 2030 and process at least $7 billion worth of their transactions.

Chatterjee said that such regulatory approvals — including the PPI license — allows the fintech to offer a more differentiated experience than players that rely on bank partnerships. “We can deliver the kind of customer experience that we want to deliver,” she said.

Revolut will offer Indian consumers a prepaid wallet with UPI support and its own branded UPI handles, along with a domestic Visa card and an international multi-currency Visa card. It will also introduce dedicated kids and teens accounts linked to parents’ profiles, a subscription-based model, and budgeting and analytics tools that provide insights into spending habits.

Notably, the startup has regulatory permissions to enable both domestic and international payments and transfers through its platform. It also has authorization to enable same-day remittances from India through a local bank partner.

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Unlike many Indian fintech players that use minimum know-your-customer (KYC) checks to quickly onboard users for limited, low-value transactions, Revolut will offer only full-KYC wallets. The fintech will also verify new users against global sanctions lists, including those maintained by the Office of Foreign Assets Control and the United Nations. This approach, Chatterjee said, is aimed at attracting “high-intent customers” who are willing to complete a more detailed onboarding process, including Aadhaar and video verification.

“Somebody would do that only if they’re interested in using the product. So, this full KYC customer onboarded is going to be my customer metric,” she noted.

“In a country like India, once you list yourself on the App Store, sheer curiosity drives downloads,” she said. “That’s not our metric of success.”

The fintech also aims to measure its success in India by the depth of user engagement and profitability and not merely increasing its user base.

“There are people who talk about having 300–400 million customers,” Chatterjee told TechCrunch. “Revolut globally in 39 countries has 65 million customers, and it is valued at $75 billion. The reason is that from these 65 million customers, Revolut is processing more than $4 billion worth of transactions and delivering more than a billion dollars worth of profit. And that is because out of those 65 million customers in any given month, more than 25 million customers are active.”

She’s referring to the the new valuation Revolut announced last month on the back of a secondary share sale, that boosted it from $45 billion last summer.

Revolut already has a waitlist of more than 350,000 people in India, she also said, which it plans to onboard by later this year before opening the app to new users. The exact launch timeline, however, will depend on how quickly the company clears the waitlist and customers complete their KYC and anti–money laundering (AML) checks.

The startup is also exploring partners other than Visa, including the Indian government’s RuPay, as it ramps up the product to provide customers with a choice of networks.

Revolut has already infused $45 million in India to kickstart its operations and to localize its entire tech stack to conform to the country’s data sovereignty regulations. It plans to invest more as it begins its operations, Chatterjee said.

Of Revolut’s 10,000 employees worldwide, about 3,500 are already based in India — its largest workforce globally, even bigger than in its home market of the U.K. Some of these employees also work on the products and features available in markets outside India.

But as significant as Revolut’s plans are, it will still face competition once it arrives. While foreign exchange is dominated by banks in India, fintech players such as Niyo, Scapia, Fi, and BookMyForex are already active in India’s cross-border and remittance market.

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#Revolut #aims #Indian #banks #criminal #forex #fees #TechCrunch

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Critical coverage usually draws an angry email or two. For Ina and David Steiner, it led to live cockroaches, a fetal pig, and a bloody Halloween mask.

On Monday, July 27, eBay and several former executives agreed to pay $55.7 million to resolve the couple’s lawsuit over the 2019 corporate harassment campaign.

The Steiners are the married founders of EcommerceBytes, a news site covering eBay and the broader ecommerce industry. They filed the civil case in 2021 after members of eBay’s security team sent them threats, disturbing packages, and unwanted visitors in an effort to influence the site’s reporting.

Of the $55.7 million settlement, $48.7 million will go directly to the Steiners. EBay will pay $46.15 million, former CEO Devin Wenig will pay $2 million, former senior vice president Wendy Jones will pay $500,000, and former chief communications officer Steve Wymer will pay $50,000. The remaining $7 million will go to nonprofit organizations. EBay will contribute $6 million, while Wenig will donate another $1 million to a group protecting First Amendment rights in Ina Steiner’s name.

The agreement also allows the Steiners to keep talking publicly about the case. It contains no confidentiality provision, a priority for the couple because they wanted the settlement to discourage other corporations from trying to intimidate journalists over critical coverage.

To understand why the Steiners considered that transparency so important, it helps to go back to how the campaign began.

From critical coverage to criminal charges

When eBay’s security team began targeting the Steiners in 2019, the couple had already spent two decades covering the company and other online marketplaces, such as Amazon and Etsy. Through EcommerceBytes, they reported on the issues affecting online sellers, including fees, policy changes, and the executives making those decisions.

The internal lead-up to the campaign only became clear years later — the Steiners initially filed their civil lawsuit in July 2021 and amended it in March 2023. Ina Steiner later told Wired in July 2026 that the litigation gave the couple access to roughly 68,000 documents showing how eBay executives discussed the site behind the scenes.

Those records traced a steady escalation. According to the amended complaint, Wenig sent Wymer a link to an April 10, 2019, EcommerceBytes article about his compensation. Wymer responded, “We are going to crush this lady.”

The following month, Jones allegedly asked eBay security chief Jim Baugh to address criticism of the company “off the radar” and told him she did not want to know the details. Then, on Aug. 1, 2019, EcommerceBytes published an article questioning Wenig’s handling of eBay’s litigation against Amazon. Within half an hour, Wenig allegedly told Wymer that if they were ever going to “take her down,” referring to Ina Steiner, “now is the time.”

Four days later, the harassment campaign allegedly began. According to eBay’s admissions to federal prosecutors, members of its security team targeted the Steiners between Aug. 5 and Aug. 23, 2019. Anonymous accounts on what was then Twitter criticized EcommerceBytes and threatened to show up at the couple’s home in Natick, Massachusetts.

The campaign quickly reached their front door. In addition to the cockroaches, fetal pig, and bloody mask, the group allegedly sent live spiders, fly larvae, a funeral wreath, and a book about surviving the death of a spouse. Pornographic magazines addressed to David were allegedly delivered to a neighbor, while Craigslist ads allegedly invited strangers to the Steiners’ home for sex, a block party, and an estate sale. One night, an emergency plumber even arrived unannounced.

As the messages and deliveries continued, the language inside eBay remained aggressive. On Aug. 11, Wymer allegedly told Baugh, “I want to see ashes. As long as it takes. Whatever it takes.” The group also took the harassment offline — several members of eBay’s security team allegedly traveled from California to Massachusetts, followed the Steiners in a rented van, and attempted to install a GPS tracker on their car.

They also had an unusual plan for how the campaign would end. EBay security manager Brian Gilbert, a former police captain, was allegedly supposed to approach the Steiners and offer to stop the attacks his colleagues were secretly carrying out. EBay would then appear to have solved a problem its own employees had created.

That plan unraveled when the Steiners realized they were being followed and contacted local police. Once members of the group learned they were under investigation, they allegedly made false statements, deleted digital evidence, and falsified records in an attempt to hide eBay’s involvement.

Wenig, Wymer, and Jones were not criminally charged, and Wenig has maintained that he was requesting a communications response and knew nothing about the harassment. EBay’s internal investigation found his messages inappropriate but said it uncovered no evidence that he authorized the security team’s actions.

Federal prosecutors eventually charged seven former eBay employees and contractors in 2020, all of whom eventually pleaded guilty. Four received prison sentences between July 2021 and October 2022, including Baugh, who was sentenced to 57 months in September 2022. Two others received one year of home confinement later that year. The final defendant, Gilbert, was sentenced in July 2024 to time served and one year of supervised release.

The consequences also reached eBay itself. In January 2024, federal prosecutors charged the company with six felony offenses, including stalking, witness tampering, and obstruction of justice. EBay admitted to a detailed account of the campaign, paid the maximum penalty of $3 million, and agreed to retain an independent compliance monitor for three years.

The new settlement, though, resolves the Steiners’ civil claims against eBay, Wenig, Jones, and Wymer. The couple also reached separate settlements with the other former employees named in the lawsuit, although those terms were not disclosed.

EBay says it has changed

In a public statement published July 28, 2026, eBay called what happened “wrong, reprehensible and should never have happened.” The company condemned the employees who pleaded guilty and acknowledged the “unprofessional tone” of messages involving Wenig, Wymer, and Jones.

EBay said new leaders have joined the company since 2019 and that it has strengthened its policies, internal controls, and employee training. Wenig has continued to maintain that he knew nothing about the campaign, saying through a representative that he was saddened it happened while he was CEO.

After the packages, threats, surveillance, criminal cases, and six years of litigation, the campaign still failed at its original goal. EcommerceBytes remains online, and Ina Steiner got to publish the news of eBay’s settlement herself. Talk about closure!

#EBay #pay #million #journalists #cyberstalking #case">EBay to pay .7 million in journalists’ cyberstalking case Critical coverage usually draws an angry email or two. For Ina and David Steiner, it led to live cockroaches, a fetal pig, and a bloody Halloween mask.On Monday, July 27, eBay and several former executives agreed to pay .7 million to resolve the couple’s lawsuit over the 2019 corporate harassment campaign.The Steiners are the married founders of EcommerceBytes, a news site covering eBay and the broader ecommerce industry. They filed the civil case in 2021 after members of eBay’s security team sent them threats, disturbing packages, and unwanted visitors in an effort to influence the site’s reporting. Of the .7 million settlement, .7 million will go directly to the Steiners. EBay will pay .15 million, former CEO Devin Wenig will pay million, former senior vice president Wendy Jones will pay 0,000, and former chief communications officer Steve Wymer will pay ,000. The remaining million will go to nonprofit organizations. EBay will contribute million, while Wenig will donate another million to a group protecting First Amendment rights in Ina Steiner’s name.The agreement also allows the Steiners to keep talking publicly about the case. It contains no confidentiality provision, a priority for the couple because they wanted the settlement to discourage other corporations from trying to intimidate journalists over critical coverage.To understand why the Steiners considered that transparency so important, it helps to go back to how the campaign began.From critical coverage to criminal chargesWhen eBay’s security team began targeting the Steiners in 2019, the couple had already spent two decades covering the company and other online marketplaces, such as Amazon and Etsy. Through EcommerceBytes, they reported on the issues affecting online sellers, including fees, policy changes, and the executives making those decisions.The internal lead-up to the campaign only became clear years later — the Steiners initially filed their civil lawsuit in July 2021 and amended it in March 2023. Ina Steiner later told Wired in July 2026 that the litigation gave the couple access to roughly 68,000 documents showing how eBay executives discussed the site behind the scenes.Those records traced a steady escalation. According to the amended complaint, Wenig sent Wymer a link to an April 10, 2019, EcommerceBytes article about his compensation. Wymer responded, “We are going to crush this lady.” Mashable Light Speed The following month, Jones allegedly asked eBay security chief Jim Baugh to address criticism of the company “off the radar” and told him she did not want to know the details. Then, on Aug. 1, 2019, EcommerceBytes published an article questioning Wenig’s handling of eBay’s litigation against Amazon. Within half an hour, Wenig allegedly told Wymer that if they were ever going to “take her down,” referring to Ina Steiner, “now is the time.” This Tweet is currently unavailable. It might be loading or has been removed. Four days later, the harassment campaign allegedly began. According to eBay’s admissions to federal prosecutors, members of its security team targeted the Steiners between Aug. 5 and Aug. 23, 2019. Anonymous accounts on what was then Twitter criticized EcommerceBytes and threatened to show up at the couple’s home in Natick, Massachusetts.The campaign quickly reached their front door. In addition to the cockroaches, fetal pig, and bloody mask, the group allegedly sent live spiders, fly larvae, a funeral wreath, and a book about surviving the death of a spouse. Pornographic magazines addressed to David were allegedly delivered to a neighbor, while Craigslist ads allegedly invited strangers to the Steiners’ home for sex, a block party, and an estate sale. One night, an emergency plumber even arrived unannounced.As the messages and deliveries continued, the language inside eBay remained aggressive. On Aug. 11, Wymer allegedly told Baugh, “I want to see ashes. As long as it takes. Whatever it takes.” The group also took the harassment offline — several members of eBay’s security team allegedly traveled from California to Massachusetts, followed the Steiners in a rented van, and attempted to install a GPS tracker on their car. This Tweet is currently unavailable. It might be loading or has been removed. They also had an unusual plan for how the campaign would end. EBay security manager Brian Gilbert, a former police captain, was allegedly supposed to approach the Steiners and offer to stop the attacks his colleagues were secretly carrying out. EBay would then appear to have solved a problem its own employees had created.That plan unraveled when the Steiners realized they were being followed and contacted local police. Once members of the group learned they were under investigation, they allegedly made false statements, deleted digital evidence, and falsified records in an attempt to hide eBay’s involvement. This Tweet is currently unavailable. It might be loading or has been removed. Wenig, Wymer, and Jones were not criminally charged, and Wenig has maintained that he was requesting a communications response and knew nothing about the harassment. EBay’s internal investigation found his messages inappropriate but said it uncovered no evidence that he authorized the security team’s actions.Federal prosecutors eventually charged seven former eBay employees and contractors in 2020, all of whom eventually pleaded guilty. Four received prison sentences between July 2021 and October 2022, including Baugh, who was sentenced to 57 months in September 2022. Two others received one year of home confinement later that year. The final defendant, Gilbert, was sentenced in July 2024 to time served and one year of supervised release. This Tweet is currently unavailable. It might be loading or has been removed. The consequences also reached eBay itself. In January 2024, federal prosecutors charged the company with six felony offenses, including stalking, witness tampering, and obstruction of justice. EBay admitted to a detailed account of the campaign, paid the maximum penalty of million, and agreed to retain an independent compliance monitor for three years.The new settlement, though, resolves the Steiners’ civil claims against eBay, Wenig, Jones, and Wymer. The couple also reached separate settlements with the other former employees named in the lawsuit, although those terms were not disclosed.EBay says it has changedIn a public statement published July 28, 2026, eBay called what happened “wrong, reprehensible and should never have happened.” The company condemned the employees who pleaded guilty and acknowledged the “unprofessional tone” of messages involving Wenig, Wymer, and Jones.EBay said new leaders have joined the company since 2019 and that it has strengthened its policies, internal controls, and employee training. Wenig has continued to maintain that he knew nothing about the campaign, saying through a representative that he was saddened it happened while he was CEO.After the packages, threats, surveillance, criminal cases, and six years of litigation, the campaign still failed at its original goal. EcommerceBytes remains online, and Ina Steiner got to publish the news of eBay’s settlement herself. Talk about closure! #EBay #pay #million #journalists #cyberstalking #case

eBay and several former executives agreed to pay $55.7 million to resolve the couple’s lawsuit over the 2019 corporate harassment campaign.

The Steiners are the married founders of EcommerceBytes, a news site covering eBay and the broader ecommerce industry. They filed the civil case in 2021 after members of eBay’s security team sent them threats, disturbing packages, and unwanted visitors in an effort to influence the site’s reporting.

Of the $55.7 million settlement, $48.7 million will go directly to the Steiners. EBay will pay $46.15 million, former CEO Devin Wenig will pay $2 million, former senior vice president Wendy Jones will pay $500,000, and former chief communications officer Steve Wymer will pay $50,000. The remaining $7 million will go to nonprofit organizations. EBay will contribute $6 million, while Wenig will donate another $1 million to a group protecting First Amendment rights in Ina Steiner’s name.

The agreement also allows the Steiners to keep talking publicly about the case. It contains no confidentiality provision, a priority for the couple because they wanted the settlement to discourage other corporations from trying to intimidate journalists over critical coverage.

To understand why the Steiners considered that transparency so important, it helps to go back to how the campaign began.

From critical coverage to criminal charges

When eBay’s security team began targeting the Steiners in 2019, the couple had already spent two decades covering the company and other online marketplaces, such as Amazon and Etsy. Through EcommerceBytes, they reported on the issues affecting online sellers, including fees, policy changes, and the executives making those decisions.

The internal lead-up to the campaign only became clear years later — the Steiners initially filed their civil lawsuit in July 2021 and amended it in March 2023. Ina Steiner later told Wired in July 2026 that the litigation gave the couple access to roughly 68,000 documents showing how eBay executives discussed the site behind the scenes.

Those records traced a steady escalation. According to the amended complaint, Wenig sent Wymer a link to an April 10, 2019, EcommerceBytes article about his compensation. Wymer responded, “We are going to crush this lady.”

The following month, Jones allegedly asked eBay security chief Jim Baugh to address criticism of the company “off the radar” and told him she did not want to know the details. Then, on Aug. 1, 2019, EcommerceBytes published an article questioning Wenig’s handling of eBay’s litigation against Amazon. Within half an hour, Wenig allegedly told Wymer that if they were ever going to “take her down,” referring to Ina Steiner, “now is the time.”

Four days later, the harassment campaign allegedly began. According to eBay’s admissions to federal prosecutors, members of its security team targeted the Steiners between Aug. 5 and Aug. 23, 2019. Anonymous accounts on what was then Twitter criticized EcommerceBytes and threatened to show up at the couple’s home in Natick, Massachusetts.

The campaign quickly reached their front door. In addition to the cockroaches, fetal pig, and bloody mask, the group allegedly sent live spiders, fly larvae, a funeral wreath, and a book about surviving the death of a spouse. Pornographic magazines addressed to David were allegedly delivered to a neighbor, while Craigslist ads allegedly invited strangers to the Steiners’ home for sex, a block party, and an estate sale. One night, an emergency plumber even arrived unannounced.

As the messages and deliveries continued, the language inside eBay remained aggressive. On Aug. 11, Wymer allegedly told Baugh, “I want to see ashes. As long as it takes. Whatever it takes.” The group also took the harassment offline — several members of eBay’s security team allegedly traveled from California to Massachusetts, followed the Steiners in a rented van, and attempted to install a GPS tracker on their car.

They also had an unusual plan for how the campaign would end. EBay security manager Brian Gilbert, a former police captain, was allegedly supposed to approach the Steiners and offer to stop the attacks his colleagues were secretly carrying out. EBay would then appear to have solved a problem its own employees had created.

That plan unraveled when the Steiners realized they were being followed and contacted local police. Once members of the group learned they were under investigation, they allegedly made false statements, deleted digital evidence, and falsified records in an attempt to hide eBay’s involvement.

Wenig, Wymer, and Jones were not criminally charged, and Wenig has maintained that he was requesting a communications response and knew nothing about the harassment. EBay’s internal investigation found his messages inappropriate but said it uncovered no evidence that he authorized the security team’s actions.

Federal prosecutors eventually charged seven former eBay employees and contractors in 2020, all of whom eventually pleaded guilty. Four received prison sentences between July 2021 and October 2022, including Baugh, who was sentenced to 57 months in September 2022. Two others received one year of home confinement later that year. The final defendant, Gilbert, was sentenced in July 2024 to time served and one year of supervised release.

The consequences also reached eBay itself. In January 2024, federal prosecutors charged the company with six felony offenses, including stalking, witness tampering, and obstruction of justice. EBay admitted to a detailed account of the campaign, paid the maximum penalty of $3 million, and agreed to retain an independent compliance monitor for three years.

The new settlement, though, resolves the Steiners’ civil claims against eBay, Wenig, Jones, and Wymer. The couple also reached separate settlements with the other former employees named in the lawsuit, although those terms were not disclosed.

EBay says it has changed

In a public statement published July 28, 2026, eBay called what happened “wrong, reprehensible and should never have happened.” The company condemned the employees who pleaded guilty and acknowledged the “unprofessional tone” of messages involving Wenig, Wymer, and Jones.

EBay said new leaders have joined the company since 2019 and that it has strengthened its policies, internal controls, and employee training. Wenig has continued to maintain that he knew nothing about the campaign, saying through a representative that he was saddened it happened while he was CEO.

After the packages, threats, surveillance, criminal cases, and six years of litigation, the campaign still failed at its original goal. EcommerceBytes remains online, and Ina Steiner got to publish the news of eBay’s settlement herself. Talk about closure!

#EBay #pay #million #journalists #cyberstalking #case">EBay to pay $55.7 million in journalists’ cyberstalking case

Critical coverage usually draws an angry email or two. For Ina and David Steiner, it led to live cockroaches, a fetal pig, and a bloody Halloween mask.

On Monday, July 27, eBay and several former executives agreed to pay $55.7 million to resolve the couple’s lawsuit over the 2019 corporate harassment campaign.

The Steiners are the married founders of EcommerceBytes, a news site covering eBay and the broader ecommerce industry. They filed the civil case in 2021 after members of eBay’s security team sent them threats, disturbing packages, and unwanted visitors in an effort to influence the site’s reporting.

Of the $55.7 million settlement, $48.7 million will go directly to the Steiners. EBay will pay $46.15 million, former CEO Devin Wenig will pay $2 million, former senior vice president Wendy Jones will pay $500,000, and former chief communications officer Steve Wymer will pay $50,000. The remaining $7 million will go to nonprofit organizations. EBay will contribute $6 million, while Wenig will donate another $1 million to a group protecting First Amendment rights in Ina Steiner’s name.

The agreement also allows the Steiners to keep talking publicly about the case. It contains no confidentiality provision, a priority for the couple because they wanted the settlement to discourage other corporations from trying to intimidate journalists over critical coverage.

To understand why the Steiners considered that transparency so important, it helps to go back to how the campaign began.

From critical coverage to criminal charges

When eBay’s security team began targeting the Steiners in 2019, the couple had already spent two decades covering the company and other online marketplaces, such as Amazon and Etsy. Through EcommerceBytes, they reported on the issues affecting online sellers, including fees, policy changes, and the executives making those decisions.

The internal lead-up to the campaign only became clear years later — the Steiners initially filed their civil lawsuit in July 2021 and amended it in March 2023. Ina Steiner later told Wired in July 2026 that the litigation gave the couple access to roughly 68,000 documents showing how eBay executives discussed the site behind the scenes.

Those records traced a steady escalation. According to the amended complaint, Wenig sent Wymer a link to an April 10, 2019, EcommerceBytes article about his compensation. Wymer responded, “We are going to crush this lady.”

The following month, Jones allegedly asked eBay security chief Jim Baugh to address criticism of the company “off the radar” and told him she did not want to know the details. Then, on Aug. 1, 2019, EcommerceBytes published an article questioning Wenig’s handling of eBay’s litigation against Amazon. Within half an hour, Wenig allegedly told Wymer that if they were ever going to “take her down,” referring to Ina Steiner, “now is the time.”

Four days later, the harassment campaign allegedly began. According to eBay’s admissions to federal prosecutors, members of its security team targeted the Steiners between Aug. 5 and Aug. 23, 2019. Anonymous accounts on what was then Twitter criticized EcommerceBytes and threatened to show up at the couple’s home in Natick, Massachusetts.

The campaign quickly reached their front door. In addition to the cockroaches, fetal pig, and bloody mask, the group allegedly sent live spiders, fly larvae, a funeral wreath, and a book about surviving the death of a spouse. Pornographic magazines addressed to David were allegedly delivered to a neighbor, while Craigslist ads allegedly invited strangers to the Steiners’ home for sex, a block party, and an estate sale. One night, an emergency plumber even arrived unannounced.

As the messages and deliveries continued, the language inside eBay remained aggressive. On Aug. 11, Wymer allegedly told Baugh, “I want to see ashes. As long as it takes. Whatever it takes.” The group also took the harassment offline — several members of eBay’s security team allegedly traveled from California to Massachusetts, followed the Steiners in a rented van, and attempted to install a GPS tracker on their car.

They also had an unusual plan for how the campaign would end. EBay security manager Brian Gilbert, a former police captain, was allegedly supposed to approach the Steiners and offer to stop the attacks his colleagues were secretly carrying out. EBay would then appear to have solved a problem its own employees had created.

That plan unraveled when the Steiners realized they were being followed and contacted local police. Once members of the group learned they were under investigation, they allegedly made false statements, deleted digital evidence, and falsified records in an attempt to hide eBay’s involvement.

Wenig, Wymer, and Jones were not criminally charged, and Wenig has maintained that he was requesting a communications response and knew nothing about the harassment. EBay’s internal investigation found his messages inappropriate but said it uncovered no evidence that he authorized the security team’s actions.

Federal prosecutors eventually charged seven former eBay employees and contractors in 2020, all of whom eventually pleaded guilty. Four received prison sentences between July 2021 and October 2022, including Baugh, who was sentenced to 57 months in September 2022. Two others received one year of home confinement later that year. The final defendant, Gilbert, was sentenced in July 2024 to time served and one year of supervised release.

The consequences also reached eBay itself. In January 2024, federal prosecutors charged the company with six felony offenses, including stalking, witness tampering, and obstruction of justice. EBay admitted to a detailed account of the campaign, paid the maximum penalty of $3 million, and agreed to retain an independent compliance monitor for three years.

The new settlement, though, resolves the Steiners’ civil claims against eBay, Wenig, Jones, and Wymer. The couple also reached separate settlements with the other former employees named in the lawsuit, although those terms were not disclosed.

EBay says it has changed

In a public statement published July 28, 2026, eBay called what happened “wrong, reprehensible and should never have happened.” The company condemned the employees who pleaded guilty and acknowledged the “unprofessional tone” of messages involving Wenig, Wymer, and Jones.

EBay said new leaders have joined the company since 2019 and that it has strengthened its policies, internal controls, and employee training. Wenig has continued to maintain that he knew nothing about the campaign, saying through a representative that he was saddened it happened while he was CEO.

After the packages, threats, surveillance, criminal cases, and six years of litigation, the campaign still failed at its original goal. EcommerceBytes remains online, and Ina Steiner got to publish the news of eBay’s settlement herself. Talk about closure!

#EBay #pay #million #journalists #cyberstalking #case

In its decision, the NHTSA says it determined that Zoox robotaxis “have an equivalent or greater level of motor vehicle safety” compared to vehicles compliant with federal vehicle safety standards. Under the exemption, Zoox will be subject to “an enhanced oversight condition” that “may update and expand” as the company’s self-driving technology evolves. Zoox issued a software recall for its vehicles earlier this month over concerns that they may not detect smoke.

#Zoox #charge #rides #steeringwheelfree #robotaxisAmazon,Autonomous Cars,Electric Cars,News,Tech,Transportation">Zoox can now charge for rides in its steering-wheel-free robotaxisZoox just got permission to charge for robotaxi rides in its boxy, steering-wheel-less vehicles. On Thursday, the National Highway Traffic Safety Administration announced it has granted the Amazon-owned Zoox a temporary exemption, allowing it to deploy up to 2,500 vehicles annually over the next two years, as reported earlier by Reuters.In its decision, the NHTSA says it determined that Zoox robotaxis “have an equivalent or greater level of motor vehicle safety” compared to vehicles compliant with federal vehicle safety standards. Under the exemption, Zoox will be subject to “an enhanced oversight condition” that “may update and expand” as the company’s self-driving technology evolves. Zoox issued a software recall for its vehicles earlier this month over concerns that they may not detect smoke.#Zoox #charge #rides #steeringwheelfree #robotaxisAmazon,Autonomous Cars,Electric Cars,News,Tech,Transportation

announced it has granted the Amazon-owned Zoox a temporary exemption, allowing it to deploy up to 2,500 vehicles annually over the next two years, as reported earlier by Reuters.

In its decision, the NHTSA says it determined that Zoox robotaxis “have an equivalent or greater level of motor vehicle safety” compared to vehicles compliant with federal vehicle safety standards. Under the exemption, Zoox will be subject to “an enhanced oversight condition” that “may update and expand” as the company’s self-driving technology evolves. Zoox issued a software recall for its vehicles earlier this month over concerns that they may not detect smoke.

#Zoox #charge #rides #steeringwheelfree #robotaxisAmazon,Autonomous Cars,Electric Cars,News,Tech,Transportation">Zoox can now charge for rides in its steering-wheel-free robotaxis

Zoox just got permission to charge for robotaxi rides in its boxy, steering-wheel-less vehicles. On Thursday, the National Highway Traffic Safety Administration announced it has granted the Amazon-owned Zoox a temporary exemption, allowing it to deploy up to 2,500 vehicles annually over the next two years, as reported earlier by Reuters.

In its decision, the NHTSA says it determined that Zoox robotaxis “have an equivalent or greater level of motor vehicle safety” compared to vehicles compliant with federal vehicle safety standards. Under the exemption, Zoox will be subject to “an enhanced oversight condition” that “may update and expand” as the company’s self-driving technology evolves. Zoox issued a software recall for its vehicles earlier this month over concerns that they may not detect smoke.

#Zoox #charge #rides #steeringwheelfree #robotaxisAmazon,Autonomous Cars,Electric Cars,News,Tech,Transportation
Microsoft is in a unique position as AI overtakes the tech industry. It’s one of the world’s largest cloud providers and software-as-a-service companies, while also holding valuable stakes in the two biggest AI labs, OpenAI and Anthropic.

Those incentives are starting to clash as Microsoft posts blockbuster financial results. The company just reported an extremely profitable quarter with $90 billion in revenue and net income of $35.8 billion. For the fiscal year, which ended June 30, Microsoft reported $331.8 billion in revenue with a net income of $133.7 billion for the year.

And CEO Satya Nadella is not about to let the trajectory of Anthropic and OpenAI — which are expanding into applications and agentic infrastructure that could ultimately let them own customer relationships — derail that kind of cash.

Nadella has been preaching to enterprises to use multiple models and to stop relying on the frontier AI labs for the agentic harness/app layer.

Doing so is dangerous, he’s been saying, because it requires companies to share too many of their internal secrets with model makers of dubious trustworthiness. He knows his customers. Enterprise IT fears both data leaks and being locked into a vendor.

Now he has openly told Wall Street analysts during the company’s quarterly conference call Wednesday that this is an opportunity for Microsoft to sell customers its own homegrown models, alongside agents, AI security and more, while promising lower costs.

In other words, he’s pitching Microsoft as an alternative to many of the upscale services that OpenAI and Anthropic are developing for their own growth.

When UBS analyst Karl Keirstead specifically asked Nadella to weigh in on the open vs. closed-sourced debate roiling the AI industry, and how Microsoft will benefit from it, Nadella came out swinging.

“The goal is to have the firm be in control of their own destiny,” the CEO said of enterprises. “We are very, very clear about the architectural sort of design of the platform, which is you got to keep your harness separate from the model … that means any model at any given time is swappable.”

Microsoft, of course, sells a menu of harnesses (aka AI agents), too, under the Copilot name, including its coding agent GitHub Copilot. Coding agents are where much of the AI dollars are being spent today.

And he used the high-profile incident from last week as proof of his warnings.

“If you look even at the Hugging Face incident, the biggest thing that we should take away from that is you can’t sort of depend on any one model,” Nadella said. “You will maybe need multiple models to even remediate some challenges that get caused by one model. Like that’s the way to think about it, right? Which is you can’t be subject to a refusal of one model.”

The incident involved an unreleased model from OpenAI breaking out of its sandbox and successfully mounting a full-scale hack on Hugging Face, all in pursuit of besting a benchmark. Trying to understand what happened, Hugging Face at first tried to use a private frontier model (which it hasn’t named) that refused to help it. So it turned to the Chinese open-source model Z.ai GLM 5.2 to analyze logs and defend its infrastructure. The incident has so shocked the industry that even Sam Altman is now saying that maybe AI development should slow down a bit.

Nadella also made clear that Microsoft is happily selling its own homegrown models, the MAI family, on its own homegrown AI chips, Maya, and pitching them as cheaper alternatives.

“Every customer wants the right model for each task based on quality, latency, cost, and compliance. We offer the broadest model catalog in the cloud with over 11,000 models, including the leads from OpenAI, Anthropic, Mistral, xAI, as well as our own MAI family,” he said.

He added: “We’re also accelerating our own model development. We announced more than a dozen new models across image, voice, transcription, coding, security, including our first reasoning model, MAI thinking one, all with cost-efficient inference at the core for the enterprise use cases. We are co-designing these models with our silicon, and we are seeing 40% better performance per watt when running MAI models on Maya 200.”

As for Mythos? Nadella pointed to Microsoft’s new Mythos competitor announced earlier this week, MAI Cyber One Flash. It “achieves better performance than the much larger Mythos model, but at half the cost when combined with our multi-agent security harness,” he said.

Sure, the Microsoft CEO says that enterprises should use the frontier models that OpenAI and Anthropic offer in their mix. But his bigger message is: don’t trust them enough to rely on them.

When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

#Microsoft #openly #competing #OpenAI #Anthropic #TechCrunchMicrosoft">Microsoft is openly competing with OpenAI, Anthropic more than ever | TechCrunch Microsoft is in a unique position as AI overtakes the tech industry. It’s one of the world’s largest cloud providers and software-as-a-service companies, while also holding valuable stakes in the two biggest AI labs, OpenAI and Anthropic. Those incentives are starting to clash as Microsoft posts blockbuster financial results. The company just reported an extremely profitable quarter with billion in revenue and net income of .8 billion. For the fiscal year, which ended June 30, Microsoft reported 1.8 billion in revenue with a net income of 3.7 billion for the year. And CEO Satya Nadella is not about to let the trajectory of Anthropic and OpenAI — which are expanding into applications and agentic infrastructure that could ultimately let them own customer relationships — derail that kind of cash. Nadella has been preaching to enterprises to use multiple models and to stop relying on the frontier AI labs for the agentic harness/app layer. Doing so is dangerous, he’s been saying, because it requires companies to share too many of their internal secrets with model makers of dubious trustworthiness. He knows his customers. Enterprise IT fears both data leaks and being locked into a vendor. Now he has openly told Wall Street analysts during the company’s quarterly conference call Wednesday that this is an opportunity for Microsoft to sell customers its own homegrown models, alongside agents, AI security and more, while promising lower costs. In other words, he’s pitching Microsoft as an alternative to many of the upscale services that OpenAI and Anthropic are developing for their own growth. When UBS analyst Karl Keirstead specifically asked Nadella to weigh in on the open vs. closed-sourced debate roiling the AI industry, and how Microsoft will benefit from it, Nadella came out swinging. “The goal is to have the firm be in control of their own destiny,” the CEO said of enterprises. “We are very, very clear about the architectural sort of design of the platform, which is you got to keep your harness separate from the model … that means any model at any given time is swappable.” Microsoft, of course, sells a menu of harnesses (aka AI agents), too, under the Copilot name, including its coding agent GitHub Copilot. Coding agents are where much of the AI dollars are being spent today. And he used the high-profile incident from last week as proof of his warnings. “If you look even at the Hugging Face incident, the biggest thing that we should take away from that is you can’t sort of depend on any one model,” Nadella said. “You will maybe need multiple models to even remediate some challenges that get caused by one model. Like that’s the way to think about it, right? Which is you can’t be subject to a refusal of one model.” The incident involved an unreleased model from OpenAI breaking out of its sandbox and successfully mounting a full-scale hack on Hugging Face, all in pursuit of besting a benchmark. Trying to understand what happened, Hugging Face at first tried to use a private frontier model (which it hasn’t named) that refused to help it. So it turned to the Chinese open-source model Z.ai GLM 5.2 to analyze logs and defend its infrastructure. The incident has so shocked the industry that even Sam Altman is now saying that maybe AI development should slow down a bit. Nadella also made clear that Microsoft is happily selling its own homegrown models, the MAI family, on its own homegrown AI chips, Maya, and pitching them as cheaper alternatives. “Every customer wants the right model for each task based on quality, latency, cost, and compliance. We offer the broadest model catalog in the cloud with over 11,000 models, including the leads from OpenAI, Anthropic, Mistral, xAI, as well as our own MAI family,” he said. He added: “We’re also accelerating our own model development. We announced more than a dozen new models across image, voice, transcription, coding, security, including our first reasoning model, MAI thinking one, all with cost-efficient inference at the core for the enterprise use cases. We are co-designing these models with our silicon, and we are seeing 40% better performance per watt when running MAI models on Maya 200.” As for Mythos? Nadella pointed to Microsoft’s new Mythos competitor announced earlier this week, MAI Cyber One Flash. It “achieves better performance than the much larger Mythos model, but at half the cost when combined with our multi-agent security harness,” he said. Sure, the Microsoft CEO says that enterprises should use the frontier models that OpenAI and Anthropic offer in their mix. But his bigger message is: don’t trust them enough to rely on them. When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.#Microsoft #openly #competing #OpenAI #Anthropic #TechCrunchMicrosoft

valuable stakes in the two biggest AI labs, OpenAI and Anthropic.

Those incentives are starting to clash as Microsoft posts blockbuster financial results. The company just reported an extremely profitable quarter with $90 billion in revenue and net income of $35.8 billion. For the fiscal year, which ended June 30, Microsoft reported $331.8 billion in revenue with a net income of $133.7 billion for the year.

And CEO Satya Nadella is not about to let the trajectory of Anthropic and OpenAI — which are expanding into applications and agentic infrastructure that could ultimately let them own customer relationships — derail that kind of cash.

Nadella has been preaching to enterprises to use multiple models and to stop relying on the frontier AI labs for the agentic harness/app layer.

Doing so is dangerous, he’s been saying, because it requires companies to share too many of their internal secrets with model makers of dubious trustworthiness. He knows his customers. Enterprise IT fears both data leaks and being locked into a vendor.

Now he has openly told Wall Street analysts during the company’s quarterly conference call Wednesday that this is an opportunity for Microsoft to sell customers its own homegrown models, alongside agents, AI security and more, while promising lower costs.

In other words, he’s pitching Microsoft as an alternative to many of the upscale services that OpenAI and Anthropic are developing for their own growth.

When UBS analyst Karl Keirstead specifically asked Nadella to weigh in on the open vs. closed-sourced debate roiling the AI industry, and how Microsoft will benefit from it, Nadella came out swinging.

“The goal is to have the firm be in control of their own destiny,” the CEO said of enterprises. “We are very, very clear about the architectural sort of design of the platform, which is you got to keep your harness separate from the model … that means any model at any given time is swappable.”

Microsoft, of course, sells a menu of harnesses (aka AI agents), too, under the Copilot name, including its coding agent GitHub Copilot. Coding agents are where much of the AI dollars are being spent today.

And he used the high-profile incident from last week as proof of his warnings.

“If you look even at the Hugging Face incident, the biggest thing that we should take away from that is you can’t sort of depend on any one model,” Nadella said. “You will maybe need multiple models to even remediate some challenges that get caused by one model. Like that’s the way to think about it, right? Which is you can’t be subject to a refusal of one model.”

The incident involved an unreleased model from OpenAI breaking out of its sandbox and successfully mounting a full-scale hack on Hugging Face, all in pursuit of besting a benchmark. Trying to understand what happened, Hugging Face at first tried to use a private frontier model (which it hasn’t named) that refused to help it. So it turned to the Chinese open-source model Z.ai GLM 5.2 to analyze logs and defend its infrastructure. The incident has so shocked the industry that even Sam Altman is now saying that maybe AI development should slow down a bit.

Nadella also made clear that Microsoft is happily selling its own homegrown models, the MAI family, on its own homegrown AI chips, Maya, and pitching them as cheaper alternatives.

“Every customer wants the right model for each task based on quality, latency, cost, and compliance. We offer the broadest model catalog in the cloud with over 11,000 models, including the leads from OpenAI, Anthropic, Mistral, xAI, as well as our own MAI family,” he said.

He added: “We’re also accelerating our own model development. We announced more than a dozen new models across image, voice, transcription, coding, security, including our first reasoning model, MAI thinking one, all with cost-efficient inference at the core for the enterprise use cases. We are co-designing these models with our silicon, and we are seeing 40% better performance per watt when running MAI models on Maya 200.”

As for Mythos? Nadella pointed to Microsoft’s new Mythos competitor announced earlier this week, MAI Cyber One Flash. It “achieves better performance than the much larger Mythos model, but at half the cost when combined with our multi-agent security harness,” he said.

Sure, the Microsoft CEO says that enterprises should use the frontier models that OpenAI and Anthropic offer in their mix. But his bigger message is: don’t trust them enough to rely on them.

When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

#Microsoft #openly #competing #OpenAI #Anthropic #TechCrunchMicrosoft">Microsoft is openly competing with OpenAI, Anthropic more than ever | TechCrunch

Microsoft is in a unique position as AI overtakes the tech industry. It’s one of the world’s largest cloud providers and software-as-a-service companies, while also holding valuable stakes in the two biggest AI labs, OpenAI and Anthropic.

Those incentives are starting to clash as Microsoft posts blockbuster financial results. The company just reported an extremely profitable quarter with $90 billion in revenue and net income of $35.8 billion. For the fiscal year, which ended June 30, Microsoft reported $331.8 billion in revenue with a net income of $133.7 billion for the year.

And CEO Satya Nadella is not about to let the trajectory of Anthropic and OpenAI — which are expanding into applications and agentic infrastructure that could ultimately let them own customer relationships — derail that kind of cash.

Nadella has been preaching to enterprises to use multiple models and to stop relying on the frontier AI labs for the agentic harness/app layer.

Doing so is dangerous, he’s been saying, because it requires companies to share too many of their internal secrets with model makers of dubious trustworthiness. He knows his customers. Enterprise IT fears both data leaks and being locked into a vendor.

Now he has openly told Wall Street analysts during the company’s quarterly conference call Wednesday that this is an opportunity for Microsoft to sell customers its own homegrown models, alongside agents, AI security and more, while promising lower costs.

In other words, he’s pitching Microsoft as an alternative to many of the upscale services that OpenAI and Anthropic are developing for their own growth.

When UBS analyst Karl Keirstead specifically asked Nadella to weigh in on the open vs. closed-sourced debate roiling the AI industry, and how Microsoft will benefit from it, Nadella came out swinging.

“The goal is to have the firm be in control of their own destiny,” the CEO said of enterprises. “We are very, very clear about the architectural sort of design of the platform, which is you got to keep your harness separate from the model … that means any model at any given time is swappable.”

Microsoft, of course, sells a menu of harnesses (aka AI agents), too, under the Copilot name, including its coding agent GitHub Copilot. Coding agents are where much of the AI dollars are being spent today.

And he used the high-profile incident from last week as proof of his warnings.

“If you look even at the Hugging Face incident, the biggest thing that we should take away from that is you can’t sort of depend on any one model,” Nadella said. “You will maybe need multiple models to even remediate some challenges that get caused by one model. Like that’s the way to think about it, right? Which is you can’t be subject to a refusal of one model.”

The incident involved an unreleased model from OpenAI breaking out of its sandbox and successfully mounting a full-scale hack on Hugging Face, all in pursuit of besting a benchmark. Trying to understand what happened, Hugging Face at first tried to use a private frontier model (which it hasn’t named) that refused to help it. So it turned to the Chinese open-source model Z.ai GLM 5.2 to analyze logs and defend its infrastructure. The incident has so shocked the industry that even Sam Altman is now saying that maybe AI development should slow down a bit.

Nadella also made clear that Microsoft is happily selling its own homegrown models, the MAI family, on its own homegrown AI chips, Maya, and pitching them as cheaper alternatives.

“Every customer wants the right model for each task based on quality, latency, cost, and compliance. We offer the broadest model catalog in the cloud with over 11,000 models, including the leads from OpenAI, Anthropic, Mistral, xAI, as well as our own MAI family,” he said.

He added: “We’re also accelerating our own model development. We announced more than a dozen new models across image, voice, transcription, coding, security, including our first reasoning model, MAI thinking one, all with cost-efficient inference at the core for the enterprise use cases. We are co-designing these models with our silicon, and we are seeing 40% better performance per watt when running MAI models on Maya 200.”

As for Mythos? Nadella pointed to Microsoft’s new Mythos competitor announced earlier this week, MAI Cyber One Flash. It “achieves better performance than the much larger Mythos model, but at half the cost when combined with our multi-agent security harness,” he said.

Sure, the Microsoft CEO says that enterprises should use the frontier models that OpenAI and Anthropic offer in their mix. But his bigger message is: don’t trust them enough to rely on them.

When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

#Microsoft #openly #competing #OpenAI #Anthropic #TechCrunchMicrosoft

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