Deel caught spying, Monzo makes a billion, Meta makes marketing shares slump, and more.
News from May 29 - June 5, 2025
Deel Caught Spying
HR tech company Deel accused its rival, Rippling, of impersonating a customer to access critical company information. This comes after Rippling accused one of its employees of spying for Deel in March.
In its counter lawsuit, Deel claims one of Rippling’s employees impersonated a customer for six months, gained access to its systems, and recorded and copied Deel’s products. Deel insists it is because Rippling CEO Parker Conrad has a personal feud with the company’s VC backer, Andreessen Horowitz, leading to Rippling spreading false information about their rival.
Deel: “Sadly, it is now apparent that Conrad has made it his life’s goal to exact misguided and petty revenge on those connected with Andreessen, including Deel, in which Andreessen owns a 20% share.”
Monzo Makes a Billion
Monzo made over $1 billion in revenue for the first time since its inception in 2015, marking the company’s first profitable year.
The British fintech unicorn posted a revenue boost of 48%, with pretax profits of £60.5 million up from £13.9 million the previous year. This comes after it increased its customer base by 25%.
The mobile-first bank app wants to expand into Europe and go public in either the UK or the USA, but there is no agreement on where to list its Initial Public Offering (IPO). Sources say the board favours London, while CEO TS Anil favours the USA.
Monzo CEO TS Anil: “We believe we'd make a great public company one day and we're well on the trajectory to doing that when we choose to, but it's just not something we're focused on right now.”
Meta Makes Marketing Shares Slump
Meta will let advertisers on Facebook and Instagram create ads using AI by the end of 2025. The AI tool will create entire ads from scratch, including imagery, video and text, and target users within a client’s allocated budget. Data-driven geolocation targeting will enable the AI tool to personalise ads in line with user interest and offer tailor-made deals.
Upon the news of the rollout on Monday, investors sold shares in some of the world’s biggest marketing companies. Shares in WPP dropped 3%, Publicis Groupe (3.9%) and Havas (3%).
Meta chief marketing officer Alex Schultz: “For these businesses who aren’t able to work with an agency, or don’t have time during their busy days to think about their creative or targeting, that’s where AI can help level the playing field.”
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