News Summary

Rippling has filed a lawsuit against its rival Deel, alleging corporate espionage, and released an affidavit from a Rippling employee who claimed to have worked as a spy. The affidavit included dramatic details, such as instructions from Deel representatives to destroy his “old phone with an axe.” In other news, Plaid, a company that connects bank accounts to financial apps, has sold $575 million in common stock at a $6.1 billion post-money valuation, which is significantly lower than its previous valuation of $13.4 billion during its Series D funding in April 2021.