Share trading app Robinhood suffered a massive backlash in March when it suffered two major service outages just as COVID-19 was wreaking havoc on the markets. Now some users complain that it has happened again.
In a report from TechCrunch, some users have reported on Twitter that the trading platform was down during early morning trading even though the FinTech unicorn’s status page reported that all systems were operational.
A spokesperson referred TechCrunch to a tweet that said Robinhood had “had a brief issue where your app was delayed in displaying order updates” but that this issue “has since been fixed so you should not have any issues placing your orders going forward.”
The story comes on the back of Robinhood suffering two big outages within as many weeks in March. The service dropout meant users were left unable to access into their accounts and make deals during some of the busiest trading days in recent years.
In a public apology following the first outage in March, founders and co-CEOs Baiju Bhatt and Vladimir Tenev stated that the system had basically been overloaded because of the massive jump on activity, which led to a “thundering herd” effect that triggered a failure on Robinhood’s DNS systems.
“When it comes to your money, we know how important it is for you to have answers,” Bhatt and Tenev stated. “The outages you have experienced over the last two days are not acceptable and we want to share an update on the current situation.”
At the time, some even suggested that the service outage could be cause for instigating a class action lawsuit. However, several legal experts said that launching one would be basically pointless.
According to TechCrunch, Robinhood said that it will deal with the users’ issues from the previous blackouts on a case by case basis.
The news about the users complaining about the services not working again comes on the back of Robinhood raising $280m in in a Series F round earlier in May. The new capital injection saw Robinhood achieve a valuation of $8.3bn. It would use the cash to scale the platform, build new products and hire more staff.
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