Shein Reportedly Doubled Annual Profit to $2 Billion
The company is awaiting regulatory approval for a U.S.-based IPO.
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Senate Reportedly Expected to Push for Changes to House TikTok Bill
Any changes would likely slow the passage of the bill, which sailed through the House earlier this month.
Canadian Schools Sue Meta, Snap, ByteDance
Four school boards in Canada Wednesday sued the social media companies, claiming they have harmed children’s mental health and disrupted the education systems.
Bankman-Fried Sentenced to 25 Years in Prison
The sentence was well below the maximum possible of 110 years.
Karlie Kloss and Josh Kushner to Relaunch Life Magazine
Kloss and Kushner's media company, Bedford, will manage full operations for Life Magazine, including editorial strategy and revenue.
Snap Gives Employees Two Months to Decide to Move Back to Office
The change is the latest sign of how Spiegel is pushing to make Snap’s culture more hardcore as Snap seeks to turn around its sagging business.
Disney Settles Lawsuit With Florida Governor DeSantis
Disney pledged to suspend a fight with the governor in state court while it constructs a new plan for Disney World development with Florida officials.
Canadian Pension Fund PSP To Co-Lead Funding in Cohere at $5 Billion Valuation
With the new capital, Cohere will have raised more than all other LLM startups except for OpenAI, Anthropic and Inflection.
Amazon Confirms $4 Billion Investment in Anthropic
The question is how much of that amount will come back to Amazon as Anthropic rents cloud servers from the company.
Second Proxy Firm Backs Billionaire Nelson Peltz’s Bid for Disney’s Board
Egan-Jones backed Peltz and Trian Fund's other board nominee, citing Disney's struggles with succession planning and "mediocre" business performance.
Reddit Stock Tumbles on Negative Report
Reddit stock has been lifted by perceptions that it will build a big AI data-licensing business.
Hulu Launches as New Tile in Disney+
Disney's decision to integrate Hulu within Disney+ is designed to increase time spent and reduce subscriber churn.
Canva Buys U.K.-Based Affinity, Bolstering Rivalry With Adobe
The U.K. company specializes in software for professional designers.
Microsoft’s Bing and Ads Chief to Depart
Parakhin is leaving after the company appointed Inflection co-founder and CEO Mustafa Suleyman to oversee consumer AI efforts.
FTC Reportedly Investigating TikTok Over Data Security
The investigation further heightens the scrutiny on TikTok, as the Senate considers a bill that would force a divestment or ban of the app.
Amazon Expands Same Day Prescription Delivery to NYC, LA
The announcement will put competitive pressure on pharmacy delivery upstarts, like Capsule and Alto Pharmacy.
Alibaba Scraps Logistics Unit IPO, Offers to Buy Outstanding Shares
The move is yet another blow to Alibaba’s landmark restructuring plan that would have seen the company split into six different units.
U.S. Accuses Seven Chinese Individuals of State Sponsored Hacking
The move is likely to further inflame tensions between the U.S. and China as cyberspace becomes the latest front in their areas of confrontation.
BuzzFeed Revenue Fell 26% in Q4 of 2023
BuzzFeed CEO Jonah Peretti said the sale of Complex Networks helps refocus the company's business around "high-margin" revenue streams.
Abu Dhabi, Other Investors Buy Most of FTX’s Anthropic Stake For $884 Million
The purchase will help FTX's goal of making its customers whole.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
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