Amazon Dropping Venmo as a Payment Method
The decision is a blow to Venmo owner PayPal’s efforts to broaden the app’s usage beyond payments between friends.
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The Information AM
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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Recent Editions
Data Center Startup Omniva Emerges From Stealth
Omniva wants to lower the cost of developing artificial intelligence software by designing more efficient data centers for servers that contain AI chips.
SpaceX Valuation Could Surge 17% in New Tender Offer
The size of the offer and other terms haven't been finalized.
AMD Holds Launch Event for AI Chips that Challenge Nvidia
Some of the biggest customers for AMD's new graphics processing units also buy Nvidia’s chips.
OCC Warns Banks of Risks Associated with BNPL Loans
Federal regulators have stepped up their scrutiny of the relationships between banks and fintech firms.
Index Partner Mark Goldberg Leaves to Start Fund
Goldberg, who started at Index in 2015, co-led the firm’s investment in Plaid’s 2018 Series C round.
Bank CEOs Rail Against Capital Rules Before Congress
U.S. banking executives laid out their arguments to a Senate committee on Wednesday on why proposed rules to force them hold more capital would backfire.
New Mexico Lawsuit Accuses Meta of Creating ‘Marketplace for Predators'
The suit, filed Tuesday, comes after a similar action was filed by a group of state attorneys general earlier this year.
ByteDance Offers to Buy Back $5 Billion Worth of Shares From Investors
The offer values ByteDance at $268 billion, down nearly 10% from the $300 billion valuation in a similar buyback program for investors last year.
Boston-based Venture Firm Abruptly Stops New Investments, Cuts Staff
The firm is one of the most vivid examples of the strains on the venture capital industry.
Another Activist Investor Calls for Disney to Add Nelson Peltz to Board
Ancora, a Cleveland-based firm, said Disney should add Nelzon Peltz to its board after the activist investor said he plans to mount a proxy battle.
Rent the Runway Restructures Debt For Second Time In 2023
The clothing rental firm has struggled to boost subscriber numbers this year.
Amazon Slashes Seller Fees on Cheap Apparel
The move coincides with mounting competition from discount online clothing retailers like Shein and Temu.
IPO Candidate Navan Lays Off 145 in Profitability Push
The job cuts come as the eight-year-old company prepares to go public.
Musk’s X.AI to Raise $1 Billion
The artificial intelligence startup disclosed its fundraise in an SEC filing.
TikTok Nears Deal to Revive E-Commerce Service in Indonesia
TikTok's partnership with Indonesia's GoTo comes after the country's new regulation forced the video app to halt its e-commerce service.
Bitcoin Bump Boosts Robinhood Crypto Trading
Rough math suggests the company’s crypto trading was the highest it’s been since Nov. 2022.
Disinformation Scholar Says Harvard Fired her Under Pressure from Meta
Donovan said the shift against her took place as Meta CEO Mark Zuckerberg’s charitable operation was in the process of pledging $500 million to Harvard.
Twilio Lays Off 5% of Workforce
The cuts are the third round of layoffs since September 2022
Amazon Doesn’t Renew U.K. Premier League Rights
Comcast’s Sky Sports and Warner Bros. Discovery’s TNT Sports bought four years of rights for $8.5 billion.
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.
By providing your email, you agree to The Information’s Privacy Policy