Rent the Runway Raises Revenue Guidance, Shares Surge
Rent the Runway share prices surged over 27% as the clothing rental company posted record quarterly revenue and boosted its guidance for the remainder of its fiscal year.
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Binance.US Slashes Some Trading Fees in Land Grab for New Customers
The latest fee cut for Binance.US could help it woo former FTX customers.
Amazon Adds Four Executives to CEO Andy Jassy’s S-Team
The new S-Team members include executives working on media and devices.
Plaid Cuts 20% of Staff After Growth Falls Short
Plaid sells software to other fintech companies, making it a bellwether for the state of fintech as a whole.
U.S. National Security Deal on TikTok Held Up on Security Concerns
An agreement between TikTok and the Biden Administration had been expected by year end, but will be delayed.
Pinterest Adds Elliott Management Executive to its Board
Marc Steinberg is Pinterest’s eighth independent board member and brings the board to 11 people.
BuzzFeed Cuts 12% of Workforce
Like all internet ad firms, BuzzFeed is grappling with a tougher ad market.
Apple Dials Back Ambitions for Self-Driving Vehicle, Delays Debut
Apple faces more blows to its ambitions to expand into the car market with an autonomous vehicle.
Early Stage Startups Are Light on Cash
Most early stage startups have less than a year of runway, according a new study.
EU Ruling Could Limit Meta’s Ad Targeting Ability
The ruling, if upheld, could make it harder for Meta to utilize data showing what users are doing within its apps.
Musk’s Neuralink Under Federal Investigation Over Animal Testing
Pressure from Musk to move fast has reportedly led to bad testing practices
Slack CEO Butterfield to Leave Salesforce Next Month
In another surprising development, Slack CEO and co-founder Stewart Butterfied is heading for the exits along with two other senior Slack leaders.
Pinterest Cuts Recruiting Team, Slows Hiring
The company has been cutting its expenses and recently ended a creator rewards program.
Influencer Marketing Startup Grin Lays Off 60 Employees
CEO Brandon Brown cites “challenges in execution” as a reason for its cuts.
USDC Issuer Circle Scraps $9 Billion SPAC Deal
Circle generated $274 million in total revenue, including USDC interest income, in the third quarter, up nearly 14 times from $19.6 million a year ago.
E-Commerce Firm Rokt Sells Shares in Secondary Deal at $2.4 Billion Valuation
The deal marks a rare boost in value for an e-commerce company and gives employees and early investors a way to cash out.
Foxconn’s China IPhone Factory Could Be Back at Full Output by End December
The plant in Zhengzhou which had been hit by Covid and worker unrest could be back at full capacity soon, Reuters said citing a source.
DOJ Seeks Independent Examiner in FTX Case to Investigate Fraud Allegations
SEC, House Committee on Financial Services among other entities investigating FTX.
Amazon Entertainment Chief Jeff Blackburn to Exit Company
Blackburn led Amazon's media and entertainment ventures including Prime Video, Amazon Studios, Audible, Twitch and Amazon Music.
Galaxy Wins Bid to Buy Bankrupt Crypto Lender Celsius’ GK8 Unit
The acquisition will add 40 new employees to Galaxy, and GK8 co-founders will stay on to lead the custodial technologies business at Galaxy.
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