SoftBank Slashes its Valuation for Indian Hotel Startup Oyo
The move by the Japanese investment giant, Oyo's largest shareholder, comes as the Indian startup is expected to go public early next year.
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Recent Editions
Coinbase Tested Controversial $100 Million Trade With Own Money
The crypto exchange testified to Congress in 2021 that it did not trade cryptocurrencies on behalf of itself.
Trump Could Return to Facebook: Meta’s Nick Clegg
A decision to reinstate Trump on Facebook, where he had 35 million followers before his suspension, could play into Trump's possible 2024 reelection campaign.
ByteDance’s Pico Unveils New Virtual Reality Headset
The Pico 4 will be available in Europe and Asia.
Microsoft Plans to Expand China Headcount to 10,000
Separately, CEO Satya Nadella said he’s confident its planned $69 billion Activision Blizzard purchase will overcome an antitrust probe.
Keith Rabois-Led OpenStore Raises $32 Million
The financing increases OpenStore's valuation by 25%—a rare "up round" after a slow summer in the VC industry.
China Accuses U.S. of Hacking Telecom Network
China has been ramping up accusations that the U.S. is hacking its systems.
Meta Accused of Circumventing Apple’s Privacy Rules
The claims involve code Meta injects into websites rendered by its in-app browsers.
Jesse Powell Stepping Down as Kraken CEO
Dave Ripley, Kraken’s current chief operating officer, will replace Powell, who will become chairman of the exchange’s board.
Meta Reportedly Looking to Cut Costs By 10% in Coming Months
The social media company has been taking a tougher stance around employee performance.
TikTok Steps Up Political Policies Ahead of Midterm Elections
TikTok is cutting off advertising and money-making features for accounts belonging to politicians and political parties ahead of the U.S. midterm elections.
Warner Music Plans to Name YouTube’s Robert Kyncl as New CEO
YouTube executive Robert Kyncl is set to be announced as Warner Music's next CEO.
Stitch Fix’s Revenue Drops 16%
The company also projected a 20%-22% drop in revenue for the current quarter, a sign that efforts to change the business model are facing deep challenges.
Tencent Could Offload Some of its Massive Investment Portfolio
The sales would be a shift for Tencent, which takes stakes in startups that complement its existing businesses or deepen its insights into new technologies.
Nasdaq Moves into Crypto with Custodying Services
The new service, which is part of a new digital assets group at the exchange, puts Nasdaq in competition with some of the fastest growing crypto startups.
Salesforce Overhauls Database Software for Real-Time Data Analysis
In its first major database upgrade in years, Salesforce aims to let marketers track customer interactions with websites and chatbots and get immediate insights.
Apple to Raise App Store Prices for Some Countries in Asia, Europe
The price hikes apply to both the price of apps and in-app purchases, of which Apple typically takes a 30% cut.
Musk’s Deposition in Twitter Case Set for Sept. 26
The trial of Twitter's lawsuit against Musk is due to start in mid-October.
Chamath Palihapitiya Shuts Down Two Tech SPACs
The two blank-check companies will return money to shareholders after failing to find deals
FTC Investigating Amazon Deal to Buy Roomba Maker iRobot
The FTC asked for additional information about Amazon’s $1.7 billion purchase of iRobot. The request is a sign that the FTC is investigating the deal in detail.
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