Getir Buys Gorillas in $1.2 Billion Grocery App Deal
Investors have soured on rapid delivery, and the combined companies’ valuation is well below Getir’s $11.8 billion valuation in March.
Weekday mornings
The Information AM
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
Recent Editions
Letter From Foxconn Helped Spur China’s Reopening
The founder of Apple supplier Foxconn wrote to Chinese President Xi Jinping warning that Covid lockdowns threatened China’s place in the global supply chain.
Instant Delivery Startup Gorillas in Talks to be Acquired by Rival Getir at $1.7 Billion Valuation
The nearly 50% valuation cut is a sign of the pressure instant delivery companies have been under as venture funding for money-losing startups has dried up.
Airtable Lays Off 20%, Replaces Product and Sales Chiefs
Airtable, which benefited from investors' interest in remote work companies during the pandemic, is cutting staff and refocusing on large customers.
Ex-Twitter Employees File Class Action Lawsuit Alleging Sex Discrimination
A San Francisco judge will hear arguments Thursday over Twitter’s forced arbitration agreements
Meta Faces FTC In Court Over VR Acquisition
Meta CEO Mark Zuckerberg and CTO Andrew Bosworth are both listed as potential witnesses in the case.
FTC Sues to Block Microsoft’s $69 Billion Activision Acquisition
The FTC is taking aggressive steps to stop the biggest companies from buying rivals, despite the risk of losing those battles in court.
Amazon Launches TikTok-style Shopping Feed
The feature will serve customers a continuous feed of photos and videos of products.
TikTok Is Sued by Indiana
The state filed two lawsuits against the popular short video app accusing it of targeting young teens and misleading users.
Musk’s Bankers Consider Replacing Twitter Debt With Tesla Margin Loans
A swap would lower the costs for Twitter as it encounters advertising headwinds.
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.
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.
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