Instacart Investor Slashes Valuation to $14.7 Billion
The new valuation by Capital Group, a financial services company, is well below Instacart’s own internal calculation of $24 billion.
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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
Twitter-Musk Trial Set for October as Judge Boosts Twitter Legal Case
The judge said the percentage of Twitter spam accounts is not relevant because “nothing in the merger agreement turns on that question.”
Facebook’s ‘Cunningham Memo’ Released by House Antitrust Committee
The memo first appeared in The Information, and Facebook subsequently turned it over to House investigators.
Microsoft Launches Social App for Corporate Settings
Microsoft's latest effort to foster social networking-type interactions uses software from its Yammer acquisition a decade ago.
Facebook Moves Resources Away from News, Substack Competitor Bulletin
Meta Platforms is scaling back some resources from Facebook News and newsletter publisher Bulletin, although those products will continue to exist.
China’s Regulator to Fine Didi More Than $1 Billion to End Yearlong Probe
The end of Beijing's investigation into Didi will be a turning point in China's sweeping regulatory crackdown on the internet sector.
U.S. Tech Funding Bill May Exclude Firms Making Advanced Chips in China
The proposed draft bill prevents companies that are building or expanding advanced chip manufacturing plants in China from taking advantage of the funding.
SoftBank Suspends Work on London IPO for Chip Design Firm Arm
U.K. Prime Minister Boris Johnson had lobbied for a dual New York and London listing of the Cambridge-based tech firm.
DataRobot’s Chief AI Strategist Resigns Over Exec Stock Sales
The move is evidence of internal fallout The Information's report in June
Meta’s Forced Sale of Giphy Stalls After Regulatory Fumble
The U.K. Competition & Markets Authority unlawfully redacted material in its merger inquiry, an appeals tribunal ruled.
Gemini Makes Another Round of Job Cuts
Gemini had previously laid off 10% of staff at the beginning of June, citing the start of a crypto winter.
ByteDance’s Chinese Video App Tests Food Delivery Feature
It is still unclear whether ByteDance will make a major foray into China's food delivery market dominated by Meituan and Alibaba unit Ele.me.
Food Delivery App Deliveroo Cuts 2022 Sales Forecast
The London-based company's weaker forecast comes as the food delivery sector as a whole grapples with slower growth.
Amazon Pulls Back on Private-Label Products
Following weak sales and increased regulatory scrutiny, Amazon is slashing the number of private-label products it sells under its house brands
China’s Second-Quarter GDP Slows Sharply on Covid Restrictions
It is unclear how quickly China's economy can recover as the country sticks to its draconian zero-Covid policy.
Alibaba Faces Questions From Chinese Authorities About Data Breach
After the theft of police data on 1 billion Chinese citizens, authorities are talking to executives of Alibaba's cloud division, which hosted the database.
Intel Warns Customers of Looming Chip Price Hikes
Intel, which is investing more than $40 billion in a series of new chip manufacturing factories in the U.S., is hiking prices for products like PC and server chips.
Activist Investor Elliott Management Takes Stake in Pinterest
Elliott holds a 9% stake in the social media company, according to a report
Stripe Cuts Internal Valuation by Nearly 30%
Stripe told employees last week that the value of their shares had declined from $40 to $29.
OpenSea Lays Off Roughly 20% of Staff
OpenSea joins Coinbase, Gemini and Crypto.com in announcing layoffs in recent weeks as crypto and NFT trading volume has fallen.
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
