Zendesk Agrees to $9.2 Billion Buyout
The price offered by the buyout firms is below where Zendesk stock was trading just a few weeks ago, raising questions about shareholder reaction to the deal.
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MasterClass Lays Off 20% of its Employees
It joins other creator economy startups including Cameon, Picsart and Community in cutting jobs.
Yelp CEO, Announcing Plans to Shut Offices, Says Hybrid Work Is ‘Hell’
The company will close offices in New York, Chicago and Washington D.C.
Netflix Lays Off 300 People
The layoffs reflect Netflix's effort to curb its costs as it deals with slowing revenue growth.
Venture Firm Accel Closes $4 Billion Late-stage Fund
The fund will give capital to existing portfolio companies and newcomers
Shopify’s Spokesperson Quits
Shopify lost its top spokesperson as it grapples with a stock price that has fallen 75% so far this year.
Meta’s Oversight Board Calls For More Transparency From Company
In its first year, the Oversight Board overturned Meta in 70% of the cases it considered.
FalconX Valued at $8 Billion After Raising Series D Round
FalconX is one of a handful of crypto companies that have been able to raise money amid a crypto market downturn.
SoftBank Head of International Leaves Post After Five Months
SoftBank Group International CEO Michel Combes is stepping down and will be replaced by SBGI Managing Partner Alex Clavel.
BlockFi Receives $250 Million Bailout From FTX
BlockFi has been under financial pressures in recent weeks, laying off 20% of its employees earlier this month.
Amazon Names New Worldwide Retail Chief
Doug Herrington will replace Amazon’s outgoing logistics czar Dave Clark as head of the e-commerce giant’s sprawling retail business.
DocuSign CEO Steps Down as Company’s Covid Bump Wears Off
The company has slowed hiring and its share price has fallen 75% over the past year.
Big China Sales Day Has Low Growth on Covid Lockdowns
E-commerce giant JD.com’s mid-year e-commerce sales event had the lowest growth in at least five years.
TikTok Moves All U.S. User Data to Oracle Servers
The move comes as questions linger over data security for the Chinese-owned app.
Crypto Asset Manager Babel Finance Pauses Withdrawals
Babel’s announcement comes amid falling crypto prices and financial pressures on several crypto companies.
SoftBank-Backed Fintech Startup Klarna Discusses Much Lower Valuation
A down round for Klarna would be the latest example of how the global stock market rout and economic headwinds are dealing a blow to highly valued startups.
DataRobot CEO Apologizes for Optics of Executives’ Stock Sales
Dan Wright, CEO of AI startup DataRobot, told employees in an all-hands meeting that he didn't realize how executives' share sales last fall would be perceived.
Elon Musk Softens Anti-Remote Work Stance in Twitter All-Hands
Employees who make “exceptional” contributions would be allowed to work from home at a Musk-owned Twitter.
YouTube Shorts Amass 1.5 Billion Monthly Users in Challenge to TikTok
The growth of YouTube Shorts intensifies the short-video battle among tech giants and could pose a challenge to TikTok.
Meta Plans Changes to Feed in Push to Compete with TikTok
The company is also going to re-join the Facebook and Messenger 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.
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