Peloton May Sell its Bikes Through Other Retailers as Sales Plunge
Peloton follows sneaker seller Allbirds in a move that counters the original direct-to-consumer brand strategy.
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Peloton Revenue Drops 24% in March Quarter
Peloton CEO Barry McCarthy said the company was "thinly capitalized."
Tencent’s Riot Games Sues Gaming Studio Owned by ByteDance
Riot Games alleged that Shanghai Moonton Technology copied its "League of Legends: Wild Rift.”
Tesla Shanghai Plant Slows Production on Covid Curbs
Tesla was only making 200 vehicles a day due to issues securing components as China’s draconian Covid lockdown wreaks havoc on supply chains.
Uber to Cut Marketing and Hiring Costs, Focus on Cash Flow
“Market size is irrelevant if it doesn’t translate into profit,” Uber CEO Dara Khosrowshahi reportedly said in an email to employees.
Match Sues Google Over App Store Practices
Match said Google's app marketplace dominance harms developers and keeps them from reaching more consumers
Galaxy Digital’s Novogratz Says More ‘Difficult’ Quarters to Come for Crypto
Robinhood and Block have also been hit by the downturn in digital assets, setting bleak expectations for Coinbase earnings Tuesday.
ThredUp Slashes Revenue Guidance on Recession Fears
Consumers normally buy more used goods during economic downturns, but ThredUp's CEO says shoppers are spending more on travel than on clothing as inflation pressure rises.
AI Startup Hugging Face Valued at $2 Billion After New Funding
Founded in 2016, Hugging Face has emerged as a company that could become a kind of GitHib for machine learning engineers and data scientists.
Instagram Will Start Testing NFTs for Select Creators
A small group of U.S. Instagram users will be able to share their NFTs on the app starting this week.
Stripe CEO Defends Launch of Product That Rivals Plaid
Patrick Collison warns staff to “expect controversies” as the company’s profile grows.
Google Cloud Starts Web3 Team
The new team will help developers focused on Web3 applications
SEC Settles with Nvidia Over Crypto Mining Revenue Disclosures
The graphics card maker did not disclose that much of its gaming revenue growth for parts of 2018 was due to crypto mining.
Peloton Seeks Minority Investment
The online fitness equipment seller is peddling a series of turnaround efforts as its sales growth slips and its valuation continues to drop.
Whistleblowers Accuse Meta of Using Hardball Tactics To Influence Law
The whistleblowers say Meta used an algorithm to take down news pages that it knew would have a broader impact.
Epic and Microsoft Team Up on Fortnite Web Streaming for iOS and Android
By making Fortnite playable on Xbox streaming, Epic and Microsoft are circumventing both Apple and Google’s storefront fees.
Meta Appoints New COO to AR/VR Division
Reality Labs’ outgoing COO, Rebecca Van Dyck, is leaving the company after a decade.
Shopify Shares Plunge On Slower Revenue Growth, Acquisition News
The Canadian e-commerce giant also racked up a $1.4 billion net loss in the first quarter of the year, wiping out a $1.3 billion profit it earned during the same period last year.
Musk Raises More than $7 Billion in Investments for Twitter Deal
The outside commitments allowed Musk to halve the loans he is taking out secured against his Tesla stake.
JD.com, Pinduoduo Added to List of U.S.-Listed Chinese Firms Facing Delisting Risks
U.S.-listed Chinese companies are grappling with pressure from both Washington and Beijing.
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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