PayPal Becomes First Foreign Company to Wholly Own Payments Platform in China
Beijing's loosening restrictions on foreign ownership comes too late given the dominance of China’s two largest payment platforms, Alipay and WeChat Pay.
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U.S. Regulators Ask Tesla to Recall 10% of Its Cars Over Safety Concerns
The National Highway Traffic Safety Administration asked for the voluntary recall of 158,000 vehicles—around 10% of the total number of vehicles Tesla has ever produced.
Connecticut Investigating Amazon’s Ebooks Business
Connecticut has launched a probe into whether Amazon violated competition laws through its relationships with publishers in the ebooks business.
Snapchat Joins Twitter in Permanently Banning Trump
The move follows Twitter’s decision to also permanently ban Trump last week, and Facebook’s decision to ban his ability to post indefinitely.
Poshmark Is Said to Price IPO at $42
The secondhand clothing marketplace will raise about $277 million in its offering.
At CES, Microsoft’s Brad Smith Urges Tech Firms to Collaborate on Cybersecurity
To prevent future threats, companies need to proactively share data, the tech executive said.
U.S. Won’t Impose Investment Ban on Alibaba, Tencent and Baidu
In the final week of his presidential term, President Trump backs off a proposal to ban U.S. investment in some of China's most highly valued companies.
Sequoia’s Doug Leone Says He No Longer Supports Trump
The longtime managing partner at Sequoia Capital has publicly condemned the attack on the U.S. Capitol.
Alphabet Backs Webflow at $2.1 Billion Valuation
Website-design software maker Webflow has raised a $140 million Series B.
Affirm Stock Opens 86% Above IPO Price
Affirm opened at $90.90, adding fuel to the debate over IPO underpricing.
Icon Health and Fitness Hires CFO
The company’s appointment of Steven Barr is a sign the company is looking to go public this year.
Dropbox Lays Off 11% of Global Staff, COO Departs
Despite upgrading its core file-sharing service and branching out into new areas of remote work such as digital signatures, Dropbox is still struggling.
Airbnb Pulls D.C. Reservations for Inauguration Week
The move goes farther than Airbnb's previous efforts to assure lawmakers and the media that the homes on its site wouldn't harbor right-wing extremists.
Qualcomm to Acquire Chipmaker Startup for $1.4 Billion
The acquisition of Nuvia is aimed at giving Qualcomm an edge in 5G networking technology.
Intel Ousts CEO Bob Swan
The chief executive, in the top job for only two years, will be replaced by current VMWare CEO Pat Gelsinger.
Chinese Facial Recognition Software Company Seeks Domestic IPO After U.S. Sanctions
Megvii, owner of Face++ had initially sought a listing in Hong Kong before it was put on a U.S. blacklist.
AWS Said It Repeatedly Warned Parler About Posts Urging Murder
No matter what happens with Parler, sooner or later the U.S. Supreme Court will be asked to consider a lawsuit filed by a "de-platformed" conservative-leaning figure or app as a test case of Big Tech’s influence over content.
YouTube Blocks New Trump Videos for at Least a Week
It's the latest effort by an online content platform to limit the president's reach as he continues to lie about the election results following last week's deadly attack on the U.S. Capitol.
Affirm Is Said to Price IPO at $49
That’s above Affirm’s initial pricing range of $41 to $44, which had already been raised once.
Several Hot Tech Stocks Reach All-Time Highs
DoorDash, Asana, Uber, Pinterest and Snap all closed at their highest prices ever.
Weekday mornings
The Information AM by The Information Staff
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