Facebook to Buy Giphy
The deal was valued near $300 million, a roughly 50% drop from Giphy’s last known valuation of $600 million in 2016.
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Vice to Lay Off 100 Employees
The move comes as the media company seeks to cut costs in its digital business amid declines in advertising.
TSMC to Build Chip Plant in Arizona
The plant would assuage concerns that the U.S. is too dependent on chips made in Asia and also is a political win for the Trump administration.
Libra Association Adds Temasek, Paradigm, Slow Ventures
The embattled Libra project has gained momentum in recent weeks after pivoting its strategy to appease financial regulators.
Microsoft Adds to 5G Portfolio With Metaswitch Deal
This is Microsoft's second acquisition in the past two months of tech that enables functions of large-scale networks to be managed via software.
Pop Duo The Chainsmokers Are Raising a $50 Million VC Fund
They join Ashton Kutcher, Serena Williams and Carmelo Anthony, who also have their own venture funds.
Apple Buys VR Streaming Startup NextVR
NextVR hints towards Apple’s content ambitions for its future AR eyewear.
Amazon Calls on Congress to Enact Price Gouging Law
Amazon, frustrated with Covid-19 related price gouging, calls on Congress to step in.
General Motors’ Cruise Lays Off Nearly 8% of Staff
The latest layoffs in self-driving cars are happening at a place with billions of dollars in the bank.
Quartz to Cut Headcount by Almost Half
The cuts come as the company has seen revenue in the first quarter drop by more than 50%.
Kids Advocates Say TikTok Broke Privacy Promises
TikTok has attracted the ire of more than a dozen kids and consumers advocates over alleged lapses in its privacy policies.
U.S. Government Says Hackers Trying to Steal Covid-19 Researcher Are Linked to China
U.S.-China relations continue to deteriorate as both sides trade accusations of a Covid-19 coverup and compete to find a cure for the disease.
Cisco Sales Dip 8% as Customers Delay Networking Purchases
Despite customers in hard-hit industries rethinking large-scale networking upgrades, Cisco CEO says the company is well-position for a downturn.
Netflix Buys MGM Film That Had Been Theater-Bound
Another case of a studio offloading its once-planned theatrical release to a streaming service.
Health Officials Capitulate to Tesla CEO Musk Over Manufacturing Reopening
Elon Musk showed he has considerable sway over local authorities.
Uber Requires Drivers and Riders to Wear a Mask
Ride hailing's recovery will partly be tied to whether passengers and drivers feel safe enough to avoid contracting Covid-19.
Democratic Senators Call for Civil Rights Expertise on Facebook’s Board
Democrat demand for civil and human rights expertise on Facebook's board stems from frustration over flood of misinformation during the pandemic.
Tencent’s Quarterly Earnings Powered by Users at Home in China
The impact of the coronavirus on Tencent’s businesses is a good barometer of how other internet companies are faring in China and globally.
Luckin Coffee Terminates CEO and COO in Wake of Fraud Investigation
The company sacked the founder and COO, who had been implicated in faking sales figures, and also removed the company's chairman from some key corporate boards.
Apple Employees to Return to Offices Sooner Than Tech Rivals
The company plans to return in phases—the first of which has already begun for employee whose jobs require them to be in the office.
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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