BuzzFeed Revenue Falls 27%
BuzzFeed's revenues plummeted in the first quarter, driven by a 30% drop in ad sales. It forecasts a 29% decline in revenues next quarter.
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LinkedIn to Lay Off 716 Employees, Downsize China Business
As part of the reorganization, LinkedIn will shut down InCareer, its local jobs app in China.
Allbirds Forecasts More Revenue Decline, Co-CEO to Change Roles
The direct-to-consumer footwear brand is looking to turn around its business in what executives have called a “year of transition.”
Andreessen Horowitz Pledges $500 Million to Startups Supporting U.S. Interests
Andreessen Horowitz partners also urged fellow VC firms to support companies working in the U.S. aerospace, defenseand public safety industries.
Paramount Cuts 25% of Domestic Staff in TV Division
Paramount is laying off roughly 25% of employees within the unit that oversees its domestic cable networks a week after the company reported declining ad sales.
Ex-Coinbase Product Manager Sentenced for Insider Trading
Federal prosecutors have said the insider trading case was the first ever involving cryptocurrencies.
Warby Parker Sees Revenue Bump Despite Customer Growth Slowdown
The direct-to-consumer eyewear company has been trying to sell existing customers on more products and services.
Amazon Offers Customers $10 to Pick Up Orders at Stores
Some Prime members can get $10 to pick up orders at Whole Foods, Amazon Fresh and Kohl's stores.
PayPal Profit Rises 56% as Expenses Kept in Check
Lower expenses in areas such as sales and marketing and customer support helped boost PayPal's profit in the first quarter.
Tesla Breaks Ground on Lithium Refinery
Tesla aims to start production at the Corpus Christi refinery in 2015
Apollo Part of Bid to Acquire Bankrupt Crypto Lending Firm Celsius
The private equity giant has joined a bid that was placed by crypto investment firm NovaWulf, according to a report from CoinDesk.
Amazon Studios Forms New Film and TV Distribution Unit
Amazon plans to make its movies and TV shows available to rent or buy on other platforms. It's also open to licensing its programming to cable TV networks.
TikTok Tracked Users Who Watched LGBTQ Videos
TikTok reportedly tracked users who watched gay content.
Vista Buys Stake in Supply Chain Monitoring Firm Resilinc
Resilinc will use the investment to adopt AI technology and to expand outside of the U.S.
DOJ Probing Binance Over Possible Russian Sanctions Violations
The probe, which is being handled by the department’s national security division, is looking at whether Binance or company officials allowed users to bypass the sanctions.
Sequoia Let LPs Withdraw Capital Early From Evergreen Fund
Facing liquidity crunch, some Sequoia backers chose to withdraw money earlier than planned.
Instacart’s Order Volume Growth Slows in First Quarter
The slowdown could affect the timing of Instacart's IPO.
Vice Media Nears Bankruptcy Deal For Sale
Vice Media is in talks to sell itself to lenders including Fortress Investment Group and Soros Found Management in a deal valued around $400 million.
Warner Bros. Discovery Reports Small Streaming Profit in Q1
WBD chief David Zaslav said the company's streaming division will turn a profit "a year ahead of schedule." Meanwhile, WBD's TV ad revenue dropped 15% as the TV ad market slumped.
Google Researcher: Company Has ‘No Moat’ in AI
A Google researcher argued in a recent internal memo that their company, as well as OpenAI, won’t be able to defend their respective advantages in AI.
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The Information AM by The Information Staff
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