Silicon Valley Bank Stock Plunges 60% Amid Panic
SVB's stock drop reflects anxieties about its heavy exposure to tech startups.
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Recent Editions
FTX to Sell Sequoia Stake to Al Nawwar Investments for $45 Million
Alameda Ventures originally committed $100 million for the stake in March 2022, of which Sequoia has called roughly $50 million.
Dutch Government Plans New Restrictions on Chip Technology Exports
The Netherlands' move comes after the U.S. government last year announced sweeping new restrictions on chip technology exports to China.
Silicon Valley Bank Stock Plunges
Shares slide more than 30% after hours as SVB tries to shore up its financial position
Cloud Cost Control Startup Vantage Raises $21 Million
Vantage, co-founded by veteran cloud industry product managers, is getting more attention from investors for handling
Stripe’s Fundraise to Reach $6 Billion
Stripe is wrapping up its funding round with an eye-popping total: $6 billion.
Uber Considers Spinning Off Freight Business
A spin-off would concentrate Uber on its better known ride-hailing and food delivery operations.
Silvergate Bank to Wind Down Operations and Liquidate
Silvergate had been a top bank for crypto companies, and its struggles have sent crypto startups scrambling to find a new bank.
Sea Ltd. Shares Jump 22% After First-Ever Profit
The Singapore-based company, whose main businesses are e-commerce and online games, swung to a profit after drastic cost cuts that included massive layoffs.
China’s New Government Bureau to Oversee Data-Related Issues
The plan to create the new regulatory body is part of Beijing's effort to tighten its control over how businesses handle potentially sensitive data.
FTC Has Sent Musk’s Twitter More Than a Dozen Letters Since Takeover
The House Judiciary Committee said there was "no logical reason" for some of the FTC's requests.
Salesforce Adding OpenAI’s ChatGPT to Business Apps, Slack Chat
Hoping for a competitive advantage, Salesforce becomes the latest enterprise software company to tap into OpenAI's ChatGPT technology.
Musk: Twitter Has a ‘Shot’ at Becoming Cash Flow Positive in Second Quarter
Twitter expects to make less than $3 billion in revenue this year, and has cut cash burn outside of interest payments to $1.5 billion.
Meta Platforms Plans Fresh Round of Layoffs
The cuts could be finalized as soon as this week.
WeWork In Talks for New Investment, Debt Relief
The office co-working company is talking to real estate software firm Yardi for more cash.
White House Likely to Support Bill That Could Grant Power to Ban TikTok
Senator Mark Warner is set to unveil a bill that would grant the U.S. government the power to ban foreign companies or tech deemed a threat to national security.
Self-Driving Truck Developer Embark Nears Liquidation
Embark, once valued at more than $5 billion, struggled to develop and commercialize its technology while burning through cash.
Tesla Drops Prices, Marking Second Round of Cuts In Three Months
The company previously cut prices on four of its models in January.
SAP and Silver Lake Go Exclusive on Qualtrics Sale
SAP bought Qualtrics for $8 billion in 2018 and took the company public two years ago.
ThredUp Shares Jump As More Budget Shoppers Move to Secondhand Shopping
The apparel reseller sees opportunity with price-conscious shoppers as other retailers pull back on discounts.
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.
By providing your email, you agree to The Information’s Privacy Policy
