ValueAct Reveals Stake in Spotify
The firm disclosed its investment weeks after Spotify announced layoffs and an organizational restructuring.
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Bakkt to Shutter Consumer-Facing App, Focus on B2B Crypto Services
The app will officially shut down on March 16 and existing users will be able to access crypto and cash holdings on a new website.
Meta Chief Business Officer Marne Levine To Leave Company
Meta's Chief Business Officer Marne Levine will leave the company after 13 years.
Twilio to Lay Off 17% of Staff
CEO Jeff Lawson said the company has “gotten too big” and needs to be streamlined.
Regulators Tell Paxos to Stop Issuing Binance Stablecoin
Paxos announced Monday that it would end its relationship with Binance for BUSD after the New York State Department of Financial Services ordered Paxos to stop issuing the stablecoin.
Uber Shifts Computing Work to Oracle and Google Cloud
The shift to the public cloud is a strategic about face for Uber, which since its earliest days has avoided public cloud providers.
Chinese-Owned U.S. Shopping App Airs Super Bowl Ad
Temu, owned by Nasdaq-listed Chinese e-commerce giant PDD, is trying to replicate the global success of other Chinese-owned apps like TikTok and Shein.
PayPal Tables Stablecoin Project Amid Regulatory Crackdown
The pause comes a day after a report that crypto payments firm Paxos is under investigation by the New York State Department of Financial Services.
Remaining Top Exec Departs Goldman’s Consumer Unit
Former Uber VP Peeyush Nahar was tasked with turning around the firm’s struggling consumer business.
Amazon in Talks to Buy Indian Streaming Service MX Player
MX Player is majority owned by Indian media conglomerate The Times Group and is one of the country’s largest internet video sites.
PayPal CEO To Retire
The company didn’t immediately name a successor for Schulman, who has led the payments giant since 2015.
Apple Hiring First Chief People Officer
Carol Surface will join the iPhone maker from Medtronic.
Lyft Posts 21% Growth Driven by Higher Prices
Lyft's results, including a higher cash burn, comes amid rising questions about Lyft's ability to survive as a standalone company.
SpaceX Conducts Key Engine Test Ahead of March Launch Attempt
SpaceX fired off 31 of the 33 rocket engines during the Starship booster test
Kraken to Shut Down Staking as Part of SEC Settlement
Staking, a process that pays rewards for locking up tokens on certain blockchains, is a source of revenue for many crypto exchanges.
Yahoo to Cut Workforce by 20%
Yahoo, which was bought by Apollo for $5 billion in 2021, is shutting down a big part of its ad tech business that helps publishers sell automated ads.
GitHub to Lay Off 300 Employees, Go Fully Remote
The layoffs come as Microsoft cuts jobs across the company in an effort to reign in spending amid slowing sales.
DCG Posted Around $800 Million in Revenue in 2022
Barry Silbert’s crypto company generated more than $1 billion in revenue in 2021.
Activist Peltz Calls Off Disney Proxy Fight
Peltz's move followed a big jump in Disney's stock price since he launched the contest.
Shopify Revamps Shopping App, Heightens Competition With Amazon
The changes come as Shopify aims to expand its offerings as fewer new merchants sign up for its services.
Weekday mornings
The Information AM by The Information Staff
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