Shopify-Backed Klaviyo Cuts 10% of Headcount
The marketing platform had seen a boost in growth following restrictions on sharing customer data with advertisers.
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Robinhood Chief Operating Officer Stepping Down
Gretchen Howard will stay on as an advisor through the end of the year
Amazon Tests Rite Aid Deliveries in Instacart Challenge
The service, which is being piloted in Newark, NJ and Burbank, Calif., marks a push by Amazon onto Instacart's territory.
FTX Says SBF, Other Founders Received $3.2 Billion from Alameda and Other Entities
Nishad Singh, Gary Wang and Caroline Ellison have all pleaded guilty to federal fraud charges related to the FTX collapse, and Bankman-Fried is awaiting trial.
U.S. Officials Demand ByteDance Sell TikTok
More pressure from the White House puts ByteDance in a tough spot as China's government could oppose the idea of selling TikTok to a non-Chinese buyer.
First Republic Explores Strategic Options Including a Sale
The regional bank's stock has been volatile since the run on Silicon Valley Bank started.
Adobe Shares Jump 5%, CEO Says Figma Deal Still on Track
Adobe seems to be coping with the slowdown in software spending, as sales exceeded expectations in its recent quarter.
Stripe Makes $6.5 Billion Fundraising Official
The fundraising crystallized a drop of nearly half in Stripe's valuation from two years ago.
Crypto Bank Anchorage Digital Lays Off 20% of Staff
Crypto startups have been scrambling for new banking relationships after two crypto-focused banks have fallen into the past week.
Amazon Plans to Offer First Satellite Internet Service Next Year
Amazon has a long way to go to catch up with Elon Musk’s SpaceX, which says it has already launched about 4,000 satellites and has “well over” 1 million Starlink users.
AI Startup Adept Raises $350 Million at $1 Billion Valuation
Adept, founded last year by former OpenAI and Google employees, gets new funding that illustrates an investor feeding frenzy in AI startups.
Google Unveils New AI Tools for Cloud, Workspace
Developers will be able to access Google's PaLM model through Google Cloud, as the company introduces new features in Gmail and Google Docs.
OpenAI Sells GPT-4 Access to Developers
OpenAI is selling access to GPT-4 through an API that lets developers use it in their own software.
Meta Platforms to Cut 10,000 Jobs, Zuckerberg Says
The cuts are the second in five months, part of what Zuckerberg calls Meta's Year of Efficiency.
Qualtrics Accepts Silver Lake’s $12.5 Billion Buyout Bid
Shares of Qualtrics, which sells software for analyzing customer and employee sentiment, have been hit hard by concerns over profitability.
Most of BuzzFeed’s Cash Was at SVB
BuzzFeed's disclosure shows how vulnerable the digital media firm was to SVB's failure.
Amazon and Rivian Consider Ending Exclusivity Agreement
Rivian initiated the talks after Amazon said it plans to buy around 10,000 electric vans this year.
Tesla Relaunches Powerwall Sales
Tesla stopped selling the Powerwall outside of bundles in 2021
FDIC Taps Former Fannie Mae CEO as Chief of SVB ‘Bridge Bank’
FDIC will open the bank on Monday with normal operations while it continues to run a sale process.
HSBC to Buy Silicon Valley Bank’s U.K. Subsidiary
The bank is buying the unit for 1 pound, the Bank of England said in a statement, as it sought to assure continuity for local startups.
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