Affirm Cuts 19% of Staff, Pulls the Plug on Crypto Service
The installment lender said it would refocus on core projects as rising rates continue to squeeze its business.
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Robinhood Reports 5% Jump in Revenue, Plans Share Buyback From Bankman-Fried
Robinhood co-founders Vlad Tenev and Baiju Bhatt also announced that they have canceled nearly $500 million worth of stock awards they were due to receive as compensation.
Former Salesforce Co-CEO to Launch AI Startup With Google Veteran
Bret Taylor, the former Salesforce co-CEO who left last month, is preparing to get back in the game with a new AI startup.
Treasury Warns of Cloud Computing’s Risks to Financial Industry
The department is urging regulators to more closely examine cloud providers’ work with banks.
Amazon Adds Sports Gambling Channel to Free Streaming Service
With the rise of legalized sports betting, media companies including Disney’s ESPN have been making a push into gambling-related programming.
Uber’s Ride Hailing Business Shows Strong Recovery
Uber generated real cash for the full year 2022, a big landmark for the ride hailing and food delivery company.
NYT Co’s Digital Ad Revenues Weaken in Q4
The inclusion of The Athletic helped the Times' digital ad and subscription revenues in the quarter, while The Athletic's losses moderated.
UK Regulator Warns it May Block Microsoft-Activision Deal
The agency could force Microsoft to sell off Activision’s Call of Duty franchise or block the deal entirely.
Goldman Sachs Asset Management Closes $5.2 Billion Growth Fund
The fund is managed by Goldman's growth equity business
Twitter’s Head of Revenue Strategy & Operations Departs
Several senior employees have left since more pre-takeover stock vested last week.
Meta Beginning Effort to Trim Managerial Ranks
Some managers at Meta Platforms will soon receive an ultimatum: Accept a demotion or leave.
Zoom Lays Off 15% of Staff, CEO and Execs to Take Pay Cut
Zoom becomes the latest business software provider to cut staff in response to slowing demand for its products.
Microsoft Shows Off AI-Powered Bing Search Engine, Web Browser
Microsoft said the new version of Bing, which will use software from OpenAI, represented a major advancement in the experience of using search.
Ex-Coinbase Product Manager Pleads Guilty in Crypto Insider Trading Case
The defendants saw gains of about $1.5 million after they purchased tokens, which jumped in price once Coinbase announced it was listing them, according to filings.
DCG Selling Grayscale Fund Shares at Steep Discount Amid Genesis Bankruptcy
Genesis and parent company DCG struck a deal with creditors of Genesis’ lending unit yesterday.
SoftBank’s Vision Fund Posts Loss for Fourth Straight Qurter
SoftBank's losses, most of which are due to its large investment portfolio, underscore the global weakness in tech stocks.
Google Announces Plans to Use Chatbot in Search
The new AI feature will be able to provide more detailed answers to Google searches.
Pinterest’s Profit Plunges as Expenses Soar
The company also said its CFO was leaving and announced a $500 million stock buyback plan.
Vox Media Raises $100 Million from Penske
Penske becomes Vox Media's largest shareholder, owning a 20% stake, at an implied valuation of $500 million.
Binance to Suspend U.S. Dollar Bank Transfers
Binance previously said one of its banking partners, Signature Bank, would no longer support crypto exchange customers who buy or sell less than $100,000 worth of crypto.
Weekday mornings
The Information AM by The Information Staff
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