Stitch Fix’s Revenue Drops 16%
The company also projected a 20%-22% drop in revenue for the current quarter, a sign that efforts to change the business model are facing deep challenges.
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Tencent Could Offload Some of its Massive Investment Portfolio
The sales would be a shift for Tencent, which takes stakes in startups that complement its existing businesses or deepen its insights into new technologies.
Nasdaq Moves into Crypto with Custodying Services
The new service, which is part of a new digital assets group at the exchange, puts Nasdaq in competition with some of the fastest growing crypto startups.
Salesforce Overhauls Database Software for Real-Time Data Analysis
In its first major database upgrade in years, Salesforce aims to let marketers track customer interactions with websites and chatbots and get immediate insights.
Apple to Raise App Store Prices for Some Countries in Asia, Europe
The price hikes apply to both the price of apps and in-app purchases, of which Apple typically takes a 30% cut.
Musk’s Deposition in Twitter Case Set for Sept. 26
The trial of Twitter's lawsuit against Musk is due to start in mid-October.
Chamath Palihapitiya Shuts Down Two Tech SPACs
The two blank-check companies will return money to shareholders after failing to find deals
FTC Investigating Amazon Deal to Buy Roomba Maker iRobot
The FTC asked for additional information about Amazon’s $1.7 billion purchase of iRobot. The request is a sign that the FTC is investigating the deal in detail.
Chinese EV Maker Leapmotor Aims to Raise $1 Billion in Hong Kong IPO
The listing will test investors' appetite at a time when the IPO market has cooled globally and some Chinese EV stocks have plunged.
Antitrust Regulators to Wade in on Epic Games v. Apple Lawsuit
The 10-minute speech will not side with either company, but will be an important signal given that the DOJ has been looking into Apple since 2019.
Opendoor Lost Money as Real Estate Market Turned, Report Says
As inflation and increased interest rates cooled home-buying activity, Opendoor was left on the hook.
Uber Suspects Well-Known Hacking Group Caused Recent Breach
The Lapsus$ hacking group has previously used social engineering techniques to carry out attacks on Microsoft and Okta, and Uber may be its latest victim.
PillPack Founders to Leave Amazon
Amazon purchased the Boston-based online pharmacy company in 2018 for around $750 million as one of its first major moves into the health care industry.
Instacart Plans to Use IPO to Sell Employee Equity
In a bid to attract and keep talent, Instacart will mostly list employee shares
Co-Founder of Terraform Labs Says He’s Not on the Run
South Korea prosecutors accuse Do Kwon of being on the run after they issued an arrest warrant for him.
Singapore’s Sea Plans Layoff in E-Commerce Unit
Sea, whose main businesses are videogames and e-commerce, has been grappling with slowing demand after an earlier pandemic-fuelled boost.
Shopify Overhauls Pay to Let Workers Pick Cash-Equity Split
Shopify has also removed the one-year waiting period before employees begin receiving their equity awards.
FTX Top Bidder for Assets of Bankrupt Crypto Lender Voyager
FTX and Sam Bankman-Fried have been bailing out struggling crypto companies, and are now trying to snap up assets in Voyager’s bankruptcy auction.
Online Fashion Giant Shein Plans to Beef Up U.S. Distribution Network
The move, which could reduce shipping times for American shoppers, is part of Shein's effort to boost its U.S. sales.
ByteDance to Spend $3 Billion to Buy Back Investors’ Shares
The plan would value the owner of TikTok at $300 billion amid stalled plans for an initial public offering.
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The Information AM by The Information Staff
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