Shopify Cuts 10% of Staff, CEO Says Bet on E-Commerce Boom Was ‘Wrong’
The e-commerce software provider is one of many firms that overestimated the staying power of the pandemic-led shift to online shopping.
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Shein’s $100 Billion Valuation Comes Under Pressure in Secondary Market
The Chinese fast fashion app has been grappling with the impact from the global economic slowdown, China's Covid lockdowns and the stock market rout.
Alibaba to Apply for Primary Listing in Hong Kong
The move would make it easier for investors in mainland China to buy the Chinese e-commerce giant's shares for the first time.
Facebook Will Share Music Revenue With Creators
Facebook parent company Meta Platforms is giving 20% of revenue to creators who use certain licensed music in their videos.
Google Fires Engineer Who Believed Its AI Was Sentient
The engineer said he made the determination based on his Christian beliefs.
Elon Musk’s Alleged Affair With Sergey Brin’s Wife Reportedly Damaged the Men’s Friendship
The report comes at a time when the Tesla CEO is dealing with other challenges such as his court battle with Twitter.
Twitter Revenue Falls But Stock Stays Flat Thanks to Musk Deal
As advertising demand slows, the social media company’s revenue dropped for the first quarter since the beginning of the pandemic.
Instacart Founder to Step Down After Company Goes Public
Apoorva Mehta, a co-founder of Instacart, currently serves as executive chairman and member of the board after stepping down as CEO last summer.
Shakeup at Amazon as Policy Chief Jay Carney Departs for Airbnb
Though Carney does not officially depart till August, the news of his resignation has already led to changes within the company’s corporate structure.
Samsung Mulls $200 Billion Spending on Texas Chip Plants
Samsung's potential plans come as the U.S. Senate is discussing a bipartisan bill to provide funding to beef up domestic semiconductor production.
Blockchain.com Lays Off 25% of Staff
The layoffs follow cuts at exchanges including Coinbase, Gemini and NFT Marketplace OpenSea
Ex-Coinbase Exec Charged with Insider Trading
The defendants earned roughly $1.5 million after purchasing at least 25 crypto assets before they were listed on the exchange.
Snap Reports Sharp Revenue Slowdown, Shares Plunge
The social platform and augmented reality company grew revenue by just 13% year over year, its slowest quarterly rate since going public.
Musk’s Right Hand Man at Tesla is Under Investigation
Omead Afshar, a senior director in the office of the CEO, is expected to leave the company
Andreessen Horowitz Announces Miami, New York, LA Offices
The venture capital firm says it's "moving into the cloud" and will no longer require dealmakers to come into the office under new operating model.
Amazon Doubles Down on Health Care With $3.9B One Medical Deal
Amazon will acquire the concierge medicine practice One Medical in an all-cash deal valued at $3.9 billion.
China Slaps Didi With Nearly $1.2 Billion Fine as Yearlong Probe Ends
The end of the Didi probe could spur hopes among Chinese tech executives and investors that the worst may be over in Beijing's crackdown on the sector.
Tesla’s Musk Keeps Car-Growth Goal of 50% Despite Revenue Deceleration
“We have potential for a record-breaking second half of the year,” Musk said.
ByteDance Secondary Shares Trade Below $300 Billion in Private Deals
Shares in the privately held owner of TikTok traded at $275 billion even as some investors are optimistic about the prospects of an IPO.
Microsoft, Oracle Build Data Path Between Their Clouds
After announcing a cloud partnership three years ago, longtime rivals Microsoft and Oracle are now getting even closer.
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.
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