Rubrik Passes $400 Million in Subscription Sales, Launches Security Unit
After starting out as a startup focused on helping companies manage their data, Rubrik is now playing up its cybersecurity capabilities.
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The Wing, a Controversial Co-Working Startup, Shuts Down
The Wing had raised over $100 million in venture capital for its female-focused co-working spaces.
DC Attorney General Sues Michael Saylor, Microstrategy for Tax Evasion
The lawsuit alleges that Saylor avoided paying $25 million in taxes over more than 15 years
Cybersecurity Startup Lacework’s Sales Chief Steps Down
Lacework, which laid off 20% of its staff in May, is searching for a new sales chief while its co-CEO David Hatfield holds that role on an interim basis.
SeatGeek Raises $238 Million After Canceled SPAC Deal
The ticketing platform’s new funding gives it a lower valuation than what it sought in failed SPAC deal
Snap Lays Off 20% of Staff, Cuts Projects
Snap announced a restructuring that includes cutting a fifth of its workforce and discontinuing several projects, including Snap Originals shows, games and its new flying camera drone.
U.S. Regulators to Inspect Alibaba’s Audits After Washington’s Deal With Beijing
The move comes after Washington and Beijing last week reached an agreement to allow U.S. accounting regulators to inspect China-based audits.
Apple’s Chief Privacy Officer to Leave For Law Firm
The departure comes amid Apple’s efforts to promote privacy as a defining feature of its products.
Baidu’s Revenue Drops as China’s Economic Slowdown Hurts Tech Giants
Baidu's revenue decline, which comes after similar results from Alibaba and Tencent, reflects the tough business climate for China's tech sector.
Snap Planning 20% Layoff
The social media firm plans to begin laying off around 20% of its employees on Wednesday as its shares have plummeted more than 75% this year.
CrowdStrike Revenue Rises 58% as Security Giants Largely Escape Broader Slowdown
CrowdStrike and its rival Palo Alto Networks continue to be big cash machines.
DataRobot Shakeup Continues as Four Board Members Depart
The board members are departing a month after CEO Dan Wright stepped down amid controversy over stock sales last year.
Shopping App Nate Making Fresh Round of Job Cuts
The startup is also slashing its marketing spend and reducing contracts with outside engineering talent.
Amazon Backer Madrona Adds Managing Director, Plans Palo Alto Office
Madrona Venture Group has hired Karan Mehandru from New York-based hedge fund Steadfast Capital Management.
Gopuff Seeks $300 Million Credit Line
Delivery startup is seeking fresh cash as initial public offering plans remain on ice.
Elon Musk Cites Fraud in Second Termination Notice to Twitter
Twitter whistleblower allegations are a breach of contract according to Musk’s lawyers.
China Losing its Appeal to Western Companies Despite Profits
More than half of the U.S. firms responding to a survey cited China’s strict Covid policy as a reason to halt or delay investments.
Rubio Criticizes U.S. Approval of Chip Deal by Firm With Ties to China
The U.S. government recently approved the acquisition of a U.S.-based chip intellectual property developer by a firm that has ties to China.
YouTube’s Chief Business Officer Kyncl Steps Down
Mary Ellen Coe, a longtime Google ads executive, will take his place.
Microsoft Eases Licensing Rules in Europe, Keeps Other Restrictions
Microsoft, in an apparent bid to avoid legal challenges in Europe, is loosening its software licensing rules for some partners and customers but not for others.
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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