Sequoia China’s Neil Shen Sells Shares in Meituan and Pinduoduo
The Financial Times said the billionaire venture capitalist sold as much as $215 million worth of shares in Pinduoduo, Meituan and Dada Nexus.
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SoftBank Announces $8.8 Billion Share Buyback After Losses on Didi and Coupang
SoftBank's buyback announcement came after its Vision Fund suffered a quarterly loss on the decline of China's Didi Global and other stocks.
Chinese State Firm Mulls Bid to Buy Alibaba-Owned Hong Kong Newspaper
The possible move comes as Beijing has been stepping up its effort to tighten its control over all kinds of domestic media platforms.
Peloton Stock Falls After Weak Earnings Report
Friday’s closing price is 67% down from the stock’s all-time high of $171 in January.
Kroger Targeted by Fake Crypto Press Release
Kroger became the latest retailer to fall victim to fake crypto news.
Stripe Adds Crypto Investor Matt Huang to Board
Stripe is widely expected to complete an IPO next year.
Meta Planning Physical Stores for AR/VR Products: Report
The plans, which may not move forward, have been in the works for months.
Lions Gate Explores Spin-Off or Sale of Starz
The company is looking to sell the premium cable channel as content studios are trading at huge multiples.
Reuters: Jack Ma Wrote Letter To China’s President Offering to Devote His Life to Rural Education
It's unclear when the billionaire Alibaba founder wrote the letter or what President Xi Jinping’s reaction to it was, according to Reuters.
Uber Revenue Rose 70% But its Cash Burn Continued as Pandemic Recovery Lagged
Uber investors must wait a while longer for a full recovery from the pandemic—and any semblance of free cash flow.
Alphabet Starts Drug Discovery Company
The new company aims to commercialize some of Google’s artificial intelligence
Cloud Software Firm HashiCorp Files to Go Public
The company did $212 million in revenue in the fiscal year ended January, up 75% from twelve months prior.
NerdWallet Shares Jump Over 70% in IPO
Shares of personal finance company NerdWallet soared to above $30 as it began trading on Thursday, a nearly 70% increase from its initial public offering price of $18.
Google Invests in CME and Wins Cloud Deal
The deal is the second this week in which Google invested in a company and walked away with a lucrative cloud contract - a move often done by rival Microsoft
ViacomCBS To Spend $2 Billion on Content to Grow Streaming Services
The company hit 47 million subscribers to its streaming services globally in the third quarter.
Google Opens up to Third-Party Payments in S. Korea
Google will allow third-party payments for apps on its Android Google Play app store to comply with South Korea’s “anti-Google” law.
Target Adopts Microsoft-Led Networking Software Project
Target has modified a Microsoft-led open source networking operating system to run in retail stores, underscoring its desire to avoid working with Amazon.
Roku Reports Sharp Slowdown, Partly Caused by Supply Constraints on TVs
Supply chain disruptions also raised Roku’s costs on its streaming devices, resulting in a loss on its devices.
GitHub Switches CEOs as Friedman Departs
Nat Friedman, CEO of GitHub and one of Microsoft's most high-profile open source executives, is leaving to work with startups.
Google Prepares Bid for New Pentagon Cloud Contract
The contract shows the importance of lucrative government cloud deals even when they threaten to cause ethical pushback from workers.
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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