Tesla’s Profit Soars in Q2 on Sharply Higher Revenue
The automaker kept a lid on expenses, so its revenue translated into net income of $1.1 billion, compared to $104 million a year earlier.
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Thoma Bravo Taking Medallia Private in $6.4 Billion Deal
The market for software that companies use to gather feedback from customers and employees has significant promise but has been slow to take off.
Facebook Reality Labs Announces ‘Metaverse Product Group’
The shakeup was detailed in a post Monday
China Says Food Delivery Drivers Must Be Paid Minimum Wage
Shares in China’s food delivery app Meituan fell sharply after China issued a warning that food delivery drivers must be paid minimum wage.
ThredUp Expands Into Europe With Bulgarian Acquisition
ThredUp is buying Remix, which allows customers to buy and sell previously owned merchandise and collects a fee from transactions processed on its platform.
Tencent Barred From Exclusive Music Copyright Agreements
Tencent was ordered to give up exclusive music streaming rights and pay a fine by China’s market regulators.
China’s Tutoring Ban Could Deal Death Blow to Online Education
Beijing's new rules ban tutoring firms that teach the school curriculum from raising funds or going public.
Electric Truck Maker Rivian Raises $2.5 Billion Round
Electric truck maker Rivian said it has raised $2.5 billion in a new round led by Amazon and others.
EU Gearing Up for Lengthy Probe of Facebook’s $1 Billion Kustomer Deal
Europe adds to the antirust headaches for the companies, following an in-depth FTC review in February.
AWS Accused of Gouging Customers for Networking Bandwidth
The costs of moving data out of AWS are again in the spotlight, as an industry executive calls out the cloud provider for overcharging customers for bandwidth.
Alphabet ‘Moonshot’ Robotics Startup Graduates
The startup focused on industrial robotics software joins a stable of Alphabet-backed startups that have struggled to generate revenue
Indian Food Delivery Firm Zomato’s Stock Jumps in Market Debut
Zomato's strong market debut could pave the way for other unprofitable Indian tech unicorns that are preparing their IPOs.
Snap’s Revenue Jumps 116%, Beating Expectations
The social media company has exceeded forecasts with major jumps in revenue and daily active users.
Twitter Reports 79% Revenue Growth in Q2
The growth rate was the fastest for Twitter since 2014 and reflects both the robust digital ad market compared with the pandemic-depressed second quarter of last year.
Index Ventures Raises $3.1 Billion Across Three New Funds
The London and San Francisco-based VC firm owns a stake in Robinhood worth approximately $3.4 billion.
Former CBS CEO, Executives Form SPAC
The new firm aims to differentiate itself among other media and tech SPACs in part by focusing on assets within existing media, telco and tech firms that could be carved out.
AT&T Sees Slowdown in Growth of People Signing Up for HBO Max
HBO Max saw only 2.3 million sign up for the service last quarter, down from 2.8 million the previous quarter.
China’s Regulators Weigh Serious Penalties for Didi
The regulators are weighing a range of potential punishments less than a month after Didi's controversial U.S. initial public offering.
Clearview AI Raises $30 Million From Investors Despite Controversy
New York-based Clearview, which sells facial recognition technology to law enforcement agencies, faces lawsuits and government investigations.
FTC Issues ‘Right to Repair’ and Merger Enforcement Policies
Both policies will lead to increased antitrust enforcement against technology companies.
Weekday mornings
The Information AM by The Information Staff
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