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Ucommune founder Mao Daqing. Photo by Bloomberg.

Chinese WeWork Rival Ucommune Seeks $3 Billion Valuation in Nasdaq IPO

By Yunan Zhang · Feb 20, 2019 2:25am PST · 2 comments

Ucommune, WeWork’s biggest rival in China, is seeking a $3 billion valuation for a New York listing this year, as China’s economic slowdown makes it harder for many startups to raise money. Ucommune has hired investment banks Citigroup and JPMorgan Chase to work on an initial public offering in Nasdaq as early as the third quarter of... Ucommune, WeWork’s biggest rival in China, is seeking a $3 billion valuation for a New York...

Richard Yu, CEO of Huawei's consumer group, presented the MateBook X Pro laptop in Barcelona last year.

How Huawei Targets Apple Trade Secrets

By Wayne Ma · Feb 18, 2019 6:30am PST · 1 comment

As U.S. companies grow more concerned about efforts by Chinese firms to obtain their intellectual property, all eyes are on Huawei Technologies, which the U.S. government recently accused of stealing trade secrets. New reporting by The Information sheds light on Huawei’s tactics, which often have been aimed at one of the company’s... As U.S. companies grow more concerned about efforts by Chinese firms to obtain their intellectual...

Mamoon Hamid. Photo by Kleiner Perkins

The Investor Rebuilding Kleiner Perkins

By Zoë Bernard and Reed Albergotti · Feb 14, 2019 6:30am PST · 2 comments

A few years ago, Kleiner Perkins Caufield & Byers, the storied venture capital firm known for blockbuster bets on Amazon and Google, was in a funk. The firm had lost some of its luster by missing out on early investments in social media, while its reputation was battered by a sexual discrimination lawsuit filed by a former partner. To lead a... A few years ago, Kleiner Perkins Caufield & Byers, the storied venture capital firm known for...

Cast of Epix's "Berlin Station" drama at a premiere in 2016. Photo by AP

MGM Looks for Epix Partner, Two Years After Buying Channel for $1 Billion

By Jessica Toonkel · Feb 12, 2019 10:26am PST

Cast of Epix's "Berlin Station" drama at a premiere in 2016. Photo by AP

MGM Looks for Epix Partner, Two Years After Buying Channel for $1 Billion

By Jessica Toonkel · Feb 12, 2019 10:26am PST

Movie studio MGM Holdings is looking for a strategic partner for its Epix cable channel, to help grow the business and gain access to more programming and distribution, according to two people familiar with the situation. The search comes less than two years after MGM paid nearly a billion dollars for control of Epix.MGM Chairman Kevin... Movie studio MGM Holdings is looking for a strategic partner for its Epix cable channel, to help...

Self-Driving Shuttles Advance in Cities, Raising Jobs Concerns

By Cory Weinberg · Feb 12, 2019 6:30am PST · 4 comments

Thomas Cute, a former bus driver, will be among the first to take a ride this spring in Providence, R.I.’s new, self-driving shuttle. He and other local bus drivers will survey how the small, driverless bus makes its way from the downtown train station, over the Woonasquatucket River, to a neighborhood where few public buses currently run.... Thomas Cute, a former bus driver, will be among the first to take a ride this spring in...

Scenes from Maya and the Three, Magic School Bus Rides Again, Barbie Dreamhouse Adventures.

How Netflix Created a Boom in the Cartoon Industry

By Jessica Toonkel and Tom Dotan · Feb 6, 2019 6:31am PST · 2 comments

As the war between video streaming services heats up, the biggest battleground is being fought over cartoons like “Kung Fu Panda,” “Captain Underpants” and “Curious George.”Hoping to draw in families and children, services like Amazon, Apple, Hulu and especially Netflix are ordering so many new animated movies... As the war between video streaming services heats up, the biggest battleground is being fought...

India’s Oyo, Flush With SoftBank Money, Starts U.S. Expansion

By Cory Weinberg · Feb 5, 2019 10:01am PST · 2 comments

India’s Oyo Hotels and Homes, a $5 billion travel startup backed by SoftBank’s Vision Fund and Sequoia Capital, has started to expand into the U.S., The Information has learned. The company, which is one of India’s largest private tech companies, manages a network of budget hotels in India, Indonesia and China, and faces a... India’s Oyo Hotels and Homes, a $5 billion travel startup backed by SoftBank’s Vision...

Photos by Bloomberg and AP

The Incredible Rise and Fall of China’s Bike Firm Ofo

By Juro Osawa and Yunan Zhang · Feb 5, 2019 6:31am PST · 8 comments

Photos by Bloomberg and AP

The Incredible Rise and Fall of China’s Bike Firm Ofo

By Juro Osawa and Yunan Zhang · Feb 5, 2019 6:31am PST · 8 comments

There are bad tech businesses and very bad ones. And then there is Ofo.At the height of its growth in late 2017, the bicycle-rental startup had trucks driving around cities across China, dropping off brand-new yellow bikes continuously throughout the day for customers to use. Each bike cost Ofo nearly $100. They were meant to last two years.... There are bad tech businesses and very bad ones. And then there is Ofo.At the height of its...

Apple's HomePod. Photo by Bloomberg

Apple’s Siri Leader is Out

By Aaron Tilley and Kevin McLaughlin · Feb 1, 2019 2:21pm PST · 2 comments

The Apple executive responsible for overseeing Siri for the past seven years recently left that role, said five people with knowledge of the change.Bill Stasior, who was recruited from Amazon in 2012 to lead Siri after two of the technology’s creators left Apple, is no longer heading the voice assistant group, though he remains at Apple,... The Apple executive responsible for overseeing Siri for the past seven years recently left that...

Scooters belonging to Mexico's Grin. Photo: Carlos Felipe Pardo/Flickr

Latin American Scooter Startups Merge, Raise $150 Million

By Cory Weinberg · Jan 30, 2019 7:01am PST · 1 comment

Mexico City’s Grin and Sao Paulo’s Yellow, which each took in tens of millions of dollars from Silicon Valley investors to run scooter rental businesses last fall, have merged and raised $150 million in fresh capital, according to executives at both firms. The merger is the latest sign of consolidation in the electric scooter... Mexico City’s Grin and Sao Paulo’s Yellow, which each took in tens of millions of...

Smartphone app Didi Chuxing. Photo by Imaginechina via AP Images.

Didi Chuxing Mulls Layoffs

By Yunan Zhang · Jan 30, 2019 3:37am PST · 4 comments

Ride-hailing giant Didi Chuxing is considering layoffs as it grapples with tighter regulations that limit its supply of drivers and cars, joining other Chinese tech companies whittling costs amidst the slowest economic growth in three decades.While plans haven’t been finalized and the figures may still change before a decision is made,... Ride-hailing giant Didi Chuxing is considering layoffs as it grapples with tighter regulations...

Stripe co-founders Patrick Collison and John Collison. Photo by Bloomberg.

Stripe Raises $100 Million at $22.5 Billion Valuation

By Alfred Lee and Amir Efrati · Jan 29, 2019 4:13pm PST · 1 comment

Stripe co-founders Patrick Collison and John Collison. Photo by Bloomberg.

Stripe Raises $100 Million at $22.5 Billion Valuation

By Alfred Lee and Amir Efrati · Jan 29, 2019 4:13pm PST · 1 comment

Payments startup Stripe has raised an additional $100 million from Tiger Global Management, boosting the firm’s valuation to $22.5 billion, according to a person close to the company.The fundraising is a follow-on round to a $245 million round led by Tiger Global last year, which valued Stripe at $20 billion. The money will be used for... Payments startup Stripe has raised an additional $100 million from Tiger Global Management,...

VIPKid founder Cindy Mi. Photo by Bloomberg

China’s Online Tutor Startup VIPKid Is Seeking $500 Million at $6 Billion Valuation

By Yunan Zhang · Jan 29, 2019 7:46am PST

China’s online English tutor VIPKid is seeking to raise between $400 million to $500 million at a pre-money valuation of $6 billion, according to people familiar with the matter.If successful, the financing would nearly double the education startup’s value from $3.5 billion just a year ago, after it said it raised about $500 million.... China’s online English tutor VIPKid is seeking to raise between $400 million to $500...

The People to Watch Inside Disney’s Video Streaming Group

By Tom Dotan and Beejoli Shah · Jan 28, 2019 11:34am PST

Walt Disney Co.’s ambitious plans to reinvent itself for the streaming era has brought with it an equally ambitious rethinking of how the company runs.At the heart of the changes is the newly created direct-to-consumer and international division, which will house Disney’s new streaming services—ESPN+, which has already... Walt Disney Co.’s ambitious plans to reinvent itself for the streaming era has brought with...

Amazon CEO Jeff Bezos. Art by Mike Sullivan

Amazon Changes Tack on Video Offering, as Apple Joins Market

By Jessica Toonkel · Jan 28, 2019 7:00am PST · 2 comments

Amazon looked intent on becoming a powerful player in the streaming video market by allowing people to sign up for a wide variety of services through their Prime Video accounts—so much so that Apple, Roku and potentially Facebook are now copying the company’s approach. But even as competition increases, Amazon is scaling back its... Amazon looked intent on becoming a powerful player in the streaming video market by allowing...

McAfee CEO Chris Young. Photo by Bloomberg

McAfee Lays Off Hundreds, Senior Executives Depart

By Sarah Kuranda · Jan 24, 2019 11:03am PST

McAfee CEO Chris Young. Photo by Bloomberg

McAfee Lays Off Hundreds, Senior Executives Depart

By Sarah Kuranda · Jan 24, 2019 11:03am PST

McAfee has laid off around 200 employees in the past two weeks, about 4% of its workforce, and eliminated hundreds more open positions, several people familiar with the matter said. At the same time, several senior sales executives, including Bill McAlister, senior vice president of sales for the Americas, have left.The job cuts are the latest... McAfee has laid off around 200 employees in the past two weeks, about 4% of its workforce, and...

Illustration by Mike Sullivan

Free TV With Ads Is Digital Media’s Old New Idea

By Tom Dotan and Jessica Toonkel · Jan 18, 2019 7:01am PST · 5 comments

Two years ago, streaming-device maker Roku circulated a presentation to partners that showed a school of fish swimming toward an area marked “subscription.” Meanwhile, a lone fish labeled “Roku” was heading away from the group toward an area called “advertising.” The implication: Roku was swimming against the... Two years ago, streaming-device maker Roku circulated a presentation to partners that showed a...

Slack CEO Stewart Butterfield at the DLD conference in Berlin in 2017. Photo: AP

Slack’s Financials Ahead of Listing Plans

By Zoë Bernard and Alfred Lee · Jan 15, 2019 10:16am PST

The news that Slack wants to go public through a highly unconventional direct listing, in which it doesn’t sell new shares to raise money, has come as a surprise to some. But the messaging startup has built a strong enough cash position to pull it off, according to financial documents viewed by The Information and a person familiar with... The news that Slack wants to go public through a highly unconventional direct listing, in which...

Comcast CEO Brian Roberts. Photo by Bloomberg.

To Stream or Not: How Comcast’s Wavering on Streaming Left an Opening for Netflix

By Jessica Toonkel · Jan 15, 2019 7:01am PST

Last January, at drinks before an offsite for NBCUniversal’s digital executives in New York City, someone asked NBCU CEO Steve Burke when the Comcast-owned entertainment company was going to launch a service to compete with Netflix, according to a person who was there.Mr. Burke went through an analysis of how much it would cost to compete... Last January, at drinks before an offsite for NBCUniversal’s digital executives in New York...

Photo: Katerra

SoftBank Plans Another Big Investment in Construction Startup

By Cory Weinberg and Alfred Lee · Jan 14, 2019 7:26pm PST

Photo: Katerra

SoftBank Plans Another Big Investment in Construction Startup

By Cory Weinberg and Alfred Lee · Jan 14, 2019 7:26pm PST

SoftBank’s Vision Fund plans to double down on Katerra, a startup run by electronics industry veterans trying to build apartments and hotels faster and cheaper than traditional construction firms. The massive fund is expected to lead a $700 million round of financing that would value Katerra at more than $4 billion, up slightly from its... SoftBank’s Vision Fund plans to double down on Katerra, a startup run by electronics...