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Lyft co-founder and president John Zimmer. Photo by Bloomberg.

Lyft’s 2016 Financials Show Business Gains

By Amir Efrati · Jan 12, 2017 1:26pm PST · 2 comments

Lyft, the ride-hailing app that’s a distant No. 2 to Uber in the U.S., lost about $600 million last year after generating $700 million in revenue, according to data reviewed by The Information and people with knowledge of the company’s finances.Despite the size of the loss, the 2016 results were a big improvement on the previous year... Lyft, the ride-hailing app that’s a distant No. 2 to Uber in the U.S., lost about $600...

Art by Matt Vascellaro

Washio’s Tumble and the Decline of On-Demand

By Tom Dotan · Jan 9, 2017 7:00am PST · 9 comments

Of all the on-demand businesses that swept through tech in the past couple of years, few were as hyped and strange as laundry. At the center of that spin cycle was Washio, a Los Angeles startup that promised to be an “Uber for Laundry.” Customers could use an app to order their dirty laundry picked up and returned clean the next... Of all the on-demand businesses that swept through tech in the past couple of years, few were as...

Oracle Cloud Hardware Exec Departs

By Kevin McLaughlin · Jan 5, 2017 6:25pm PST

Scott Genereux, an Oracle senior vice president in charge of hardware sales in North America, recently left the company, said two people with knowledge of the matter. He will join storage vendor Veritas Technologies later this month as executive vice president of worldwide field operations, a Veritas spokeswoman said. Mr. Genereux, who joined... Scott Genereux, an Oracle senior vice president in charge of hardware sales in North America,...

Amazon CEO Jeff Bezos. Photo by Bloomberg.

Amazon Courts Retailers To Use Its Mobile App

By Cory Weinberg · Jan 5, 2017 1:59pm PST

Amazon CEO Jeff Bezos. Photo by Bloomberg.

Amazon Courts Retailers To Use Its Mobile App

By Cory Weinberg · Jan 5, 2017 1:59pm PST

Amazon.com is planning to let competing retailers integrate with its mobile app, as part of a broader effort to power more shopping outside its digital walls, according to a person briefed by the company.The service, which Amazon is calling “place cards,” would let a consumer click on an email from a store that takes them to an app... Amazon.com is planning to let competing retailers integrate with its mobile app, as part of a...

Fiat Chrysler CEO Sergio Marchionne. Photo by Bloomberg.

Fiat’s Secret Self-Driving Car Shows How Industry May Evolve

By Amir Efrati · Dec 29, 2016 1:02pm PST · 3 comments

Fiat Chrysler has garnered outsized headlines for becoming the first traditional carmaker to make electric minivans with self-driving technology designed by Alphabet’s Waymo. Behind the scenes, however, Fiat Chrysler is developing its own autonomous vehicles so that it won’t be just a metal bender for tech companies like Waymo, The... Fiat Chrysler has garnered outsized headlines for becoming the first traditional carmaker to make...

Art by Matt Vascellaro.

Amazon Echo and the Hot Tub Murder

By Tom Dotan and Reed Albergotti · Dec 27, 2016 7:01am PST · 6 comments

Be careful what you say around your Amazon Echo. Your words may be recorded and used against you in court.In what may be the first case of its kind, police investigating a murder in Bentonville, Arkansas, issued a warrant to Amazon.com to turn over audio and other records from an Echo. The device in question belongs to James Andrew Bates, who... Be careful what you say around your Amazon Echo. Your words may be recorded and used against you...

Alphabet CEO Larry Page. Photo by Bloomberg.

Employee Lawsuit Accuses Google of ‘Spying Program’

By Reed Albergotti · Dec 20, 2016 1:15pm PST · 5 comments

A Google product manager is suing the company over its internal confidentiality policies, saying they breach California labor laws. Among other things, the lawsuit alleges Google runs an internal “spying program” which relies on employees voluntarily reporting other employees who might have leaked information.The lawsuit alleges that... A Google product manager is suing the company over its internal confidentiality policies, saying...

Source: PitchBook

Fidelity Slows Private Tech Deals

By Alfred Lee · Dec 20, 2016 7:00am PST

Source: PitchBook

Fidelity Slows Private Tech Deals

By Alfred Lee · Dec 20, 2016 7:00am PST

Fidelity Investments made fewer private tech investments this year in part because it couldn’t agree with companies over the level of their valuations, according to Andy Boyd, Fidelity’s head of global equity capital markets. Fidelity had sought to invest at lower valuations that companies would not accept, Mr. Boyd told The... Fidelity Investments made fewer private tech investments this year in part because it...

Uber CEO Travis Kalanick. Photo by Bloomberg.

Uber’s Loss Decelerates, Reflecting China Exit

By Amir Efrati · Dec 19, 2016 12:55pm PST

Uber lost more than $800 million in the third quarter of this year, before interest, taxes and stock-based compensation, according to people familiar with its finances. But Uber’s departure from China in the middle of the quarter helped slow the growth rate of its losses to less than 25% year over year, down from 34% year over year in the... Uber lost more than $800 million in the third quarter of this year, before interest, taxes and...

Waymo CEO John Krafcik. Photo by Bloomberg.

Google’s Car Diaspora

By Amir Efrati · Dec 13, 2016 9:53am PST · 2 comments

At least a dozen senior members of the Google autonomous car team have departed in the past year, most of them to Uber and to a self-driving car startup that’s right next door to Google’s campus in Mountain View. (Scroll down for the list.) The unit, which Alphabet said on Tuesday would become its own division called... At least a dozen senior members of the Google autonomous car team have departed in the past year,...

A Google self-driving car on the road in Mountain View, Calif. Photo by Amir Efrati.

Google Scaled Back Self-Driving Car Ambitions

By Amir Efrati · Dec 12, 2016 5:01pm PST · 1 comment

Alphabet has backed off plans to develop a revolutionary car without a steering wheel or pedals, at least for now, according to people close to the closely-watched project. Instead, the self-driving car pioneer has settled on a more practical effort to partner with automakers to make a vehicle that drives itself but has traditional features for... Alphabet has backed off plans to develop a revolutionary car without a steering wheel or pedals,...

Airbnb CEO Brian Chesky. Photo by Bloomberg.

Brian Chesky’s Big Gamble

By Cory Weinberg · Dec 12, 2016 7:00am PST · 4 comments

Airbnb CEO Brian Chesky. Photo by Bloomberg.

Brian Chesky’s Big Gamble

By Cory Weinberg · Dec 12, 2016 7:00am PST · 4 comments

Last month, Airbnb launched its second act, called Trips. The service—unveiled on the stage of an ornate Los Angeles theater hosting the startup’s annual festival—is designed to capture the three-quarters of traveler dollars that don’t go to lodging.A dive into Trips, an effort to make money from all travel services,... Last month, Airbnb launched its second act, called Trips. The service—unveiled on the stage...

Magic Leap CEO Rony Abovitz. Photo by Bloomberg.

The Reality Behind Magic Leap

By Reed Albergotti · Dec 8, 2016 2:46pm PST · 10 comments

Plantation, Florida—In a massive, nondescript office complex far from the hustle of Silicon Valley, Magic Leap has become one of the hottest companies in the world of “mixed reality,” creating a headset that shows people images overlaid against the real world—like a cartoon-like firefly that controls a real-life lamp by... Plantation, Florida—In a massive, nondescript office complex far from the hustle of Silicon...

Zenefits CEO David Sacks. Photo by Bloomberg.

Updated: Zenefits Searching for Possible New CEO

By Tom Dotan and Jessica E. Lessin · Dec 2, 2016 4:25pm PST · 9 comments

Zenefits is trying to recruit senior managers who could replace CEO David Sacks, less than a year after he took over from embattled co-founder Parker Conrad, according to a person close to the company.If Mr. Sacks decides to step aside, he could take another role at the company like executive chairman. A company spokeswoman said: “David is... Zenefits is trying to recruit senior managers who could replace CEO David Sacks, less than a year...

An Otto truck coming out of Otto's headquarters in San Francisco. Photo by Flickr/Steve Jurvetson.

Otto and Cruise Near Big Office Deals

By Cory Weinberg · Dec 1, 2016 10:42am PST

Self-driving car firms are reigniting demand for office space in San Francisco’s real estate market. Cruise Automation and Otto, self-driving auto companies each recently acquired by bigger firms, are close to completing some of the largest office lease deals of the year in San Francisco, according to people familiar with the discussions.... Self-driving car firms are reigniting demand for office space in San Francisco’s real...

Snap CEO Evan Spiegel. Photo by Larry Busacca/Getty Images.

Snapping up Snap Ahead of IPO Proves Tough

By Alfred Lee · Dec 1, 2016 7:01am PST · 1 comment

Snap CEO Evan Spiegel. Photo by Larry Busacca/Getty Images.

Snapping up Snap Ahead of IPO Proves Tough

By Alfred Lee · Dec 1, 2016 7:01am PST · 1 comment

Much like the crowds lining up to buy Snap’s new Spectacles, investors are rushing to grab stock in the owner of Snapchat before it goes public next year. But they’re finding little to buy as they scout the typical sources of stock—employees and other investors.Those existing shareholders are rebuffing offers to sell, even... Much like the crowds lining up to buy Snap’s new Spectacles, investors are rushing to grab...

Fitbit CEO James Park. Photo by Bloomberg.

Fitbit To Buy Pebble

By Reed Albergotti and Jessica E. Lessin · Nov 30, 2016 6:33pm PST · 2 comments

Fitbit, the leader in the fitness band market, is near a deal to acquire smartwatch maker Pebble, according to three people briefed on the deal.The price couldn’t be learned but it is thought to be for a small amount. Pebble had been looking to sell, one of the people said. There have been signs over the past year or so that Pebble was... Fitbit, the leader in the fitness band market, is near a deal to acquire smartwatch maker Pebble,...

Google Cloud chief Diane Greene. Photo by Bloomberg.

Google Reorganizing Cloud Sales Team

By Kevin McLaughlin · Nov 28, 2016 7:02am PST · 2 comments

Google is reorganizing its Google Cloud division to combine its sales teams for Google Apps—now called G Suite—and its cloud hosting services, said two people with knowledge of the move. Google Cloud chief Diane Greene is hoping that unifying the structure will reduce costs and help the company close big deals faster to better... Google is reorganizing its Google Cloud division to combine its sales teams for Google...

A DJI "Inspire" drone. Photo by Bloomberg.

To Head Off Slowdown, Drone Leader DJI Targets Businesses

By Amir Efrati · Nov 23, 2016 10:01am PST · 4 comments

Known as the “Apple of drones,” DJI is flying high this year after mostly clearing the skies of its hardware competitors in the consumer market. But CEO Frank Wang isn’t winding down. He’s pitting teams of DJI engineers and salespeople against each other, with financial consequences for some of the winners and losers,... Known as the “Apple of drones,” DJI is flying high this year after mostly clearing...

Airbnb CEO Brian Chesky. Photo by Bloomberg.

Airbnb Plots Big China Push

By Cory Weinberg · Nov 23, 2016 7:01am PST

Airbnb CEO Brian Chesky. Photo by Bloomberg.

Airbnb Plots Big China Push

By Cory Weinberg · Nov 23, 2016 7:01am PST

Airbnb plans to expand its small Beijing office tenfold to 300 employees over the next two years after years of tiptoeing into the country. The on-the-ground expansion would bolster recent momentum, as Airbnb says by the end of next month it will have doubled its listings year over year in China to 100,000.China accounts for just 3% of total... Airbnb plans to expand its small Beijing office tenfold to 300 employees over the next two years...