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Salesforce's Bret Taylor (left) and Marc Benioff. Photos by Bloomberg. Art by Mike Sullivan

At Salesforce, a CEO Shift from Benioff to Taylor Draws Near

By Kevin McLaughlin · Oct 7, 2021 6:01am PDT · 1 comment

What will Salesforce look like when its co-founder and CEO, Marc Benioff, finally passes the baton to someone else? The tech industry may get to find out sooner rather than later. In recent months, the company’s No. 2 executive, Bret Taylor, has confided to people close to him that he expects to be promoted to CEO of Salesforce soon,... What will Salesforce look like when its co-founder and CEO, Marc Benioff, finally passes the...

SoftBank CEO Masayoshi Son. Photo: Bloomberg. Art by Mike Sullivan

SoftBank’s Prodigal Son Struggles in New Era

By Berber Jin · Oct 6, 2021 6:30am PDT

On a Wednesday just before the start of summer, SoftBank Group CEO Masayoshi Son gave managers of his company’s venture capital arm a list with thousands of VC-backed startups. Frustrated that SoftBank’s two Vision Funds had missed out on investing in some hot tech companies, he wanted the partners to contact as many of the... On a Wednesday just before the start of summer, SoftBank Group CEO Masayoshi Son gave managers of...

Alex Mather. Photo by Erin Beach

The Athletic Burned Through $95 Million Between 2019 and 2020

By Jessica Toonkel · Oct 4, 2021 1:45pm PDT

Digital sports news firm The Athletic hemorrhaged nearly $100 million cash between 2019 and 2020, according to a presentation prepared for investors, exceeding the $73 million in revenue the company brought in over that same period. The heavy losses reflect primarily the cost of building up a 600-person–strong reporting staff to cover... Digital sports news firm The Athletic hemorrhaged nearly $100 million cash between 2019 and 2020,...

Art from the Axie Infinity NFT game. Photo: Axie Infinity

Andreessen Horowitz Values Developer of NFT Game Axie Infinity at $3 Billion

By Kate Clark and Hannah Miller · Oct 4, 2021 1:19pm PDT · 2 comments

Art from the Axie Infinity NFT game. Photo: Axie Infinity

Andreessen Horowitz Values Developer of NFT Game Axie Infinity at $3 Billion

By Kate Clark and Hannah Miller · Oct 4, 2021 1:19pm PDT · 2 comments

Sky Mavis, the developer of the popular crypto-based online game Axie Infinity, is raising approximately $150 million in Series B funding at a valuation near $3 billion in a new round led by Andreessen Horowitz, according to two people with direct knowledge of the deal. The valuation for the three-year-old startup reflects the tremendous growth... Sky Mavis, the developer of the popular crypto-based online game Axie Infinity, is raising...

Instacart chief revenue officer and former Amazon ad sales executive Seth Dallaire in 2016. Photo by Bloomberg

Instacart Raids Another Tech Giant for Ad Talent: Amazon

By Mark Di Stefano and Sahil Patel · Oct 1, 2021 6:00am PDT

Much has been written about the “Facebookification” of Instacart, after the grocery-delivery firm recruited a string of top executives, including CEO Fidji Simo, from the social media giant. But another Instacart talent raid has been largely overlooked—one it conducted on Amazon, including the retailer’s advertising sales... Much has been written about the “Facebookification” of Instacart, after the...

Deel co-founders Shuo Wang and Alex Bouaziz. Photo provided by Business Wire

Coatue Expected to Invest in Remote Hiring Startup Deel at $5.5 Billion Valuation

By Berber Jin and Kate Clark · Sep 30, 2021 3:37pm PDT · 1 comment

Deel, a startup that develops payroll tools to help companies hire remote workers internationally, is in discussions to raise a new round of funding at a valuation of $5.5 billion, said four people with direct knowledge of the round. Coatue Management, the New York-based investment firm that has raised over $16 billion for private investments... Deel, a startup that develops payroll tools to help companies hire remote workers...

FTC Chair Lina Khan. Photo by Bloomberg

FTC Chief Khan Resurrects Antitrust Review of Zillow Deal That Staff Previously Cleared

By Josh Sisco · Sep 30, 2021 2:40pm PDT

Zillow Group, an operator of apps for real estate listings, is waking up to the new reality of mergers and acquisitions with Lina Khan in charge of the U.S. Federal Trade Commission: Even after the agency allows a specific deal to close, that doesn’t mean the antitrust review is over. About two weeks ago, Khan revived a review of... Zillow Group, an operator of apps for real estate listings, is waking up to the new reality of...

Art by Mike Sullivan

The Mystery Man Who Made Amazon an Ad Giant

By Sahil Patel and Mark Di Stefano · Sep 30, 2021 6:00am PDT · 1 comment

Art by Mike Sullivan

The Mystery Man Who Made Amazon an Ad Giant

By Sahil Patel and Mark Di Stefano · Sep 30, 2021 6:00am PDT · 1 comment

Paul Kotas may be the most important person in internet advertising that almost nobody in advertising has ever heard of. Mention Kotas—the leader of Amazon’s burgeoning, multibillion-dollar ad businesses—around ad agencies, as The Information did to more than a half-dozen senior ad executives, and you’ll get blank stares.... Paul Kotas may be the most important person in internet advertising that almost nobody in...

Photo of AWS CEO Adam Selipsky by Amazon. Illustration by Mike Sullivan

AWS’ Microsoft Problem

By Kevin McLaughlin and Amir Efrati · Sep 28, 2021 6:01am PDT · 3 comments

Microsoft has been on Adam Selipsky’s brain for a while. In 2016, Selipsky—who at the time was the No. 2 executive at Amazon’s cloud computing unit, Amazon Web Services—helped lead discussions with Salesforce to carry out a joint acquisition of Quip, then an independent startup that had made a collection of productivity... Microsoft has been on Adam Selipsky’s brain for a while. In 2016, Selipsky—who at the...

A high school student works on a laptop computer at home during a remote learning day. Photo by Bloomberg

Online Learning Company Udemy Plans October IPO

By Kate Clark · Sep 24, 2021 10:44am PDT · 1 comment

Udemy, a San Francisco–based startup that sells online courses to individuals and businesses, is preparing to file paperwork for an initial public offering whose listing could come as soon as next month, according to two people with direct knowledge of the matter. The company, which raised $50 million at a $3.3 billion valuation in... Udemy, a San Francisco–based startup that sells online courses to individuals and...

Art by Mike Sullivan

Google Seeks Search Deals For TikTok and Instagram Videos

By Sarah Krouse and Kaya Yurieff · Sep 24, 2021 6:01am PDT · 2 comments

If you’ve ever tried searching on Google for one of those TikTok or Instagram videos all your friends are gushing about—such as sea shanties or the Renegade dance—you’ll notice something. The videos don’t show up. Google is trying to fix that—but there’s no guarantee its efforts will succeed. Google... If you’ve ever tried searching on Google for one of those TikTok or Instagram videos all...

Rendering of the YAM-4 spacecraft bus by Blue Canyon Technologies for Loft Orbital. Image provided by Business Wire

Blackrock Values ‘Space Carpool’ Startup Loft Orbital at $550 Million

By Aidan Ryan and Berber Jin · Sep 23, 2021 12:02pm PDT

Rendering of the YAM-4 spacecraft bus by Blue Canyon Technologies for Loft Orbital. Image provided by Business Wire

Blackrock Values ‘Space Carpool’ Startup Loft Orbital at $550 Million

By Aidan Ryan and Berber Jin · Sep 23, 2021 12:02pm PDT

Commercial space startups have had a mixed track record as investment prospects: While shares in space tourism outfit Virgin Galactic have doubled in two years, satellite internet provider OneWeb ended up in bankruptcy court last year. Even after that bumpy ride, investors are still keen on the sector, which they see as a way to bet on the next... Commercial space startups have had a mixed track record as investment prospects: While shares in...

Gorillas founder Kağan Sümer. Photo provided by Gorillas

Gorillas Raising $950 Million Amidst European Delivery Wars

By Mark Di Stefano and Kate Clark · Sep 23, 2021 11:45am PDT

Gorillas, one of the biggest of a crop of European startups in the convenience delivery market, has finalized a $950 million series C fundraising round, valuing the company at $3 billion, according to two people with direct knowledge of the situation. The fundraising is the latest example of the investor frenzy around startups seeking to deliver... Gorillas, one of the biggest of a crop of European startups in the convenience delivery market,...

Illustration by Haejin Park

How Google Spies on Its Employees

By Sarah Krouse · Sep 23, 2021 6:00am PDT · 5 comments

At Google, a seemingly innocuous action can earn an employee the attention of the company’s corporate security department. For example, when Google wants to find out who has been accessing or leaking sensitive corporate information, the company often homes in on employees who are thinking about leaving it. In the past, its security teams... At Google, a seemingly innocuous action can earn an employee the attention of the company’s...

The Athletic co-founder Alex Mather with The Information's Jessica Lessin in 2018. Photo by Erin Beach.

The Athletic Hires LionTree to Find Buyer at Price of More Than $750 Million

By Sahil Patel and Jessica Toonkel · Sep 22, 2021 10:01am PDT

If at first you don’t succeed, try, try again. That appears to be the motto of The Athletic in its efforts to sell itself. After holding unsuccessful discussions for a sale with both Axios and the New York Times Co. over the past few months, the online sports news subscription site has hired investment bank LionTree to help it find a... If at first you don’t succeed, try, try again. That appears to be the motto of The Athletic...

FTC Chair Lina Khan. Photo by Bloomberg

As FTC Shifts Priorities Under Khan, Collusion Probe of Hyatt, Hilton Goes on Ice

By Josh Sisco · Sep 22, 2021 6:01am PDT

FTC Chair Lina Khan. Photo by Bloomberg

As FTC Shifts Priorities Under Khan, Collusion Probe of Hyatt, Hilton Goes on Ice

By Josh Sisco · Sep 22, 2021 6:01am PDT

As Federal Trade Commission antitrust lawyers try to police vast swaths of the economy with limited resources, they’re making trade-offs. The FTC earlier this year stepped up a long-running investigation into whether a group of major hotels including Hyatt, Hilton and Marriott hurt customers by colluding to stop competing for ad space in... As Federal Trade Commission antitrust lawyers try to police vast swaths of the economy with...

Sarah Guo, a general partner at Greylock Partners. Photo by Bloomberg.

Greylock Raises $500 Million in Battle for Seed Deals

By Kate Clark · Sep 21, 2021 11:57am PDT · 2 comments

Greylock Partners has raised $500 million to focus exclusively on seed deals, a pool of funds that will give the 56-year-old venture capital firm the ability to write large checks at “lean-in valuations” and emphasize its commitment to early-stage investing, said general partner Sarah Guo. The money is part of an expansion of a... Greylock Partners has raised $500 million to focus exclusively on seed deals, a pool of funds...

Illustration by Josh Brill

More Startup CEOs Are Moonlighting as VC Investors

By Berber Jin · Sep 21, 2021 6:01am PDT · 1 comment

Late last year, Lattice CEO Jack Altman started an unusual side gig for a startup founder: He raised $20 million from investors for a venture capital fund he was launching while continuing to run Lattice, the developer of human resource management software he co-founded six years ago. Altman’s feat reflects a new trend in startup... Late last year, Lattice CEO Jack Altman started an unusual side gig for a startup founder: He...

Asia Innovations Group co-founder and CEO Andy Tian. Photo by Asia Innovations Group

More TikToks? Consumer Apps Developed in China Find Customers Overseas

By Shai Oster · Sep 20, 2021 6:01am PDT

For years, it seemed China’s mighty consumer app giants couldn’t figure out how to expand overseas. Alibaba, Tencent and many others famously failed. That changed when ByteDance turned TikTok into a global hit. But it’s not just TikTok. China’s software engineers and product managers are starting to crack the code and are... For years, it seemed China’s mighty consumer app giants couldn’t figure out how to...

Chart by Mike Sullivan

The Information Investigation: Amazon Delivery Stations Have More Than Double the Injury Rate of Other Warehouses

By Paris Martineau · Sep 17, 2021 11:26am PDT

Chart by Mike Sullivan

The Information Investigation: Amazon Delivery Stations Have More Than Double the Injury Rate of Other Warehouses

By Paris Martineau · Sep 17, 2021 11:26am PDT

Working at an Amazon warehouse is more dangerous than working at the typical warehouse. But working at an Amazon delivery station, a small shipping hub where delivery vans whiz in and out daily, appears to be the most hazardous warehouse job of all. In 2019 and 2020, injury rates at Amazon delivery stations were more than double the... Working at an Amazon warehouse is more dangerous than working at the typical warehouse. But...