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Reality Check Facebook AR/VR
Facebook Kicks Off a Metaverse Reorganization
By Mathew Olson · July 27, 2021 11:00 AM PDT
Facebook's Oculus Quest 2. Facebook on Tuesday suspended sales of the headset temporarily. Image courtesy Facebook/Oculus
Mark Zuckerberg wasn’t kidding when he said last week he hopes Facebook will morph from a social media giant into a metaverse company. As the company revealed Monday, his ambition is beginning to have real effects on Facebook’s org chart.As reported, Facebook is creating a new Metaverse product group under Facebook Reality Labs. Andrew Bosworth’s, VP of FRL and the overseer of this new group,...
Latest Briefs
 
DataRobot Raises $300 Million, Acquires AI Startup Algorithmia
By Kevin McLaughlin · July 27, 2021
Tencent Temporarily Suspends New User Registration for WeChat
By Wayne Ma · July 27, 2021
Intel to Make Chips for Other Customers Such as Qualcomm, Amazon
By Wayne Ma · July 27, 2021
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Bolt CEO Ryan Breslow. Photo: Bolt
Exclusive
Online Checkout Startup Bolt Valued at $4 Billion
By Kate Clark and Malique Morris
Bolt, a San Francisco-based startup that offers software for online shopping, is raising $333 million in Series D funding at a post-investment valuation of $4 billion, nearly five times its valuation in December, according to three people familiar with the matter.
Matt Mochary. Illustration: Mike Sullivan
Venture Capital Startups
The Coach Behind the Coinbase and Robinhood CEOs
By Kate Clark
Matt Mochary was on a high. AngelList CEO Naval Ravikant had just told the leadership consultant and former startup founder that their 90-minute session had solved a problem Ravikant had been grappling with for decades.
Amazon streaming chief Mike Hopkins. Photos: AP; MGM
Exclusive Media/Telecom Amazon
Mike Hopkins Wants to Make Amazon a Hollywood Powerhouse. MGM is Just the Start.
By Jessica Toonkel
Mike Hopkins had barely gotten his Amazon employee badge when Prime Video, the streaming service he oversaw for the internet retailer, had a possible crisis on its hands.
Exclusive
Robinhood’s Biggest IPO Winners
By Kate Clark
When Robinhood was raising its early funding rounds, co-founder Baiju Bhatt kept a journal. In it were pages filled with the names of over 100 investors, most of them accompanied by an “X” mark to indicate they had passed on the investment, said an early investor who saw the journal.
Illustration by Danielle Davis.
Markets
Boxed, BuzzFeed Debt Deals Show New Financing Option for SPAC Mergers
By Berber Jin
In early March, when online retailer Boxed decided to go public through a merger with a special purpose acquisition company, it expected to raise $150 million by selling equity.
Exclusive Venture Capital Startups
The Robotics Startup That Got Away (From Amazon)
By Mark Di Stefano
When Jeff Bezos attended a private robotics and artificial intelligence event in Palm Springs, Calif., in 2018, one presentation in particular caught the attention of the Amazon founder.