The Briefing by Martin Peers, Jessica Lessin and the team at The Information

Five times/week

The Briefing

By Martin Peers, Jessica Lessin and the team at The Information

Get smarter about the day’s news in tech, media and finance by following Silicon Valley’s most-read executive newsletter.

By providing your email, you agree to The Information’s Privacy Policy

Recent Editions

China Renaissance founder Fan Bao. Photo by Bloomberg.

Amid IPO Boom, China’s Top Tech Dealmaker Raising $2.5 Billion for Investment Funds

By Juro Osawa · Dec 23, 2020 2:29am PST

China Renaissance, the boutique bank launched by influential tech dealmaker Fan Bao, is in talks to raise about $2.5 billion for two new investment funds that largely will target private tech companies, two people with knowledge of the matter said. The size of the funds shows how successful initial public offerings by Chinese tech startups and... China Renaissance, the boutique bank launched by influential tech dealmaker Fan Bao, is in talks...

Benchmark's Bill Gurley. Photo by Bloomberg

The SEC’s Gift to Startups: The Information’s Tech Briefing

By The Information Staff · Dec 22, 2020 5:01pm PST

Christmas came a few days early for Silicon Valley and one of its leading venture investors, Bill Gurley. The U.S. Securities and Exchange Commission on Tuesday greenlit new rules that will allow companies to raise capital through direct listings of their stock, a change that could provide a more appealing alternative to the traditional initial... Christmas came a few days early for Silicon Valley and one of its leading venture investors, Bill...

Modest Proposals

How Covid Accelerated Changes Already in the Making

By Sam Lessin · Dec 22, 2020 9:27am PST · 5 comments

A year ago, at the close of the decade, I made a set of predictions about 2030. Three months later, on March 9, with the U.S.’s daily count of new Covid-19 cases at 200, I added an early projection about how Covid would change the future of tech. With a year of distance from my 2030 predictions, and nine months of living with Covid as a... A year ago, at the close of the decade, I made a set of predictions about 2030. Three months...

Cloudflare's Matthew Prince, Amazon's Jeff Bezos, Zoom's Eric Yuan, Twilio's Jeff Lawson and CrowdStrike's George Kurtz. Photos provided by the companies, Bloomberg

Who’s Hiring Fastest in Tech? Amazon, Zoom, Twilio

By Nick Wingfield · Dec 22, 2020 6:02am PST · 2 comments

Cloudflare's Matthew Prince, Amazon's Jeff Bezos, Zoom's Eric Yuan, Twilio's Jeff Lawson and CrowdStrike's George Kurtz. Photos provided by the companies, Bloomberg

Who’s Hiring Fastest in Tech? Amazon, Zoom, Twilio

By Nick Wingfield · Dec 22, 2020 6:02am PST · 2 comments

The tech sector as a whole is still bleeding jobs due to the coronavirus pandemic. Cloudflare definitely isn’t, though. The company—which operates a content delivery network currently in high demand from customers—is one of a handful of tech companies that saw staffing levels increase by double-digit percentages in their most... The tech sector as a whole is still bleeding jobs due to the coronavirus pandemic. Cloudflare...

A pedestrian wearing a protective mask walks past signage for SoftBank Corp. in Tokyo, Japan. Photo: Bloomberg.

Apple’s Auto Moonshot; SoftBank’s SPAC: The Information’s Tech Briefing

By The Information Staff · Dec 21, 2020 5:32pm PST

Last week, we wrote that as Apple gets closer to nailing down a prototype electric self-driving car, leaks about the vehicle would be inevitable next year. Turns out we were a few days off. Reuters on Monday provided the most detailed update about Apple’s Project Titan in quite a while, though there’s still a lot unknown, including... Last week, we wrote that as Apple gets closer to nailing down a prototype electric self-driving...

Ironclad co-founders Jason Boehmig, CEO (L) and Cai GoGwilt, CTO (R). Photo provided by Ironclad

Mary Meeker’s VC Firm Bond Invests in Ironclad at Nearly $1 Billion Valuation

By Kate Clark and Ross Matican · Dec 21, 2020 12:21pm PST

Ironclad, which develops software that helps companies such as Dropbox and Mastercard create and manage business contracts, has raised at least $100 million in a Series D funding at a post-investment valuation of more than $950 million, or more than double its valuation from a year ago, according to several people familiar with the deal. Bond,... Ironclad, which develops software that helps companies such as Dropbox and Mastercard create and...

Opendoor CEO Eric Wu. Photo: Bloomberg

Opendoor Rides SPAC Deal to Lofty $18 Billion Valuation at Market Debut

By Cory Weinberg · Dec 21, 2020 6:00am PST · 2 comments

Venture-backed real estate startup Opendoor will start trading as a public company today, after its merger with a special purpose acquisition company closed Friday. Even before trading begins, the deal has inspired the kind of investor frenzy that surrounds the hottest IPOs. By Friday afternoon, investors had bid up the stock price of the SPAC... Venture-backed real estate startup Opendoor will start trading as a public company today, after...

Five 2020 Tech Stories That Changed the Conversation

By Jessica E. Lessin · Dec 19, 2020 7:46am PST

Five 2020 Tech Stories That Changed the Conversation

By Jessica E. Lessin · Dec 19, 2020 7:46am PST

It often starts with an email, a document, a piece of reporting that is solid and specific but small. Then the fun happens. The reporting. The phone calls—sometimes months and months of them. Many times this year, our team uncovered stories that changed the conversation—and in many cases decided the fate of a business. I’m... It often starts with an email, a document, a piece of reporting that is solid and specific but...

Zoom CEO Eric Yuan. Photo by Bloomberg

Feds Charge Former Zoom Executive With Conspiracy: The Information’s Tech Briefing

By Martin Peers · Dec 18, 2020 5:31pm PST

News that the Justice Department had filed conspiracy charges against a former China-based Zoom Video executive seems sure to shine a laser focus on the high-flying videoconference company in the coming days. Zoom said it had fired the executive and was cooperating with the government. The allegations underlying the charges are sure to shock... News that the Justice Department had filed conspiracy charges against a former China-based Zoom...

The Information’s 411 — Is 2020 a One-Off for Business?

By Tom Dotan · Dec 18, 2020 2:39pm PST

As the year winds down we look ahead to what we think will transpire in 2021. Tom chats with Jessica Toonkel and Martin Peers about the tumult in media and whether Hollywood really is abandoning theaters. Then Cory talks with Zoë Bernard and Kate Clark about changes in the investing space and why financial services startups took off... As the year winds down we look ahead to what we think will transpire in 2021. Tom chats with...

Hopin founder and CEO Johnny Boufarhat

How Johnny Boufarhat Built the Fastest Software Startup ‘Unicorn’ in History

By Zoë Bernard · Dec 18, 2020 6:01am PST · 7 comments

In the annals of venture capital, Hopin, which enables businesses to host events online, is a unicorn among unicorns: It might be the fastest business software startup to reach a private “unicorn” valuation of $1 billion, let alone the $2.1 billion it reached last month—just under a year after it was founded. Hopin owes that... In the annals of venture capital, Hopin, which enables businesses to host events online, is a...

Alphabet CEO Sundar Pichai in January in Brussels. Photo by Bloomberg

Google’s Antitrust Trifecta: The Information’s Tech Briefing

By Martin Peers · Dec 17, 2020 5:02pm PST

Alphabet CEO Sundar Pichai in January in Brussels. Photo by Bloomberg

Google’s Antitrust Trifecta: The Information’s Tech Briefing

By Martin Peers · Dec 17, 2020 5:02pm PST

Another day, another Google antitrust lawsuit. Today’s installment from 38 states and territories, attacking Google’s dominance in search, covers much of the ground laid out in the Justice Department’s lawsuit against Google in late October. But the list of allegations spelled out today paints an unflattering picture of the... Another day, another Google antitrust lawsuit. Today’s installment from 38 states and...

The New York Stock Exchange. Photo by AP

2021 Tech IPO Preview

By The Information Staff · Dec 17, 2020 6:02am PST · 9 comments

After so many tech companies rushed to the public markets this year, you might wonder whether there are any companies left to go public. In fact, there are quite a few. We’ve compiled a list of 20 tech companies, such as Instacart and Poshmark, that are expected to take the plunge in 2021. The lineup will test just how intense investor... After so many tech companies rushed to the public markets this year, you might wonder whether...

Google CEO Sundar Pichai

What the Google Ads Antitrust Lawsuit Doesn’t Say

By Amir Efrati, Alex Heath and Christopher Stern · Dec 16, 2020 7:28pm PST · 6 comments

Antitrust lawsuits are meant to make their targets look bad, and the Texas attorney general’s long-anticipated case filed on Wednesday against Google for allegedly using advertising technology to muscle out competitors is no exception. There are the “Star Wars”–related code names Google used to describe its secret plans... Antitrust lawsuits are meant to make their targets look bad, and the Texas attorney...

Facebook CEO Mark Zuckerberg. Photo by Bloomberg

What Facebook-Apple Battle Could Mean: The Information’s Tech Briefing

By Martin Peers · Dec 16, 2020 5:01pm PST · 4 comments

It’s hard not to feel that Apple CEO Tim Cook has only himself to blame for the battle he now finds himself in with Facebook. Over the past few years he spent an inordinate amount of time preaching about the evils of the advertising-based business model of Facebook and others. It’s not a surprise Facebook CEO Mark Zuckerberg would... It’s hard not to feel that Apple CEO Tim Cook has only himself to blame for the battle he...

Alibaba's Jack Ma and Indian prime minister Narendra Modi. Photos by Bloomberg and AP

How Alibaba Lost India: A Tale of Missed Opportunities and Bad Luck

By Juro Osawa · Dec 16, 2020 10:22am PST · 4 comments

Alibaba's Jack Ma and Indian prime minister Narendra Modi. Photos by Bloomberg and AP

How Alibaba Lost India: A Tale of Missed Opportunities and Bad Luck

By Juro Osawa · Dec 16, 2020 10:22am PST · 4 comments

In the fall of 2016, Cyrus Mistry, then chairman of India’s biggest conglomerate, Tata Group, flew to China for a crucial meeting with Joe Tsai, Alibaba’s co-founder and executive vice chairman, according to two people with direct knowledge of the visit. Alibaba had been courting Tata, hoping an alliance would jump-start its business... In the fall of 2016, Cyrus Mistry, then chairman of India’s biggest conglomerate, Tata...

A sign outside Facebook's Menlo Park, Calif., headquarters. Photo: Bloomberg

Facebook to Let Users Book Services in Potential Rivalry to Angie’s List

By Alex Heath · Dec 16, 2020 6:01am PST

Facebook is planning to let its users find and book services through its app, a move that could position the social media giant as a competitor to gig economy marketplaces such as TaskRabbit, Fiverr, and Angie’s List. The social network is building a team to focus on services, potentially including home repairs or freelance jobs, within... Facebook is planning to let its users find and book services through its app, a move that could...

Margrethe Vestager, competition commissioner of the European Commission with Thierry Breton, industry commissioner of the European Union, on Tuesday. Photo by Bloomberg

Europe’s Tough New Rules of Digital Road: The Information’s Tech Briefing

By Martin Peers · Dec 15, 2020 5:31pm PST

It may take a couple of years for the ramifications of Europe’s proposed new digital regulations to crystallize. But on first look, it appears the regulations could lead to far-reaching changes for U.S. tech giants. And given the U.S. antitrust actions underway, it’s quite possible the companies will make changes on a global basis,... It may take a couple of years for the ramifications of Europe’s proposed new digital...

Social Finance CEO Anthony Noto, shown in 2018. Photo: Bloomberg

SoFi Q3 Revenue Hit $200 Million, Aided by Low Rates

By Cory Weinberg · Dec 15, 2020 10:54am PST

Social Finance CEO Anthony Noto has spent nearly three years trying to turn around the online lender after internal turmoil. The business now appears to be on a stronger footing as low interest rates drive more borrowing and refinancing across the U.S. Social Finance, known as SoFi, pulled in about $200 million in revenue in the third quarter... Social Finance CEO Anthony Noto has spent nearly three years trying to turn around the online...

Photos by AP and Bloomberg. Illustration by Jesse Howe.

What We Got Right (and Wrong) in Our Predictions for Tech in 2020

By The Information Staff · Dec 15, 2020 7:01am PST · 5 comments

Photos by AP and Bloomberg. Illustration by Jesse Howe.

Predictions 2021

What We Got Right (and Wrong) in Our Predictions for Tech in 2020

By The Information Staff · Dec 15, 2020 7:01am PST · 5 comments

Last year, our reporters made nearly three dozen predictions about the tech industry in 2020. We missed the big one, of course: a global pandemic that caused the deaths of more than 1.6 million, a recession and a shift to remote work for most tech employees. Yet even as the pandemic left indelible marks on the way we live, many of our ... Last year, our reporters made nearly three dozen predictions about the tech industry in 2020. We...