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

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The Briefing

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

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Recent Editions

Robinhood co-CEO Vlad Tenev. Photo by Bloomberg

Robinhood’s Big Funding Streak: The Information’s Tech Briefing

By Martin Peers · Aug 17, 2020 5:31pm PDT

Online trading startup Robinhood said Monday it had raised $200 million, a month after raising $320 million, which in turn was two months after it raised $280 million. With the latest funding round, Robinhood’s valuation has risen to $11.2 billion from $8.6 billion last month.If nothing else, the company’s astonishing ability to... Online trading startup Robinhood said Monday it had raised $200 million, a month after raising...

TikTok's global business solutions vice president Blake Chandlee. Photo by Bloomberg

TikTok’s Uncertain Future Gives Advertisers Pause

By Anissa Gardizy · Aug 17, 2020 7:01am PDT

Until recently, restaurant chain The Halal Guys was considering advertising on TikTok, recognizing its popularity with younger members of its audience. But in the wake of the political turmoil over TikTok’s ownership, the company rethought those plans.“Given the recent turn of events, I’d prefer to take a ‘wait and... Until recently, restaurant chain The Halal Guys was considering advertising on TikTok,...

Lipstick in a mall in China. Photo by Imaginechina via AP Images.

Chinese Cosmetics Startup Perfect Diary Aims to Double Valuation to $4 Billion

By Yunan Zhang · Aug 17, 2020 5:01am PDT

Riding a wave of rebounding internet shopping and rising nationalism among young Chinese consumers, Perfect Diary, the four-year-old Chinese online makeup brand, is in talks to raise between $100 million and $200 million. If successful, the investment would double the startup’s valuation to $4 billion from $2 billion when it last... Riding a wave of rebounding internet shopping and rising nationalism among young Chinese...

Pinterest CEO Ben Silbermann. Photo by Bloomberg

Our (Mostly Male) Tech CEOs Face a Time of Reckoning

By Jessica E. Lessin · Aug 15, 2020 7:45am PDT · 7 comments

Pinterest CEO Ben Silbermann. Photo by Bloomberg

Our (Mostly Male) Tech CEOs Face a Time of Reckoning

By Jessica E. Lessin · Aug 15, 2020 7:45am PDT · 7 comments

Earlier this week, while scanning Twitter in between meetings, I saw an article about a new gender discrimination suit filed against Pinterest. I made a mental note to read it later. The female in me is always disturbed by and wants to know more about these suits. But the editor in me too often gets distracted by other topics dominating the... Earlier this week, while scanning Twitter in between meetings, I saw an article about a new...

An Uber driver. Photo by Bloomberg

Uber and Lyft Face Pivotal Week: The Information’s Tech Briefing

By Martin Peers · Aug 14, 2020 5:17pm PDT · 2 comments

The coming week is pivotal for Uber and Lyft. That’s when they are likely to hear the results of their request to postpone a judge’s ruling that they immediately reclassify their drivers in California as employees, rather than independent contractors, until an appeals court can hear the case.If the appeals court says the ruling must... The coming week is pivotal for Uber and Lyft. That’s when they are likely to hear the...

The Information’s 411 — Benioff at Sea

By Tom Dotan · Aug 14, 2020 12:51pm PDT

Kevin discusses Marc Benioff, the Salesforce CEO and philanthropist. His profile earlier this week described how Benioff is managing during the pandemic, especially now that Salesforce's marquee event, Dreamforce, appears to be off this year. Also, Tom chats with Alex about Apple's changes to ad tracking and the effect it will have on... Kevin discusses Marc Benioff, the Salesforce CEO and philanthropist. His profile earlier this...

Asana co founders Dustin Moskovitz and Justin Rosenstein. Photo by AP

Asana, Weeks Away From a Listing, Projects Annual Revenue Growth of 66%

By Ross Matican and Cory Weinberg · Aug 14, 2020 10:43am PDT

Workplace software firm Asana, which is planning to go public next month, is projecting a 66% increase in revenue this year, partly due to the impact Covid-19 has had on remote work, according to previously unreported financial projections the company has given its investors. As of July, Asana was projecting it would boost revenue to $236... Workplace software firm Asana, which is planning to go public next month, is projecting a 66%...

Illustration by Shutterstock

Remote 2.0: Companies Hunker Down at Home

By Nick Bastone · Aug 14, 2020 7:02am PDT · 1 comment

Illustration by Shutterstock

Remote 2.0: Companies Hunker Down at Home

By Nick Bastone · Aug 14, 2020 7:02am PDT · 1 comment

Not long after tech companies shifted staff home in March, executives started to draw up plans for a staggered return, when employees would start coming back to half-empty offices and Plexiglas workstations.The surge of coronavirus cases over the summer halted those plans. Facebook, Google and Uber have extended their mostly remote policies... Not long after tech companies shifted staff home in March, executives started to draw up plans...

A screen shot of Epic's video spoofing Apple's 1984 ad about Big Brother

Apple’s App Battle Royale: The Information’s Tech Briefing

By Martin Peers · Aug 13, 2020 5:46pm PDT

It is fitting that the next mobile app store battle royale is happening over a piece of software that is part of a genre called battle royale games. On Thursday, the company behind the hit game Fortnite, Epic Games, announced it was permanently discounting—by as much as 20%—its prices on virtual currency in the game. To do so on... It is fitting that the next mobile app store battle royale is happening over a piece of software...

Police investigated a shooting in Orinda, Calif., during a party at a rental home last October. Photo: AP

Airbnb Wrestles With House Party Problem Ahead of IPO

By Cory Weinberg · Aug 13, 2020 10:59am PDT · 6 comments

Chris Fling heard gunshots at around 1 a.m. two weekends ago across the street from his Tulsa, Okla., home. He had been watching dozens of young people gather earlier that evening at the house, which had been rented on Airbnb for the night. One teenager at the party had been shot in the arm, the Tulsa police said. The next day, Fling found... Chris Fling heard gunshots at around 1 a.m. two weekends ago across the street from his Tulsa,...

Alexis Ohanian, co-founder of Reddit and Initialized Capital, in August 2019. Photo: AP

Reddit Co-Founder Alexis Ohanian Plots New Early-Stage VC Fund

By Kate Clark · Aug 13, 2020 7:02am PDT

Reddit co-founder Alexis Ohanian has begun meeting with investors to raise money for a new venture firm following his departure from Initialized Capital, the early-stage investing fund he co-founded, according to two people familiar with the matter. Ohanian in June said he was leaving Initialized, which backed high-valued startups such as... Reddit co-founder Alexis Ohanian has begun meeting with investors to raise money for a new...

Pinterest CEO Chris Silbermann. Photo by Bloomberg

Pinterest’s Culture Challenge: The Information’s Tech Briefing

By Martin Peers · Aug 12, 2020 6:16pm PDT

Pinterest CEO Chris Silbermann. Photo by Bloomberg

Pinterest’s Culture Challenge: The Information’s Tech Briefing

By Martin Peers · Aug 12, 2020 6:16pm PDT

The subject of gender discrimination in Silicon Valley is back in the news after former Pinterest COO Francoise Brougher published a post on Medium about her experiences dealing with sexism at the company. The detailed post is a little reminiscent of Susan Fowler’s Uber missive of a few years ago—and it may have as much of an impact... The subject of gender discrimination in Silicon Valley is back in the news after former Pinterest...

The Dubsmash music video app. Photo courtesy of Dubsmash.

Facebook, Snap Held Talks to Buy TikTok Rival Dubsmash

By Alex Heath · Aug 12, 2020 2:01pm PDT

Facebook and Snap recently held talks to buy Dubsmash, a lip-syncing video app that has surged in popularity alongside a crop of other TikTok competitors.Dubsmash was approached by both Facebook and Snap about a deal in recent weeks, according to a person familiar with the matter. The acquisition talks progressed far enough to include... Facebook and Snap recently held talks to buy Dubsmash, a lip-syncing video app that has surged in...

WarnerMedia CEO Jason Kilar. Photo by Bloomberg

AT&T Wants $1.5 Billion in Crunchyroll Sale to Sony

By Jessica Toonkel and Tom Dotan · Aug 12, 2020 9:27am PDT

AT&T is in discussions to sell WarnerMedia’s Crunchyroll Japanese anime-streaming service to Sony, according to three people familiar with the situation. If the two sides could reach a deal—which is far from certain—it would strengthen Sony’s position in the niche market, as it already owns a rival anime service... AT&T is in discussions to sell WarnerMedia’s Crunchyroll Japanese anime-streaming...

Fish captured by an Aquabyte camera. Image: Aquabyte

AI Startups Proliferate as Businesses Look for Savings

By Amir Efrati · Aug 12, 2020 7:10am PDT · 3 comments

Artificial intelligence has taken some punches. For years, IBM’s Watson promised to transform the business world but failed to live up to its own hopes and marketing blitz. Tesla CEO Elon Musk and others vowed to build cars that drive themselves, but they aren’t even close to that goal. In June, The Economist declared: “An... Artificial intelligence has taken some punches. For years, IBM’s Watson promised to...

Ali Ghodsi, CEO of Databricks. Image: Databricks

Startup Winners in the AI Boom

By Amir Efrati · Aug 12, 2020 7:02am PDT · 5 comments

Ali Ghodsi, CEO of Databricks. Image: Databricks

Startup Winners in the AI Boom

By Amir Efrati · Aug 12, 2020 7:02am PDT · 5 comments

Dozens of startups, as well as some public companies, are fueling a boom in artificial intelligence that is increasingly automating certain functions of businesses or their products. The Information has learned the revenue and growth figures for some of the highest-profile AI startups (see below), as business customers purchase software allowing... Dozens of startups, as well as some public companies, are fueling a boom in artificial...

Airbnb CEO Brian Chesky. Photo by Bloomberg

September’s (Likely) IPO Spree: The Information’s Tech Briefing

By Martin Peers · Aug 11, 2020 5:02pm PDT

News that Airbnb will file to go public by the end of this month is the latest sign that the post-Labor Day period may see a spate of high profile tech IPOs. Both Palantir and Snowflake have reportedly filed confidentially to go public, while Asana is also said to be planning a public debut this year.Executives at all these companies are... News that Airbnb will file to go public by the end of this month is the latest sign that the...

Illustration by Mike Sullivan

Investors to Watch in the TikTok-Trump War

By Yunan Zhang and Juro Osawa · Aug 11, 2020 9:55am PDT

Behind one of the most valuable private technology companies, ByteDance, is a cadre of some of the world’s most powerful technology investors. While all have been fairly silent on the conflict with the Trump administration and ByteDance’s talks to sell part of TikTok to Microsoft, the investors’ behind-the-scenes... Behind one of the most valuable private technology companies, ByteDance, is a cadre of some of...

A move by Apple to restrict ad tracking on iPhones and iPads could reduce the effectiveness of Facebook's ad tracking system. Photo: AP

Facebook, Gaming Firms Brace for Apple’s Restrictions on Ad Targeting

By Tom Dotan and Alex Heath · Aug 11, 2020 7:02am PDT · 1 comment

Facebook representatives in recent weeks have been meeting with mobile gaming companies, a key group of advertisers, ahead of a major change by Apple that will make it harder for apps to track the behavior of iPhone owners.In the talks, Facebook employees have sought to hear gaming companies’ concerns about Apple’s next mobile... Facebook representatives in recent weeks have been meeting with mobile gaming companies, a key...

Jason Kilar, now chief executive officer of WarnerMedia, at a conference in 2010, when he was chief executive officer of Hulu LLC. Photo: Bloomberg

WarnerMedia’s Big Job Cuts: The Information’s Tech Briefing

By Martin Peers · Aug 10, 2020 5:20pm PDT

Jason Kilar, now chief executive officer of WarnerMedia, at a conference in 2010, when he was chief executive officer of Hulu LLC. Photo: Bloomberg

WarnerMedia’s Big Job Cuts: The Information’s Tech Briefing

By Martin Peers · Aug 10, 2020 5:20pm PDT

WarnerMedia’s layoffs of 600 people today were the latest sign that the entertainment industry is coming to grips with its new reality: The golden rivers of money from cable TV are drying up. With the only growth business for most of the companies coming from streaming, which isn’t a profit maker yet, the companies have no... WarnerMedia’s layoffs of 600 people today were the latest sign that the entertainment...