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

Ofo bicycles available for rent. Photo by Ofo.

China’s Bike-Sharing Craze Gains Speed

By Yunan Zhang · Jun 8, 2017 10:02am PDT · 1 comment

In little more than a year, China’s city sidewalks have become crowded by the brightly hued bicycles of dozens of rival bike-sharing startups. As the bikes lure throngs of riders, investors have taken notice: The two largest bike rental companies, Ofo and Mobike, have raised a combined $1 billion from funders, including Yuri Milner’s... In little more than a year, China’s city sidewalks have become crowded by the brightly hued...

Snap CEO Evan Spiegel. Art by Jeff Greco.

At Snap’s New York Clubhouse: Views, No Photos

By Tom Dotan · Jun 8, 2017 7:02am PDT · 2 comments

Last December, high above Times Square, the who’s who of the New York media world gathered for an exclusive holiday party. Betwixt an atrium-like foyer abutting a well-appointed private library, NBC “Late Night” host Seth Meyers and “Morning Joe” hosts Joe Scarborough and Mika Brzezinski mingled among top cable... Last December, high above Times Square, the who’s who of the New York media world gathered...

Decoded - June 7, 2017

By Matt Vascellaro · Jun 7, 2017 5:41pm PDT · 1 comment

Jana CEO Nathan Eagle in 2016. Photo: Collision Conf

Verizon-Backed Jana Lays Off 19% of Staff

By Cory Weinberg · Jun 7, 2017 2:17pm PDT · 1 comment

Jana CEO Nathan Eagle in 2016. Photo: Collision Conf

Verizon-Backed Jana Lays Off 19% of Staff

By Cory Weinberg · Jun 7, 2017 2:17pm PDT · 1 comment

Jana, a mobile advertising startup focused on providing internet access to people in developing countries, laid off 13 employees this week, as the company planned to shut down what had been its flagship product.The cuts, confirmed by CEO Nathan Eagle, underline Jana’s ups and downs, as it fired sales and marketing employees that had worked... Jana, a mobile advertising startup focused on providing internet access to people in developing...

Katerra CEO Michael Marks. Art by Matt Vascellaro.

The Big Interview

Electronics Veteran Wants to Bring Tech Velocity to Housing Construction

By Cory Weinberg · Jun 7, 2017 10:01am PDT · 3 comments

Several startups have tried to take a bite of the hundreds of billions of dollars spent annually on the construction of residential buildings in the United States. Few have succeeded. The latest to try, and perhaps the most ambitious, is Katerra. Led by several veterans of electronics and supply chain management, Katerra is now trying to put... Several startups have tried to take a bite of the hundreds of billions of dollars spent annually...

Uber CEO Travis Kalanick. Credit: LeWeb Conference via Flickr

After Revolt, Uber Changes Employee Compensation

By Amir Efrati · Jun 7, 2017 7:01am PDT · 5 comments

In mid-2015, Uber Chairman Garrett Camp and Uber investor Bill Gurley, who were part of the board of directors’ compensation committee, expressed concern to company leaders that Uber was doling out so much equity compensation to new hires that it was quickly diluting existing shareholders.So CEO Travis Kalanick, who owned more than 30% of... In mid-2015, Uber Chairman Garrett Camp and Uber investor Bill Gurley, who were part of the board...

Photo: Associated Press

Uber Terminated About 20 People for Misconduct

By Amir Efrati · Jun 6, 2017 11:31am PDT · 2 comments

Uber has fired around 20 people this year as a result of an internal investigation into workplace misconduct, such as discrimination, sexual harassment, bullying, retaliation and physical safety, company executives revealed to employees this morning, according to two people who listened to a briefing on the findings.In addition, after about 200... Uber has fired around 20 people this year as a result of an internal investigation into workplace...

Blue Apron provides fresh ingredients for cooking. Photo by The Associated Press.

Blue Apron Maintains Edge in Recipe for Growth, but Competition Looms

By Alfred Lee · Jun 6, 2017 7:01am PDT · 3 comments

Blue Apron provides fresh ingredients for cooking. Photo by The Associated Press.

Blue Apron Maintains Edge in Recipe for Growth, but Competition Looms

By Alfred Lee · Jun 6, 2017 7:01am PDT · 3 comments

Among the surprises in Blue Apron’s IPO filing last week was that at first blush, it looked worse off than its biggest competitor in meal delivery services, HelloFresh. But a closer look suggests that Blue Apron is positioned to be worth more than HelloFresh in the long run. In the first three months of this year, Blue Apron posted a... Among the surprises in Blue Apron’s IPO filing last week was that at first blush, it looked...

Art by Sam Lessin.

Modest Proposals

A Game Plan for VR and AR in 2017

By Sam Lessin · Jun 5, 2017 10:01am PDT · 14 comments

The VR and AR push of the last several years is at a crossroads. The PR wave that had helped create excitement is subsiding against the backdrop of disappointing technology, content, and adoption. In the last several months the grand vision of useful Augmented Reality has been shelved in favor of fun photo-filters that are fleetingly engaging.... The VR and AR push of the last several years is at a crossroads. The PR wave that had helped...

Hewlett Packard Enterprise's Enterprise Group chief Antonio Neri. Photo by Bloomberg

HPE’s Last Man Standing

By Kevin McLaughlin · Jun 5, 2017 7:01am PDT

Employees of Hewlett Packard Enterprise are due to gather on Wednesday for a quarterly all-hands meeting. Half a dozen executives will speak but the one most closely watched will be Antonio Neri, who runs HPE’s main business. He is now seen by current and former HPE executives as CEO Meg Whitman’s most likely successor.A 22-year... Employees of Hewlett Packard Enterprise are due to gather on Wednesday for a quarterly all-hands...

Modest Conversations

Modest Conversations: Cryptocurrency & ICOs vs. Venture Capital

By Sam Lessin · Jun 4, 2017 10:47am PDT · 2 comments

Alexia Tsotsis and I discuss cryptocurrencies and the evolving conversation about the future of fundraising - initial coin offerings and venture capital. Alexia Tsotsis and I discuss cryptocurrencies and the evolving conversation about the future of...

The Information You Missed This Week

By The Information Staff · Jun 3, 2017 8:01am PDT

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Jun 3, 2017 8:01am PDT

Good Morning!Can’t wait for Twitter’s next earnings call when executives analyze the business implications of covfefe. Good Morning!Can’t wait for Twitter’s next earnings call when executives analyze the...

The Information’s 411 — You Can’t Ignore Washington

By Tom Dotan · Jun 2, 2017 12:47pm PDT

Jessica talks about whether tech is effective in influencing the Trump administration. Amir dives into Uber's finance department and the fight for control. Jessica talks about whether tech is effective in influencing the Trump administration. Amir dives...

Elon Musk. Photo by Bloomberg.

Introducing @SiliconValley: Tech Meets Politics

By Jessica E. Lessin · Jun 2, 2017 7:00am PDT · 3 comments

After President Trump announced his decision to pull out of the Paris climate agreement Thursday, corporate leaders weren’t shy about voicing their views.And, much like the president himself, they took to Twitter to do so. After President Trump announced his decision to pull out of the Paris climate agreement Thursday,...

Jobs@TheInformation

Grow The Information Through Social Media

By The Information Staff · Jun 1, 2017 11:35am PDT · 1 comment

The Information is a fast-growing, thriving media startup in the heart of San Francisco. Politico called us "a well respected, scoopy journalism outfit and a must-read for many global business elites." Fortune, Vanity Fair and Digiday have also recently featured our business as an innovator in media. We’re a must-read for the... The Information is a fast-growing, thriving media startup in the heart of San Francisco. Politico...

An attendee at Facebook’s F8 developers conference last year. Photo by Bloomberg.

Facebook Preps New Teen App, With a Nod Toward Parents

By Cory Weinberg · Jun 1, 2017 10:01am PDT · 2 comments

An attendee at Facebook’s F8 developers conference last year. Photo by Bloomberg.

Facebook Preps New Teen App, With a Nod Toward Parents

By Cory Weinberg · Jun 1, 2017 10:01am PDT · 2 comments

Facebook is trying to find more ways to get younger people to use its apps, potentially by creating a teen-oriented messaging service that gives parents more control over whom their kids can contact.Code inside the main Facebook app points to an unreleased messaging app aimed at young teens called “Talk,” which hasn’t been... Facebook is trying to find more ways to get younger people to use its apps, potentially by...

Uber CEO Travis Kalanick. Photo by Bloomberg.

What Uber’s Next CFO Is Up Against

By Amir Efrati · Jun 1, 2017 7:01am PDT · 1 comment

Uber’s plans to recruit a new chief financial officer come as the ride-hailing company’s financial team grapples with a host of challenges ahead of a possible IPO.Those tests include helping figure out a path to turn a multibillion-dollar loss last year into a profit, lowering per-trip costs, and dealing with standard regulatory... Uber’s plans to recruit a new chief financial officer come as the ride-hailing...

Jared Kushner. Photo by Bloomberg.

Kushner’s Cadre Raising $65M at More Than $800M Value

By Alfred Lee and Serena Saitto · May 31, 2017 6:01pm PDT · 1 comment

Cadre, a New York-based real estate startup partly owned by Jared Kushner, is seeking to raise about $65 million, at a valuation of more than $800 million, according to a corporate filing and a person familiar with the fundraising efforts.The company came under the spotlight earlier this month when the Wall Street Journal reported that Jared... Cadre, a New York-based real estate startup partly owned by Jared Kushner, is seeking to raise...

Employees work at Spotify's offices in Berlin. Photo: Bloomberg

Spotify’s Prospects Hinge on Echoing Netflix’s Success

By Alfred Lee · May 31, 2017 7:01am PDT · 3 comments

Spotify’s stock has leapt to a $13 billion valuation on the secondary market, up from around $8 billion at the end of last year. It reportedly wants to go public at that new price.Whether that price is justified depends on the answer to a question that investors are asking: How much is Spotify like Netflix? There are two ways it could be... Spotify’s stock has leapt to a $13 billion valuation on the secondary market, up from...

Source: SEC Filings

Uber Hiring Outpaces Some Tech Leaders

By Cory Weinberg and Mike Sullivan · May 30, 2017 10:01am PDT · 2 comments

Source: SEC Filings

Uber Hiring Outpaces Some Tech Leaders

By Cory Weinberg and Mike Sullivan · May 30, 2017 10:01am PDT · 2 comments

Over the past year, Uber has added as many or more employees as established heavyweights Apple, Tesla and Facebook did throughout 2016, according to an analysis of hiring trends at large tech firms. The ride-sharing company’s doubling of its workforce to about 12,000 employees means it added more than four times as many people as Snap and... Over the past year, Uber has added as many or more employees as established heavyweights Apple,...