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

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

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Recent Editions

Uber's SVP of business, Emil Michael. Photo by Bloomberg.

The Weekly Digest

The Weekly Digest: The Information You Missed This Week

By The Information Staff · Apr 8, 2017 8:02am PDT

Good Morning!This week the tech industry presented us with a question that speaks to one of the profound issues of our time: which name for a former Yahoo-owned property is worse—Oath or Altaba? Good Morning!This week the tech industry presented us with a question that speaks to one of the...

The Information’s 411 — Facebook’s Opening Kimono

By Tom Dotan · Apr 7, 2017 3:30pm PDT

Cory and Tom talk about Facebook's decision to give advertisers a little more data on campaigns. Then they discuss whether digital media companies are overvalued and what their exit strategies might be. Cory and Tom talk about Facebook's decision to give advertisers a little more data on...

Facebook's Sheryl Sandberg, left, and Marc Pritchard of Procter & Gamble Co. Photo by Bloomberg.

Facebook to Loosen Grip on Ads Data—by Just a Hair

By Cory Weinberg · Apr 7, 2017 7:00am PDT · 4 comments

Facebook is planning to poke a few more holes in its advertising walled garden.The company, which shares little detailed data to help marketers track their campaigns, has told measurement and other ad-tech firms that it will start to release more. For example, it will let marketers track the order in which users see their ads and how many ads... Facebook is planning to poke a few more holes in its advertising walled garden.The company, which...

Bob Xu Xiaoping of ZhenFund. Photo by ZhenFund.

How a Pizza Deliveryman Became China’s Greatest Angel Investor

By Shai Oster · Apr 6, 2017 7:02am PDT · 4 comments

Bob Xu Xiaoping of ZhenFund. Photo by ZhenFund.

How a Pizza Deliveryman Became China’s Greatest Angel Investor

By Shai Oster · Apr 6, 2017 7:02am PDT · 4 comments

Beijing, China—Mr. Soup, a goateed 31-year-old entrepreneur from Shanghai, launches his PowerPoint pitch. At the head of the conference table in a Beijing office tower sits Bob Xu Xiaoping, an avuncular 60-year-old in a monogrammed white shirt and electric blue blazer. Teacher Xu, as he is widely known, is the biggest and most successful... Beijing, China—Mr. Soup, a goateed 31-year-old entrepreneur from Shanghai, launches his...

Martin Sorrell, CEO of WPP. Photo by Bloomberg.

What Amazon Sees in Its Advertising Business

By Eugene Kim · Apr 5, 2017 10:01am PDT · 3 comments

Amazon has long been considered a “sleeping giant” in the ad industry for the vast amount of online shopping data it owns. But now, as that business reaches an estimated $1.4 billion in annual revenue—nearly four times Snapchat’s $404 million in 2016—it’s time to take it more seriously.In February,... Amazon has long been considered a “sleeping giant” in the ad industry for the vast...

Alphabet CEO Larry Page. Photo by Bloomberg.

Google Plots New Hardware to Take on Echo

By Kevin McLaughlin · Apr 5, 2017 7:01am PDT · 3 comments

The battle between Alphabet and Amazon over the home assistant market is heating up. Google has been contemplating a big move to compete with Amazon’s Echo in hardware sales: releasing a version of its Google Home intelligent speaker with built-in mesh Wi-Fi networking, said a person with knowledge of the project. The battle between Alphabet and Amazon over the home assistant market is heating up. Google has...

Uber's SVP of business, Emil Michael. Photo by Bloomberg.

The Man Who Has Travis Kalanick’s Ear

By Amir Efrati · Apr 4, 2017 10:31am PDT

As Uber CEO Travis Kalanick tries to save his company’s reputation, he is again leaning heavily on his most indispensable executive: Emil Michael. Mr. Michael, who has run business development, fundraising and acquisitions at Uber since 2013, is Mr. Kalanick’s closest confidant and has been his go-between with everyone from frenemies... As Uber CEO Travis Kalanick tries to save his company’s reputation, he is again leaning...

*Approximation. Source: Media reports, company disclosures and The Information reporting.

Digital Media Valuations Could Be Tough Sell

By Tom Dotan · Apr 4, 2017 7:01am PDT · 12 comments

*Approximation. Source: Media reports, company disclosures and The Information reporting.

Digital Media Valuations Could Be Tough Sell

By Tom Dotan · Apr 4, 2017 7:01am PDT · 12 comments

BuzzFeed and Vox are sitting on some outsized expectations from investors, based on The Information’s analysis of year-end revenue and valuations for venture-backed digital media companies. But the multiples are high across the board, raising questions about all these companies’ exit options. BuzzFeed and Vox are sitting on some outsized expectations from investors, based on The...

Apple's campus. Photo by Flickr/Bruno Sanchez-Andrade Nuño

Veteran Apple Designer Leaving

By Reed Albergotti · Apr 3, 2017 12:05pm PDT

Long time Apple industrial designer Christopher Stringer is leaving the company in another shakeup to Apple’s vaunted design team. Mr. Stringer, who was at Apple for 21 years, was involved in the first iPhones and iPads and has a rare semi-public profile. He was a key witness in Apple’s years-long legal case against Samsung,... Long time Apple industrial designer Christopher Stringer is leaving the company in another...

Zocdoc founder Cyrus Massoumi. Photo by Bloomberg.

Zocdoc Seeks Treatments for Ailing Numbers

By Alfred Lee · Apr 3, 2017 10:01am PDT · 1 comment

Back in the heady private tech era of a couple of years ago, Zocdoc scored a sky-high unicorn valuation with some ambitious growth targets. It looks like the company—which helps people find and book doctors—may be falling short.The Information has come across Zocdoc’s confidential financial projections for this year from late... Back in the heady private tech era of a couple of years ago, Zocdoc scored a sky-high unicorn...

Art by Sam Lessin.

Modest Proposals

Why Twitter Should Start Charging

By Sam Lessin · Apr 3, 2017 7:01am PDT · 19 comments

In the last few months, while the technorati have mostly focused their navel-gazing on the story wars between Facebook and Snapchat, the usual chatter about how Twitter can save itself has been relatively quiet. That said, in late March, Twitter confirmed a small story that they are considering a subscription service for publishers who want... In the last few months, while the technorati have mostly focused their navel-gazing on the story...

Modest Conversations: Virtual and Physical Communities

By Sam Lessin · Apr 2, 2017 3:59pm PDT

Modest Conversations

Modest Conversations: Virtual and Physical Communities

By Sam Lessin · Apr 2, 2017 3:59pm PDT

Justin Shaffer of Public Studio joins to discuss some ideas around how the internet is changing patterns around virtual and physical communities. Justin Shaffer of Public Studio joins to discuss some ideas around how the internet is changing...

Apple executive Eddy Cue. Photo by Bloomberg

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Apr 1, 2017 8:02am PDT

Happy Saturday!What was your favorite April Fool’s joke this year? We can’t decide between Lyft declaring itself “woke” or Elon Musk’s new company, Neuralink. Happy Saturday!What was your favorite April Fool’s joke this year? We can’t decide...

Photo by Flickr/Laineema

Nvidia Poaches Tesla Self-Driving Software Exec

By Amir Efrati · Mar 31, 2017 2:44pm PDT

The merry-go-round of self-driving car talent continues. David Nistér, a top member of the team at Tesla developing semi-autonomous driving features, known as "autopilot," has decamped for Nvidia, a maker of microchips for self-driving cars. Mr. Nistér, who joined Tesla in 2015, is considered to be one of the best... The merry-go-round of self-driving car talent continues. David Nistér, a top member of the...

The Information’s 411 — Uber is a Declawed Bear

By Tom Dotan · Mar 31, 2017 1:55pm PDT · 1 comment

Amir breaks down all the problems at Uber, including the Waymo lawsuit and employees' lack of confidence in Travis. Juro discusses why Baidu is faltering. Amir breaks down all the problems at Uber, including the Waymo lawsuit and employees' lack...

Rizvi was the biggest investor in Twitter at the time of its IPO. Photo by Bloomberg.

Rizvi Scales Back

By Alfred Lee and Martin Peers · Mar 31, 2017 12:44pm PDT

Rizvi was the biggest investor in Twitter at the time of its IPO. Photo by Bloomberg.

Rizvi Scales Back

By Alfred Lee and Martin Peers · Mar 31, 2017 12:44pm PDT

One of the most prominent private equity investors in Silicon Valley, Rizvi Traverse, is pulling back.Rizvi has decided to stop investing money from outsiders and will convert into a “family office” used by Rizvi’s partners, according to Ben Kohn, a managing partner. One of the most prominent private equity investors in Silicon Valley, Rizvi Traverse, is pulling...

An ad for eHi in a railway station in China. Photo by AP.

After Slaying Uber, Didi Faces Domestic Rivals

By Shai Oster, Amir Efrati and Juro Osawa · Mar 31, 2017 7:00am PDT

Didi Chuxing, the Chinese ride hailing app that defeated Uber in China, is facing fresh challenges from a host of local rivals that are raising money and expanding through alliances.The latest challenge may be a potential alliance between China’s second largest car rental firm, eHi Car Services, and Shouqi Group, a state-owned taxi and... Didi Chuxing, the Chinese ride hailing app that defeated Uber in China, is facing fresh...

Eddy Cue, Apple’s senior vice president of Internet software and services. Photo by Bloomberg.

Apple Hires Former YouTube Exec to Boost Video Effort

By Amir Efrati · Mar 30, 2017 3:34pm PDT · 1 comment

Apple has hired Shiva Rajaraman, a veteran product manager from YouTube and Spotify, to help shape the company’s video strategy, according to three people briefed on the hiring. Mr. Rajaraman is the latest in a string of outsiders Apple has hired in recent months to strengthen its position in video, where it lags rivals like Amazon.com and... Apple has hired Shiva Rajaraman, a veteran product manager from YouTube and Spotify, to help...

Mic co-founder Jake Horowitz. Photo by Flickr/Knight Center for Journalism

Digital Media Firms Raise More Money—and More Questions

By Tom Dotan · Mar 30, 2017 7:01am PDT · 2 comments

We’re already a few months into 2017 and if the recent spate of digital media investments are any indication, investors still have an appetite for them. But the fundraisings may only be delaying a consolidation that remains inevitable in the crowded media field.The Information has learned millennial news site Mic is quietly putting... We’re already a few months into 2017 and if the recent spate of digital media investments...

Photo by Julie Mikos.

Announcing the Summit Lunch Breakouts

By The Information Staff · Mar 29, 2017 11:55am PDT · 1 comment

Photo by Julie Mikos.

Announcing the Summit Lunch Breakouts

By The Information Staff · Mar 29, 2017 11:55am PDT · 1 comment

We're so excited to see everyone on April 25th at our sold-out New York Subscriber Summit. An important part of the Summit are our lunch breakouts: a chance for you to hear straight from big names in tech and journalism about the state of their businesses. If you're registered for the Summit, you'll receive an email from... We're so excited to see everyone on April 25th at our sold-out New York Subscriber Summit....