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

Box CEO Aaron Levie. Photo by Bloomberg.

New Employee Perk: Stock Buybacks At Preferred Prices

By Alfred Lee · Oct 21, 2015 7:02am PDT

In 2014, Pure Storage bought back $58 million in shares from employees for $15.73 a share, financing it by issuing preferred stock to outside investors at the same price. It was the second time in two years the company, which went public this month, had financed a buyback of common shares held by employees with preferred stock, regulatory... In 2014, Pure Storage bought back $58 million in shares from employees for $15.73 a share,...

Source: 7Park Data

Tech Scandals That Hurt So Good

By Peter Schulz and Reed Albergotti · Oct 20, 2015 10:01am PDT · 9 comments

Whenever a scandal hits a consumer business, the news media instantly question whether the onslaught of bad news will turn off customers. Rarely does anyone revisit these episodes to see whether there was an impact.But new data shows that there is really no such thing as bad publicity when it comes to the consumer Internet. Even when there is an... Whenever a scandal hits a consumer business, the news media instantly question whether the...

Salesforce president Keith Block. Photo by Bloomberg.

To Find Next $1 Billion, Salesforce Squeezes Partners

By Steve Nellis · Oct 20, 2015 7:01am PDT

On the hunt for its next billion dollars in sales revenue, Salesforce is turning its attention to the thousands of small companies that sell software on the company’s AppExchange and the thousands of consultants that help Salesforce users customize their systems.In recent months, Salesforce has started to raise the cut of software partner... On the hunt for its next billion dollars in sales revenue, Salesforce is turning its attention to...

Source: 7Park Data

Outside U.S., Uber Losing to Locals

By Amir Efrati and Peter Schulz · Oct 19, 2015 2:00pm PDT · 2 comments

Source: 7Park Data

Outside U.S., Uber Losing to Locals

By Amir Efrati and Peter Schulz · Oct 19, 2015 2:00pm PDT · 2 comments

It’s no secret that Uber trails ride-sharing rivals throughout Asia. New data shows that Uber is also behind local competitors in Latin America, China and eastern Europe as well.Uber may have an edge in English-speaking nations, however. The data shows it to be ahead in the United Kingdom and Australia. It’s no secret that Uber trails ride-sharing rivals throughout Asia. New data shows that...

Hayes Barnard. Photo by Jeremiah Rogers.

The Salesman Behind SolarCity

By Reed Albergotti · Oct 19, 2015 7:54am PDT

The word “solar” still gives venture capitalists heartburn. But a second generation of companies with new business models has risen from the ashes of the bankruptcies of a few years ago.At the front of the pack is SolarCity, the $4.7 billion market leader in the race to install solar panels on homeowners’ rooftops. And unlike... The word “solar” still gives venture capitalists heartburn. But a second generation...

The Weekly Digest

The Information You Missed

By The Information Staff · Oct 17, 2015 8:06am PDT

Good Morning! What with Square’s IPO filing, Dell-EMC and the start of quarterly earnings season, there was plenty of tech news to chew on in recent days. Good Morning! What with Square’s IPO filing, Dell-EMC and the start of quarterly...

The Information's 411

The Information’s 411 - Righting Ships

By The Information Staff · Oct 16, 2015 10:37am PDT

The Information’s intern Sam Lessin makes his first appearance on the Podcast, talking about his Monday column that looked at why troubled tech companies rarely pull out of a downward spiral. It isn’t that companies like Twitter and Yahoo aren’t staffed by talented people, but the very nature of tech... The Information’s intern Sam Lessin makes his first appearance on the Podcast, talking...

VC is Getting Disrupted, But Not Democratized

By Jessica E. Lessin · Oct 16, 2015 8:16am PDT · 1 comment

VC is Getting Disrupted, But Not Democratized

By Jessica E. Lessin · Oct 16, 2015 8:16am PDT · 1 comment

There’s an idea floating around that venture capital is getting more open and accessible. People point to the rise of crowdfunding platforms like AngelList and relatively recent legislation like the Jobs Act and predict that it is only a matter of time before the Internet will allow anyone to become the next John Doerr. There’s an idea floating around that venture capital is getting more open and accessible. ...

Evan Spiegel. Photo by Flickr/TechCrunch.

Snapchat’s Twitter Problem

By Tom Dotan · Oct 15, 2015 10:06am PDT · 1 comment

Is Snapchat destined to become more like Facebook or Twitter? That is to say, can it become a service that will be used by 1.4 billion people, like Facebook, and have a market capitalization of $262 billion? Or will it be stuck at around 300 million deeply-engaged users and a market capitalization of $20 billion, not much above Snapchat’s... Is Snapchat destined to become more like Facebook or Twitter? That is to say, can it become a...

Pure Storage CEO Scott Dietzen. Photo by Bloomberg.

How Pure Storage Investors and Executives Are Coming Out Ahead

By Alfred Lee · Oct 15, 2015 7:06am PDT

Few people will remember Pure Storage’s public market debut as a happy occasion. The stock ended up below its initial public offering price, putting a value on the company below its last fundraising round, although it has rallied a bit since.But even at Pure Storage’s lowest point last week, most of the investors including some... Few people will remember Pure Storage’s public market debut as a happy occasion. The stock...

The Information subscribers at this year's Subscriber Summit in San Francisco.

A Unique Job Opportunity at The Information

By The Information Staff · Oct 14, 2015 5:10pm PDT

The Information has a big mission: to build the Financial Times and Wall Street Journal of the digital era, backed by quality reporting that puts readers, not advertisers, first.In the digital news universe, subscription businesses get a bad rap. But we believe they are the most powerful way to deliver quality journalism to engaged readers... The Information has a big mission: to build the Financial Times and Wall Street Journal of the...

Square and Twitter CEO Jack Dorsey. Photo by Bloomberg.

Jack Dorsey is Squarely in Control

By Martin Peers · Oct 14, 2015 3:20pm PDT

Square and Twitter CEO Jack Dorsey. Photo by Bloomberg.

Jack Dorsey is Squarely in Control

By Martin Peers · Oct 14, 2015 3:20pm PDT

With his second startup, Square, Jack Dorsey appears to have learned an important lesson from his Twitter experience: It's vital to retain effective voting control.Mr. Dorsey has 24.4% of Square’s voting shares, the company disclosed in its initial public offering securities filing on Wednesday. That doesn’t sound like a lot,... With his second startup, Square, Jack Dorsey appears to have learned an important lesson from his...

Chamath Palihapitiya, left, Ali Rowghani, center and Lauren Gross, right. Photo by Erin Beach.

Subscriber Summit

The Rise of the Quasi-VC Firm (Full Subscriber Summit Interview)

By Jessica E. Lessin · Oct 14, 2015 10:12am PDT

Startups lack discipline, late-stage investors can be a double-edged sword and a new breed of VCs are pursuing very different corporate structures. Those were some of the takeaways from our fiery panel with three non-traditional venture capitalists: Founders Fund Chief Operating Officer Lauren Gross, Social Capital founder Chamath... Startups lack discipline, late-stage investors can be a double-edged sword and a new breed of VCs...

Mattermark CEO Danielle Morrill. Photo by Erin Beach.

Subscriber Summit

Watch Mattermark’s Danielle Morrill Share Data on Private Tech (Video)

By Jessica E. Lessin · Oct 14, 2015 10:09am PDT

At our Subscriber Summit, Mattermark CEO Danielle Morrill presented some revealing data about the private tech markets, including numbers on the drop off in seed funding and the amount of capital looking for follow-on rounds. You can read about the findings here and see the full presentation in the video below. At our Subscriber Summit, Mattermark CEO Danielle Morrill presented some revealing data about the...

Nate Blecharczyk, left, Parker Conrad, center and Amir Efrati, right. Photo by Erin Beach.

Subscriber Summit

Full Interview with Zenefit’s Parker Conrad and Airbnb’s Nate Blecharczyk (Video)

By Jessica E. Lessin · Oct 14, 2015 10:09am PDT

On the heels of big funding rounds, Zenefits's Parker Conrad and Airbnb's Nate Blecharczyk discuss their strategies for the war chests they've raised, among other topics, with The Information's Amir Efrati. Check out the video below. On the heels of big funding rounds, Zenefits's Parker Conrad and Airbnb's Nate...

TPG's Jim Coulter. Photo by Erin Beach.

Watch Our Full Interview with TPG CEO Jim Coulter (Video)

By Jessica E. Lessin · Oct 14, 2015 10:08am PDT

TPG's Jim Coulter. Photo by Erin Beach.

Subscriber Summit

Watch Our Full Interview with TPG CEO Jim Coulter (Video)

By Jessica E. Lessin · Oct 14, 2015 10:08am PDT

In a wide-ranging interview, TPG CEO Jim Coulter discusses what differentiates tech deals TPG will and won't do, Silicon Valley's branding problem and what Airbnb, Uber and others have in common with Ford and General Motors. Check out the video below. In a wide-ranging interview, TPG CEO Jim Coulter discusses what differentiates tech deals TPG...

Blu Products CEO Samuel Ohev-Zion. Photo courtesy of Blu.

Is This the Future of Android?

By Amir Efrati · Oct 13, 2015 6:09pm PDT · 5 comments

The rapidly changing smartphone market is playing right into the hands of people like Sammy Ohev-Zion, CEO of Blu Products.The six-year-old smartphone brand, which is based in Miami and stands for “Bold Like Us,” next month will sell a $129 model that basically has the same components as Motorola’s best-selling phone, the Moto... The rapidly changing smartphone market is playing right into the hands of people like Sammy...

Salesforce.com Chief Operating Officer George Hu. Photo by Jakub Mosur.

Salesforce Exec to Launch HR Startup

By Steve Nellis · Oct 13, 2015 12:11pm PDT

George Hu, the chief operating officer of Salesforce.com, is planning to launch a human resources startup by year’s end, according to a person briefed on the product.The company appears to be Peer.com, an anonymous peer-feedback service, according to a person familiar with the matter and company documents. David Schellhase, the former... George Hu, the chief operating officer of Salesforce.com, is planning to launch a human resources...

Source: SEC Filings

A Rare Look at Small Investor Deals in Private Tech

By Alfred Lee and Peter Schulz · Oct 13, 2015 7:06am PDT · 2 comments

For all the growth of mutual funds and other public-market investors in private tech, one class of investors finds it hard to get access to the market: ordinary individuals. That’s thanks to steps private companies have taken in recent years to clamp down on trading in the secondary market for their stock, frequently bringing in... For all the growth of mutual funds and other public-market investors in private tech, one class...

Michael Dell. Photo by Bloomberg.

With EMC Deal, Dell Aims to Compete with AWS

By Steve Nellis · Oct 12, 2015 2:26pm PDT

Michael Dell. Photo by Bloomberg.

With EMC Deal, Dell Aims to Compete with AWS

By Steve Nellis · Oct 12, 2015 2:26pm PDT

Michael Dell is taking on the public cloud.His company's $67 billion offer to buy EMC, disclosed Monday, has a lot of moving parts. But the thrust is simple. He wants to slow the trend of big companies defecting en masse to public cloud providers—which mostly means Amazon Web Services—instead of building private clouds in their... Michael Dell is taking on the public cloud.His company's $67 billion offer to buy EMC,...