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

Photo by Flickr/Dennis Crowley.

Foursquare Lets Employees Swap Out Underwater Options

By Alfred Lee · Jan 19, 2016 1:57pm PST · 2 comments

In the wake of its recent down round, Foursquare will allow any employee to convert out-of-the-money stock options into restricted stock units, or RSUs, a spokeswoman said Tuesday.The move, which will go into effect over the next few weeks, ensures employees will have stock of some value. Unlike options, which convert to stock at a certain... In the wake of its recent down round, Foursquare will allow any employee to convert...

Foursquare co-founder Dennis Crowley. Photo by Bloomberg.

How Foursquare’s Investors Fared in Down Round

By Alfred Lee · Jan 19, 2016 10:18am PST · 1 comment

Foursquare announced new financing last week that reportedly cut the valuation of the company by roughly half. But a close reading of the company’s charter shows investors in certain rounds, such as series C, come out of the down round much worse off than those in series D.If Foursquare ends up getting sold at the latest valuation, Series... Foursquare announced new financing last week that reportedly cut the valuation of the company by...

Source: SEC Filings; The Information Research

The Real (Estate) Price of Tech Expansion

By Cory Weinberg and Peter Schulz · Jan 19, 2016 7:01am PST · 5 comments

San Francisco tech firms such as DocuSign and Stripe last year agreed to office rental prices more than 50% higher than what they were already paying, new data show. It’s a sign of how skyrocketing rental prices in the city are affecting startups as they expand into more space.Some tech companies were lucky enough to lock in lower prices... San Francisco tech firms such as DocuSign and Stripe last year agreed to office rental prices...

Art by Sam Lessin.

On Bots, Conversational Apps and Fin

By Sam Lessin · Jan 18, 2016 7:01am PST · 9 comments

Art by Sam Lessin.

Modest Proposals

On Bots, Conversational Apps and Fin

By Sam Lessin · Jan 18, 2016 7:01am PST · 9 comments

2016 is being declared the year of bots. And it feels like there is a broad shift in the developer ecosystem away from traditional point-and-click apps, towards chat-based user interfaces.It’s happening because there is broad consumer and developer fatigue with apps. Consumers don’t want to install or use new traditional apps.... 2016 is being declared the year of bots. And it feels like there is a broad shift in the...

A trader at the New York Stock Exchange on Friday. Photo by AP.

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Jan 16, 2016 8:00am PST

Good Morning! Over the past few days, watching the markets has been like watching a slow motion car crash. But, as they say, out of market upheaval comes opportunities. At least, for anyone looking to invest. Good Morning! Over the past few days, watching the markets has been like watching a slow...

The Information's 411

The Information’s 411 — Bad Week

By Tom Dotan · Jan 15, 2016 2:25pm PST

It was a bad week for the markets but an especially bad week for tech stocks like Twitter. Each new day seemed to bring a new low for the company’s stock. That kind of a collapse has rippled through the tech industry as investors and companies nervously eye private valuations. It was a story we covered earlier this week, and Reed joined to... It was a bad week for the markets but an especially bad week for tech stocks like Twitter. Each...

Uber at CES this month. Photo by Bloomberg.

Finding Growth in the Age of Uber

By Jessica E. Lessin · Jan 15, 2016 7:01am PST · 1 comment

During a dinner with tech investors this week, one leaned over and said to me: “It's been an UberX kind of day.”The markets had slid. And this investor was prepared to take some penny-pinching precautions. Black car Ubers would have to go. During a dinner with tech investors this week, one leaned over and said to me: “It's...

Mark Zuckerberg. Photo by Bloomberg.

Inside Facebook’s Campaign to Convince You It Cares

By Cory Weinberg and Amir Efrati · Jan 14, 2016 7:00am PST

Mark Zuckerberg. Photo by Bloomberg.

Inside Facebook’s Campaign to Convince You It Cares

By Cory Weinberg and Amir Efrati · Jan 14, 2016 7:00am PST

In a recent regularly scheduled question-and-answer session for employees, Facebook CEO Mark Zuckerberg was asked about the company’s efforts to measure whether Facebook users believe the company “cares” about them. In particular, an employee asked whether the measure could be distorted by recently introduced... In a recent regularly scheduled question-and-answer session for employees, Facebook CEO Mark...

An image from Obsev's video “Watch These Adorable Grandmas Try Fireball Whiskey for the First Time.” Photo by Obsev.

Watch Video Makers Try Buzzfeed-Like Clips

By Tom Dotan · Jan 13, 2016 9:47am PST · 3 comments

In late December, a video started making the rounds on Facebook titled “Watch These Adorable Grandmas Try Fireball Whiskey for the First Time.” The content was exactly as advertised, and its style felt familiar. But the creator was a nearly unknown firm.The video’s quick cuts of older women cautiously sipping the cinnamon... In late December, a video started making the rounds on Facebook titled “Watch These...

NetSuite CEO Zach Nelson. Photo by NetSuite.

The Big Interview

NetSuite’s Day in Spotlight is Coming

By Steve Nellis · Jan 12, 2016 8:02pm PST · 6 comments

NetSuite CEO Zach Nelson has an audacious argument to explain why his cloud software company is one-seventh the size of Salesforce in market capitalization—$6.7 billion to $48 billion—despite the two companies having launched around the same time in the late 1990s. In a nutshell, Salesforce took the easier route to building a cloud... NetSuite CEO Zach Nelson has an audacious argument to explain why his cloud software company is...

Be The Information’s Director of Engineering

By The Information Staff · Jan 12, 2016 2:45pm PST

About UsThe Information is a San Francisco-based business publication known for original, in-depth reporting about the technology industry. We’re the go-to daily read for the most important people in technology and business and are building a one-of-a kind community of subscribers. We have a sustainable business, plenty of capital and big... About UsThe Information is a San Francisco-based business publication known for original,...

Twitter's San Francisco headquarters. Photo by Bloomberg.

Twitter’s Slide Could Affect Private Tech Values

By Alfred Lee, Cory Weinberg and Reed Albergotti · Jan 12, 2016 12:47pm PST · 2 comments

Twitter's San Francisco headquarters. Photo by Bloomberg.

Twitter’s Slide Could Affect Private Tech Values

By Alfred Lee, Cory Weinberg and Reed Albergotti · Jan 12, 2016 12:47pm PST · 2 comments

Twitter shares continued their seemingly endless slide on Tuesday, amid a wildly volatile stock market that appears to be hitting particularly hard tech companies with weak growth prospects.While some tech stocks rose on Tuesday, such as Fitbit, others such as Etsy and Box continued a steady decline. Etsy, like Twitter, has been affected by... Twitter shares continued their seemingly endless slide on Tuesday, amid a wildly volatile stock...

This is our view!

Become a Data Storytelling Superstar at The Information

By The Information Staff · Jan 12, 2016 12:15pm PST

About UsThe Information, is a San Francisco-based business publication known for original, in-depth reporting about the technology industry. We’re the go-to daily read for the most important people in technology and business and are building a one-of-a kind community of subscribers. We have a sustainable business, plenty of capital and big... About UsThe Information, is a San Francisco-based business publication known for original,...

Ian Hecox and Anthony Padilla, the creators and stars of Smosh. Photo by Flickr/Gage Skidmore.

Defy Media Contemplating a Sale

By Tom Dotan and Martin Peers · Jan 12, 2016 5:00am PST

Online video firm Defy Media, a maker of comedic web videos mostly aimed at young men, is in discussions that could lead to either a capital raising or a sale, said a person close to the company.Any deal could give Defy, or any acquirer, much-needed extra scale with content and audiences, which is crucial for drawing advertising dollars. Even... Online video firm Defy Media, a maker of comedic web videos mostly aimed at young men, is in...

Uber CEO Travis Kalanick. Photo by Bloomberg.

Uber’s Losses Grow, But So Do Its Profit Projections

By Amir Efrati · Jan 11, 2016 5:13pm PST · 1 comment

Uber’s losses grew to nearly a billion dollars in the first half of last year, nearly 50% more than its full-year losses in 2014, according to confidential documents issued by the company as part of financing efforts last year. Net revenue in the first half of 2015 was $663 million, the documents showed. (Scroll down to see the documents.)... Uber’s losses grew to nearly a billion dollars in the first half of last year, nearly 50%...

Be The Information’s China Bureau Chief

By The Information Staff · Jan 11, 2016 7:36am PST · 2 comments

Be The Information’s China Bureau Chief

By The Information Staff · Jan 11, 2016 7:36am PST · 2 comments

About UsThe Information is a San Francisco-based business publication known for original, in-depth reporting about the technology industry. We’re the go-to daily read for the most important people in technology and business and are building a one-of-a kind online and offline community of subscribers.Job DescriptionOur China bureau chief... About UsThe Information is a San Francisco-based business publication known for original,...

Art by Matt Vascellaro.

Inside Uber’s Mission Impossible in China

By Amir Efrati · Jan 11, 2016 7:01am PST · 7 comments

When trying to explain why Uber probably won’t beat its main ride-sharing rival in China, it’s hard to know where to begin.UberChina’s Series B fundraising effort has been a long struggle, with many institutional investors in China frightened by UberChina’s losses as well as broader economic troubles in the country,... When trying to explain why Uber probably won’t beat its main ride-sharing rival in China,...

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Jan 9, 2016 8:01am PST

Good morning!Strap on your seat belts. We’re only one week into 2016 and it’s already clear things are going to be bumpy. This week saw the Chinese stock market selling off, followed by the rest of the world including the U.S. Some tech stocks were affected more than others: Twitter stock fell below $20 for the first time on Friday. Good morning!Strap on your seat belts. We’re only one week into 2016 and it’s already...

The Information's 411

The Information’s 411 — War Games

By Tom Dotan · Jan 8, 2016 1:19pm PST

In the first podcast of the year, Jessica dropped in to talk about her weekly column, which took a hard look at the problem of gender diversity in Silicon Valley. And it started from an interesting observation about The Information’s subscriber base.Then Reed explained our latest data-driven project, The Information’s Insider List,... In the first podcast of the year, Jessica dropped in to talk about her weekly column, which took...

The Information subscribers at a London event in November. Photo by David Yiu.

A Hard Truth about Women in Tech

By Jessica E. Lessin · Jan 8, 2016 7:00am PST · 3 comments

The Information subscribers at a London event in November. Photo by David Yiu.

A Hard Truth about Women in Tech

By Jessica E. Lessin · Jan 8, 2016 7:00am PST · 3 comments

A few weeks ago, our engineer Pete was walking our team through recent tests to acquire new subscribers via Twitter and Facebook ads. He noted that across our Facebook ads, our cost per acquisition for women was 40% higher than for men. A few weeks ago, our engineer Pete was walking our team through recent tests to acquire new...