Snap doesn’t appear to be feeling business pain from the coronavirus pandemic, at least not yet. The maker of Snapchat reported 44% higher revenue for the first quarter, to $462 million, just above the midpoint of the company’s guidance. It also added 39 million daily users, a 20% jump, and trimmed its losses. The news sent its stock soaring roughly 20% in after-hours trading. Looking ahead, the...
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Twilio, Set to Lose Supervoting Protection Next Month, Has Been Meeting With Activist
Activist investor Legion Partners, which owns a stake in Twilio, has met several times with the company’s board of directors and management, urging them to make changes to the board and consider divestitures, among other moves, according to people familiar with the matter. The conversations come at a critical moment for the $11.5 billion communications software company. Its use of...
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How Microsoft Swallowed Its Pride to Make a Massive Bet on OpenAI
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