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Mobile Gaming Company Skillz to Go Public Via SPAC Merger

Competitive online gaming website Skillz announced Wednesday that it will go public by merging with blank check firm Flying Eagle Acquisition Corp. San Francisco-based Skillz lets multiple players compete in video games on Apple and Android phones. The $3.5 billion deal is the latest in a wave of special purpose acquisition companies, or SPAC mergers, in which cash-rich shell companies bring...

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Revenue Soars at Alphabet’s Verily as It Inches Toward Independence
Illustration via Shutterstock.
Verily, an Alphabet unit applying data analytics to healthcare, continues to post heavy losses but may be moving closer to gaining independence from Google’s parent company, according to previously undisclosed financial information. Revenue at Verily more than doubled in the first nine months of last year to $470 million from $228 million in the same period of 2021, making it by far the...
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TikTok Meets Republican Lawmaker to Discuss Data Security Plans
Coatue General Partner David Cahn Departs for Sequoia Capital
Tiger Global Reportedly Lowers Fundraising Target
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Meta Declares ‘Year of Efficiency’ as Revenue Stagnates
We’re in the middle of Chinese New Year celebrations at the start of the Year of the Rabbit. At Meta Platforms, though, it’s the “year of efficiency,” as CEO Mark Zuckerberg declared Wednesday on announcing fourth-quarter results.
Cameo co-founders Steven Galanis, Devon Townsend, Martin Blencowe, from left to right. Photo by Michael Kovac/Getty Images
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Cameo and Rally Shutter NFT Products, #Paid Conducts Layoffs
I’m kicking off today’s newsletter with some news: Creator services from Rally to Cameo are ditching crypto features that generated lots of buzz during the pandemic.
Stripe CEO Patrick Collison. Photo by Bloomberg.
Crypto Global crypto
Stripe’s Ill-Timed Crypto Re-Entry; SBF Needs to Stay Off Signal
My colleagues have been busy covering the latest at payments giant Stripe , which is in talks with existing investors that include Joshua Kushner ’s Thrive Capital to raise $3 billion.
Photo by Bloomberg.
e-commerce amazon
Amazon’s No-Fly Zone: Drone Delivery Largely Grounded Despite Splashy Launch
Amazon in December announced with great fanfare that, after nearly a decade of work, it had finally launched drone delivery in the U.S., in two towns in California and Texas.
Exclusive entertainment
Netflix Tells Advertisers Sign-Ups to Ad Tier Doubled in January
Netflix is making progress in its plunge into advertising—slowly. The streaming firm told advertisers in the past 10 days that new sign-ups for the tier with ads had doubled in January over December, a sign that low-cost offering was catching on with subscribers, ad executives say.
Photos via Adept Labs, Edmund Hillary Fellowship, Gantry ML, KIT Gründerschmiede, Sci Founders, Shutterstock, Stanford University, University of Central Florida, UC Irvine, UC Berkeley and YouTube.
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OpenAI Is Making Headlines. It’s Also Seeding Talent Across Silicon Valley
OpenAI has just 375 full-time employees, but its buzzy chatbot, ChatGPT, is shaking up Silicon Valley.