ByteDance founder Zhang Yiming said he was stepping down from his role as CEO of one of China’s biggest internet giants, best known in the West as the owner of the global hit app TikTok. Zhang said he would step back from day-to-day management to focus on the company’s longer term initiatives and social responsibility. Over the next six months, he will hand over the company’s reigns to...
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The Briefing Autonomous Vehicles Startups
Way Mo’ Cash for High-Tech Cars
Alphabet’s self-driving car subsidiary Waymo on Wednesday said it raised $2.5 billion from investors, with an asterisk: Alphabet was the lead investor in the round, according to a person familiar with the deal. In Silicon Valley, the lead designation usually belongs to the party that contributed half of the total amount in the round. So either Alphabet CFO Ruth Porat wanted to make sure...
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