Compass, the real estate brokerage backed by SoftBank’s Vision Fund, slashed the projected size of its initial public offering, a sign that investor demand isn’t as strong as the company hoped. In its latest IPO filing, Compass cut the proposed pricing range to $18-19 a share, from $23-26 a share. It also reduced the number of shares it plans to sell to 25 million from 36 million. All up,...
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The Briefing Media/Telecom Apple
Apple’s Blissful Ignorance on App Store Profits
If Apple executive Phil Schiller is to be believed, Apple executives don’t know whether the App Store is profitable. That subject “doesn’t come up” in internal Apple discussions, Schiller testified today at the Epic-Apple trial. This is a business that by some estimates generates between $10 billion and $12 billion in annual profits for Apple—nearly 20% of its total profit—and executives don’t...
In Epic Trial, Apple’s Phil Schiller Says He has Limited Awareness of Apple’s Antitrust Problems
Amazon Extends Ban on Selling Facial Recognition to Police
Google I/O: Android Changes, AI Advances
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News Analysis Apple
Midway Through Apple-Epic Trial, Apple Maintains Its Advantage
App developers are rooting for Epic Games to win its court battle against Apple. Yet some prominent developers told The Information they have grown concerned that the ongoing antitrust trial between Apple and Epic could hurt their own efforts to take on Apple and redefine who controls the economics of consumer apps.