Tencent is seeking to merge Chinese game streaming sites Huya and Douyu, Bloomberg reported. The Chinese social media and gaming giant owns large minority stakes in both companies and is the world’s largest video game publisher, with investments in many of the world’s biggest video game studios. Combining game streaming platforms Huya and DouYu could create a $10 billion company and 300 million...
Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
The Briefing markets enterprise
How Activists Proved to be Salesforce’s ‘Superpower’
These corporate efficiency initiatives really work! Salesforce’s April-quarter earnings report Wednesday showed an operating profit of $412 million, a 5% margin, compared with $20 million a year earlier, which equated to a margin of 0.27%. The reason was lower expenses—research and development costs fell 8.4% while marketing expenses dropped 6.5%—even as revenue rose 11%. Cutting costs to lift...
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Recent Popular Stories
How Microsoft Swallowed Its Pride to Make a Massive Bet on OpenAI
Satya Nadella didn’t want to hear it. Last December, Peter Lee, who oversees Microsoft’s sprawling research efforts, was briefing Nadella, Microsoft’s CEO, and his deputies about a series of tests Microsoft had conducted of GPT-4, the then-unreleased new artificial intelligence large-language model built by OpenAI.
Exclusive startups crypto
MoonPay CEO, Other Executives Cashed Out Before Crypto Business Dropped
In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.