The Federal Trade Commission on Wednesday filed a lawsuit to block Meta Platforms’ $400 million-plus acquisition of the maker of Supernatural, a key virtual reality fitness app for Meta’s Oculus Quest VR headsets. The agency, which is separately suing Meta to try to unwind its prior acquisitions of Instagram and WhatsApp, said Meta’s deal for the app maker, called Within, was an illegal attempt...
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How Instagram’s TikTok Envy Finally Backfired
Last month, Kim Kardashian, Kylie Jenner and other influencers stirred up a public relations firestorm for Instagram, complaining to their hundreds of millions of followers about the app's recent attempts to mimic TikTok. Those efforts were just part of a broader internal effort to take on the Chinese short-form video app, though. The Information has learned that recent tests of changes to...
China’s Economy Slows Amid Soaring Youth Unemployment
China’s Tech Giants Alibaba and ByteDance Share Algorithms With Government
Peloton Announces Job Cuts, Store Closures and Price Hikes
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When Meta Platforms reported its first-ever quarterly revenue decline last month, the Facebook parent company also made a key promotion with little fanfare: 36-year-old finance executive Susan Li would become chief financial officer in the fall, replacing longtime CFO Dave Wehner, who held the role for eight years and would transition to a strategy role.