Nike on Monday announced it has agreed to buy Andreesen Horowitz-backed RTFKT (pronounced artifact), which creates and sells virtual goods, most prominently sneakers, for an undisclosed sum. The deal comes as the storied sneaker seller continues to ramp up its online business, which accounted for 20% of overall sales at the end of fiscal 2021 ending in May, up from about 15% the year prior....
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Instacart Cuts Staff, Curbs Hiring in Run-up to IPO
Instacart has been letting go of staff, slowing hiring and curbing other expenses as it heads toward a public listing, when the grocery-delivery company will try to convince public investors that it can maintain its growth—and make a profit—as the economy slows. The San Francisco startup over the last two months has fired some of its more than 3,000 workers after holding midyear...
Twitch’s Creators Chief Departs Amid Payout Cutbacks
Amazon Informs Employees It Miscalculated Raises
Google CEO Addresses Employee Questions about Cost-Cutting
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