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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TikTok CEO Goes to Washington With a Disparate Band of Allies
TikTok is one of the most popular entertainment services in the U.S., used monthly by nearly half of the population. Yet as the app battles for its life, it has remarkably few allies to provide support. Even those that directly benefit from TikTok, such as music labels and creators, have mixed feelings about TikTok, largely because they say it doesn’t pay its partners enough. That’s...
Virgin Orbit Nears $200 Million Funding Deal
Amazon Tests Palm-Scanning Technology at Panera Bread
Toyota Phases Out Amazon Alexa in Vehicles, Explores ChatGPT
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