Roblox’s revenue in the first quarter increased 39% to $537.1 million over the previous year and its user count continues to grow, but the company saw bookings—equal to the amount spent on purchases of Roblox’s digital currency—fall by 3%. Shares in the gaming and metaverse platform creator dropped by about 5% in after-hours trading. Roblox’s losses for the quarter were $160.2 million,...
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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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