Shutterstock has agreed to buy GIF library Giphy from Meta Platforms for $53 million in net cash, the image provider said Tuesday, putting an end to a yearslong back and forth with U.K. regulators. Meta bought Giphy in May 2020 for $400 million, including $85 million in deferred stock. But the deal fell under scrutiny by the U.K.‘s Competition and Markets Authority. It ordered Meta to hold...
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Sequoia Capital’s U.S. Partners May Reap China Gains Even After Split
Sequoia Capital on Tuesday told investors that by the first quarter of next year it would fully separate its U.S. and China venture capital operations, ending an 18-year run during which Sequoia Capital China became China’s most successful VC firm and drove outsize returns for Sequoia’s global investors. But the separation, anticipated for years and related to a growing geopolitical...
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Adam D’Angelo’s Endless Quest to Answer Everything
Adam D’Angelo is basking in an “ endless summer ” of artificial intelligence. A few weeks before he and 350 industry peers released a bizarre, one-line statement warning that AI could herald a nuclear-level extinction event, the 38-year-old co-founder of Quora told me he actually sees more upside in AI than downside.