Chime’s Slowdown Highlights Limits of Bank DisruptorsRead more

Briefing
uber/lyft

Uber Sells 50% Stake in Careem’s Super App to UAE Firm

By
Martin Peers
· · Source: The Information

Uber has sold a 50% stake in a newly created Super App unit of its Careem middle Eastern ride-sharing unit to e&, a United Arab Emirates-based tech investment group for $400 million. The new unit will take over Careem’s food and grocery delivery as well as fintech services, while Uber retains full ownership of the company’s ride-hailing business. In carving off the unit and giving control...

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
The Briefing ai crypto
Why AI Scientists Are Freaking Us Out
By Martin Peers · May 30, 2023 5:00 PM PDT
Sam Altman. Photo by Bloomberg.
Well that’s one way to get attention. According to a statement issued today by a bunch of leading names in AI, “mitigating the risk of extinction from AI should be a global priority.” Right. It’s hard to imagine anyone out there disagrees—who but the most extreme misanthrope wants to extinguish the human race? The question, then, is why the very people responsible for AI’s development are...
Latest Briefs
 
Scientists Warn of ‘Extinction’ From AI
By Jon Victor · May 30, 2023
Ex-Coinbase Product Manager, Brother Settle SEC Insider Trading Case
By Aidan Ryan · May 30, 2023
Elon Musk Talks Tesla at Diplomatic Meeting in Beijing 
By Becky Peterson · May 30, 2023
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Microsoft's Satya Nadella, left, and Peter Lee. Photo by Bloomberg, Microsoft
Exclusive
How Microsoft Swallowed Its Pride to Make a Massive Bet on OpenAI
By Aaron Holmes
Satya Nadella didn’t want to hear it. Last December, Peter Lee, who oversees Microsoft’s sprawling research efforts, was briefing Nadella, Microsoft’s CEO, and his deputies about a series of tests Microsoft had conducted of GPT-4, the then-unreleased new artificial intelligence large-language model built by OpenAI.
Art by Clark Miller
The AI Age e-commerce ai
How to Grease a Chatbot: E-Commerce Companies Seek a Backdoor Into AI Responses
By Chris Stokel-Walker
When Andy Wilson’s company received its first successful client referral through ChatGPT, he was shaken to his core.
Chris Britt, co-founder and CEO of Chime.
Exclusive startups Finance
Chime’s Slowdown Highlights Limits of Bank Disruptors
By Mark Matousek and Erin Woo
Chime found a way to offer zero-fee banking services without being a bank itself. But that approach is starting to show its limits.
Art by Clark Miller
The Big Read markets Finance
The Master of Destruction Rides Again
By Michelle Celarier
In the spring of 2022, the irascible Wall Street short seller Marc Cohodes was in a particularly foul mood.
Art by Mike Sullivan
startups asia
Venture Capitalists Face Pressure to Divest From China
By Kate Clark
Silicon Valley venture capitalists are coming to terms with a new reality: Their once-prized China investments may be victims of a simmering cold war.
Art by Clark Miller.
Exclusive startups crypto
MoonPay CEO, Other Executives Cashed Out Before Crypto Business Dropped
By Aidan Ryan
In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.