In Upcoming IPO, Reddit Considers $5 Billion Valuation Target
At that level, Reddit would be valued at about the same multiple of this year's expected revenue as Snap, and slightly below Pinterest.
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Flexport to Lay Off Nearly 20% of Employees
The layoffs would be Flexport’s third major round of cuts in just over a year.
Lightspeed Mulls Selling $1 Billion in Startup Stakes
The firm is setting up a continuation fund to hold assets from funds nearing maturity.
Salesforce to Cut 700 Jobs: Report
The cuts follow a wave of layoffs at other big tech companies this month.
Elon Musk’s xAI In Talks to Raise $6 Billion
xAI previously disclosed a $1 billion fundraising round.
Bret Taylor’s AI Startup Said to Near $1 Billion Valuation
The funding comes six months after an initial Benchmark-led round.
Apple Makes it Easier for Streaming Game Services to be on App Store
Developers can submit one app that offers a catalog of games, opening a door for Microsoft and Nvidia that could allay antirust concerns.
Apple Reduces Commissions in Europe for App Developers
The new business terms, which take effect in March, are part of sweeping changes Apple is making in the wake of a new European law.
JPMorgan Shakes Up Executive Ranks
JPMorgan Chase announced a leadership shake-up that sets the stage for an eventual successor to long-time chief executive Jamie Dimon.
FTC Starts Inquiry of AI Deals Involving Microsoft, OpenAI, Google, Amazon, Anthropic
The agency said it is looking at whether the deals hurt competition in AI.
BuzzFeed and Vice Media Look to Sell Off More Websites
BuzzFeed is putting its food sites Tasty and First We Feast up for sale, while Vice Media is looking to find a buyer for female lifestyle publisher Refinery29.
Tesla Shares Fall 10% as Vague Outlook Disappoint Wall Street
Tesla frustrated analysts with its tepid, but unspecific 2024 outlook.
Microsoft Lays Off 1,900 Employees in Xbox, Activision
The job cuts come just three months after Microsoft closed its $69 billion acquisition of Activision.
Apple to Still Review, Charge Fees For Sideloaded Apps in Europe
The news comes as Apple prepares to comply with a new European law that requires so-called tech gatekeepers to ensure equal access to their operating systems.
Apple Becomes China’s Top Smartphone Vendor for First Time
Apple and its competitors continue to face challenges in China due to the country's sluggish economy and weak consumer sentiment.
David Ellison Reportedly Makes Offer for Paramount Owner National Amusements
Ellison would also look to merge his movie and TV studio, Skydance, with Paramount Global after taking control of its parent company.
EBay Cuts 9% of Staff as E-Commerce Layoffs Mount
Other sites like Wayfair and Etsy have also cut jobs recently.
Tesla Reports Modest Revenue Growth Amid Shrinking Margins
Tesla reported its Q4 2023 earnings on Wednesday.
G/O Media Reportedly Looks to Sell The Onion, Other Websites
G/O Media, which owns websites including The Onion, Deadspin and Gizmodo, is looking to sell off the titles amid an industry-wide downturn for digital media.
Klarna Launches Subscription Service
Users can pay $7.99 per month to skip fees on some purchases and get extra discounts.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
By providing your email, you agree to The Information’s Privacy Policy