Alibaba Group Replaces CEO and Chair Daniel Zhang
The leadership change comes at a time when the Chinese e-commerce giant is going through the biggest overhaul in its 24-year history.
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Twitter Tells Investors It Will Focus on Video, Payments
Twitter's CEO, Linda Yaccarino, told investors that ad spending in some categories was up 40% year-over-year, although Twitter's overall ad revenue is reportedly down by the same amount.
Tiger Global Fundraising 55% Short of Goal
The shortfall comes as the frozen IPO market weighs on startup valuations.
SVB’s Investment Bank Has Deal to be Sold to Its CEO, Jeff Leerink
SVB Securities will go back to being Leerink Partners, the name the investment bank had before SVB bought it in 2019.
Crypto Payments Firm Wyre is Shutting Down
Wyre was left scrambling after a planned acquisition by payments company Bolt fell through.
Binance Under Investigation in France
The investigation is the latest headache for Binance, which was sued by the U.S. SEC last week for violating securities laws.
Amazon’s iRobot Acquisition Cleared by U.K. Regulator
The deal still faces hurdles in the U.S. and European Union, and iRobot shares were still trading roughly 18% below Amazon’s proposed acquisition price.
Vice Media in Talks to Sell to Media Firm GoDigital at Bankruptcy Auction
GoDigital, a little-known digital media firm based in Los Angeles, is weighing a bid for Vice Media at a bankruptcy auction next week.
Revolut Investor Cuts Firm’s Valuation by 40%
Molten Ventures is the third Revolut investor to mark down its stake in the UK based fintech this year.
Longtime NEA General Partner to Depart
Pete Sonsini, a general partner at NEA for almost 20 years, is leaving the firm.
U.S. Regulators Examine Goldman’s Role in Leadup to SVB Collapse
SEC, Fed, Justice Department are looking into Goldman's involvement in SVB's final days.
Disney CFO Christine McCarthy Steps Down
McCarthy will be replaced by Disney veteran Keith Lansberry on an interim basis as the company searches for a full-time successor.
Amazon to Let More Prime Sellers Fulfill Orders Themselves
The move could help convince larger and direct-to-consumer brands with their own fulfillment infrastructure to start selling on Amazon.
EU Seeks Breakup of Google’s Adtech Business
The European Commission alleges that Google illegally abused its dominance in digital advertising.
Music Publishers Sue Twitter for Copyright Infringement
Unlike other social media companies, Twitter has no agreement in place to license copyrighted songs.
Databricks Sales Topped $1 Billion Last Year
Ali Ghodsi, Databricks' CEO, said the company wasn't in a hurry to go public as it invests in new products that it can sell to companies working on AI.
Walmart+ Leader Departs as Competition With Amazon Prime Heats Up
Chris Cracchiolo, an American Express veteran, led the program for two years.
Silicon Valley Law Firm Orrick Lays Off 90, Delays Start Dates
Move is the latest in a wave of cuts and delays for Silicon Valley-based law firms.
Stitch Fix Taps Macy’s and Walmart Vet As New CEO
Matt Baer will be tasked with turning around the struggling online styling service.
Cloudera’s CEO Says He Will Leave
In a town hall meeting, Rob Bearden didn't say who will replace him as CEO of the data management software maker.
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.
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