Design App Canva Valued at $25.5 Billion in Secondary Market
The $25.5 billion valuation is about 36% lower than the $40 billion valuation in Canva's most recent equity funding round in 2021.
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Recent Editions
Musk’s Neuralink Raises $280 Million
The brain computer interface startup is working on technology to help restore sight and mobility.
Paramount’s Streaming Revenues Up 40% as TV Business Continues Decline
Paramount+ added 700,000 subscribers in the second quarter. TV advertising revenues, however, dropped 10% year over year for Paramount Global.
PayPal Launches Stablecoin
The stablecoin will be issued by the crypto payments company Paxos, which previously was under regulatory scrutiny for its ties to Binance.
Quora, Rho, Nuro Signal Wave of Down Rounds
A handful of startups have made moves to raise money at slashed valuations, a sign that private startups are starting to catch up to the correction in public stocks.
SoftBank Sues Messaging App IRL, Alleging Falsified Data
It's the latest case of an investor taking the rare move of suing a startup it backed.
Musk Offers to Pay Legal Bills for Users Who Face Workplace Retaliation
Musk has successfully won suits brought over his Twitter activity and sued his opponents.
Twitch Streamer Charged After Give-Away Event Turns Chaotic
Kai Cenat had told fans on a live stream he would be giving away computers and game consoles.
Virtual Events Startup Run the World Sells to EventMobi
Run The World, a virtual events startup that competed with Hopin, plans to sell to EventMobi, an event management software company.
Coinbase Moves to Dismiss SEC Lawsuit
The SEC has alleged that Coinbase operates as an unregistered securities exchange, broker and clearinghouse.
Revolut to Halt U.S. Crypto Services Due to Regulatory Climate
The decision only affects 1% of the company’s crypto customers and crypto services will still be available to users outside of the U.S.
Cash App Drives Block Revenue Growth
Block benefited from increasing adoption of its Cash App debit card and quick deposit service.
Fintech VC Firm Ribbit Capital Raises $800 Million Fund
Ribbit Capital, the Silicon Valley venture capital firm behind Brex and the Robinhood, has raised $800 million for its tenth fund.
Discord Lays Off 4% of Workforce
The cuts were concentrated within the company’s marketing, talent and public policy teams.
Coinbase Narrows Loss After Cost Cutting
Trading revenue at the crypto exchange fell by half, but interest income increased.
Apple Sales Fall While Profit Rises on Services Shift
The company’s services business has profit margins double that from its hardware products.
Amazon Operating Income Jumps
Amazon managed to keep costs under control in its retail and subscriptions businesses in North America.
Cloud Startup CoreWeave Raises $2.3 Billion in Debt
The company aims to compete with larger cloud providers, such as Amazon Web Services.
Meta’s Ray-Ban Glasses Fall Flat With Customers
Internal data reportedly shows that less than 10% of purchased devices are actively used.
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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