X Valued at $19 Billion, Company Tells Employees
The company’s internal valuation, which represents a 55% discount from Musk’s purchase price, is still higher than how others have valued the company.
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Shein Acquires U.K. Fast Fashion Brand Missguided
The fast-fashion giant struck a similar partnership with Forever 21 in August.
Meta To Offer Ad-Free Subscriptions for Facebook, Instagram in EU
The changes were made in response to new European regulations
Posts Corrected by ‘Community Notes’ Ineligible for Creator Monetization, Musk Says
X’s ad revenue sharing model had been criticized by misinformation researchers for creating a financial incentive for posting inflammatory and often misleading content.
X Introduces $16 “Premium+” Subscription Tier
The company, whose revenue is primarily driven by ads, now offers a dizzying array of subscriptions.
Google to Commit $2 Billion to Anthropic
Stronger ties to Anthropic would bolster Google’s business with AI startups, which have emerged as a voracious user of cloud computing.
Google in 2021 Paid $26.3 Billion for Search Deals with Apple, Others
Google’s payments represented roughly 58% of Google’s total “traffic acquisition costs” in 2021.
Flexport In Talks To Buy Collapsed Freight Broker Convoy’s Technology
Flexport wouldn't acquire all of Convoy's business, or physical assets like trailers or real estate
Jamie Dimon to Sell $141 Million in JPMorgan Shares
CEO plans to sell 1 million shares through a trading plan
Tencent-Backed Logistics Giant’s Stock Market Debut Fails to Impress
The IPO of J&T Global Express is one of the biggest this year in Hong Kong, where listing volumes have plunged amid weak investor sentiment.
Bankman-Fried Struggles in Testimony Without Jury
Sam Bankman-Fried struggled to answer direct questions while under cross-examination in his criminal trial on Thursday, often giving long and convoluted responses to questions.
Amazon’s Ad Growth Driven Mostly by Search, Not Video
Ads at the “top of the funnel”—those that build broad awareness of a brand, such as television commercials—had been “slowing down this year," Amazon's CFO said.
Amazon Has So-So Quarter But Advertising Shines
Amazon's ad business grew 26% in the quarter, the fastest it has expanded in a year, while AWS' growth rate was 12%, in line with the second quarter.
Microsoft Chief Marketing Officer Capossela Departs
Capossela worked at Microsoft for 32 years.
SoftBank Vision Fund Pulls Back From China as Two Partners Change Roles
SoftBank was previously one of the most important investors in the country.
NBCU’s Peacock Adds 4 Million Subscribers While Losses Fall Slightly
Peacock now has 28 million subscribers. It also lost $656 million on revenue of $830 million.
Intel Expands AI Software Business
The company plans to announce the initiative in the coming months.
Silver Lake Looks to Take Hollywood Talent Giant Endeavor Private
Silver Lake has a 71% of voting stake in Endeavor, which owns agencies WME and IMG and controls the company that runs UFC and WWE.
Morgan Stanley Chooses Ted Pick to Succeed James Gorman as CEO
Pick, who won a three-horse race to be the next CEO, will take over Jan. 1.
Live Shopping Startup Supergreat to Close; Whatnot Hires Staff
Whatnot, a live-shopping startup, is hiring most of the staff of Supergreat, a beauty-focused livestreaming and shopping app, which will shut down in December.
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The Information AM by The Information Staff
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