Stripe Cuts Internal Valuation by Nearly 30%
Stripe told employees last week that the value of their shares had declined from $40 to $29.
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Recent Editions
OpenSea Lays Off Roughly 20% of Staff
OpenSea joins Coinbase, Gemini and Crypto.com in announcing layoffs in recent weeks as crypto and NFT trading volume has fallen.
Troubled Crypto Lender Celsius Network Files for Bankruptcy
Among the creditors listed in Celsius bankruptcy filings are Pharos USD Fund, ICB Solutions, and Alameda Research.
Taiwan May Review Foxconn’s Investment In Chinese Chipmaker
Apple supplier Foxconn's plans to invest in struggling Chinese chip giant Tsinghua Unigroup would require approval by Taiwan's government.
Tesla Loses Head of Artificial Intelligence Amid High-Level Departures
AI head Andrej Karpathy and energy engineering lead Chris Rollins have stepped down.
Microsoft Wins Deal to Sell Ads for New Netflix Streaming Plan
Netflix named Microsoft as its advertising partner for its new lower-priced streaming service.
Microsoft Shakes up Azure Internet of Things Unit
Microsoft's Azure Internet of Things unit, which includes software for managing and analyzing data from internet-connected devices, has a new leader.
Unity to Buy Ad Tech Firm ironSource in $4.4 Billion Deal
The gaming giant is snapping up the app monetization company for 60% less than its SPAC deal listing price last year.
Alibaba’s Supermarket Unit Seeks $6 Billion Valuation in Fundraising
Alibaba's Hema unit, which was seeking a $10 billion valuation earlier, has lowered its target after China's Covid lockdown and a global stock rout.
Apple, Jony Ive End Consulting Arrangement
Ive, the iconic designer who left Apple in 2019, continued to work with the company as a consultant over the past three years.
Google Says It Will Slow Hiring for Rest of Year
Google joins other major tech companies in deciding to slow or freeze hiring ahead of an expected recession.
Crypto-Focused Multicoin Capital Announces $430 Million Fund
Multicoin joins a number of venture firms that have announced crypto-focused funds this year.
Startup Hugging Face Launches New AI Language Model
AI startup aims to establish an alternative to proprietary language models from companies like OpenAI and Google.
Twitter Sues Musk to Stop Him From Bailing On $44 Billion Deal
Twitter filed a lawsuit against the Tesla CEO to force him to honor his acquisition bid for the company.
BNPL Firm Zip Scraps Acquisition of Rival Sezzle
The terminated deal is the latest example that the once hot buy now, pay later sector is struggling amid rising interest rates and slower consumer demand.
ByteDance Prepares to Launch New Social Media App in China
ByteDance's new Chinese app could compete with Xiaohongshu, a popular Instagram-like photo-sharing and e-commerce platform.
Virtual Events Startup Hopin Cuts 29% of Staff
This is its second round of layoffs in 2022, following a 12% cut in February.
Meta Exec To Managers: ‘Exit’ People Who Can’t Get on Track
The Workplace post comes as the company takes a more aggressive approach to employee performance and hiring.
China’s Regulator Slaps Alibaba, Tencent With Fines Related to Past Deals
While the fines are tiny, the antitrust watchdog's continued scrutiny of tech giants shows how Beijing's regulatory pressure on the sector hasn't disappeared.
Chinese VC Firm Qiming Announces Closing of $2.5 Billion Fundraising
The wide gap between the haves and the have-nots among Western-backed Chinese VC firms is getting even wider.
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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