Judge Puts Trial on Hold for Twitter and Musk
Twitter and Musk have until October 28 to close the deal or face trial in November.
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Arctic Wolf Raises $401 Million in Convertible Debt
Investors have peppered startups with convertible debt pitches in recent months
TikTok Unveils Photo Feature as Instagram Rivalry Heats Up
TikTok’s photo mode expands into the turf dominated by Meta Platforms-owned Instagram
Splunk Sues Startup Cribl, Accuses Former Manager of Stealing Code
Splunk has had a rocky year with shares down more than 30%, and now it has a legal battle brewing with one of its former senior product managers.
Spotify to Cut Podcast Staff, Cancel 10 Gimlet and Parcast Shows
Spotify is cutting 5% of its in-house podcasting staff and canceling 10 original podcasts produced by its studios Gimlet and Parcast.
Musk’s Lawyers Say Deal Could Close on October 28 if Trial is Cancelled
Lawyers for Musk’s banks say banks are willing to fund the deal, according to a Musk filing with the Delaware court.
Tiger Global Targets $6 Billion as Key Partner Departs
Tiger Global Management plans to raise $6 billion for its fifteenth fund focused on private technology companies.
TikTok Parent ByteDance’s Losses Tripled Amid Growth Push
ByteDance’s revenue soared almost 80% to $61.7 billion in 2021, while operating losses more than tripled last year.
Peloton Cuts Another 500 Jobs
CEO Barry McCarthy says Peloton needs to show within six months that growth initiatives are working.
Former Huawei Executive Builds Fab That Could Skirt U.S. Sanctions
Pengxinwei IC Manufacturing is building a semiconductor manufacturing plant near Huawei’s headquarters and is purchasing foreign chip-making equipment.
Former Uber Security Chief Found Guilty of Covering Up Hack
Joe Sullivan’s case was unusual because security executives have rarely faced charges for their roles in hacks
Twitter Trial Still On, For Now, Judge Says
The judge's comments inject a new note of uncertainty into the Twitter-Musk situation.
Instagram Tests New Types of Shopping Ads
The new ads are the latest evolution in efforts by Instagram's parent, Meta Platforms, to build a commerce business.
Micron to Invest Up to $100 Billion on Chip Factory in New York State
The U.S. memory chip maker's announcement comes after Washington passed a bipartisan bill that provides funding to beef up domestic chip production.
Sarah Guo Launches $101 Million Fund Focused on AI
The fund is the first at her new venture firm, Conviction, where she is the sole general partner.
Amazon Freezes Corporate Hiring in Retail and Operations Businesses
Amazon is freezing corporate hiring across its sprawling Amazon stores business
Elon Musk Offers to Complete Twitter Deal On Original Terms
Musk offered Twitter $54.20 per share in a late night letter.
Facebook To Shut Down Bulletin Newsletter Platform
Facebook is shutting down its newsletter service Bulletin by early 2023.
U.S. Could Announce New Curbs on AI Exports to China This Week
The New York Times said that some Chinese firms and government research labs would be added to a new list of entities facing U.S. government restrictions like the ones that hobbled telecom manufacturer Huawei.
South Korea’s Naver to Buy Poshmark for $1.2 Billion
The deal is a huge discount on where Poshmark went public last year, reflecting how the ecommerce business's bottom line has been battered by rising marketing costs.
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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