Opendoor Lost Money as Real Estate Market Turned, Report Says
As inflation and increased interest rates cooled home-buying activity, Opendoor was left on the hook.
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Recent Editions
Uber Suspects Well-Known Hacking Group Caused Recent Breach
The Lapsus$ hacking group has previously used social engineering techniques to carry out attacks on Microsoft and Okta, and Uber may be its latest victim.
PillPack Founders to Leave Amazon
Amazon purchased the Boston-based online pharmacy company in 2018 for around $750 million as one of its first major moves into the health care industry.
Instacart Plans to Use IPO to Sell Employee Equity
In a bid to attract and keep talent, Instacart will mostly list employee shares
Co-Founder of Terraform Labs Says He’s Not on the Run
South Korea prosecutors accuse Do Kwon of being on the run after they issued an arrest warrant for him.
Singapore’s Sea Plans Layoff in E-Commerce Unit
Sea, whose main businesses are videogames and e-commerce, has been grappling with slowing demand after an earlier pandemic-fuelled boost.
Shopify Overhauls Pay to Let Workers Pick Cash-Equity Split
Shopify has also removed the one-year waiting period before employees begin receiving their equity awards.
FTX Top Bidder for Assets of Bankrupt Crypto Lender Voyager
FTX and Sam Bankman-Fried have been bailing out struggling crypto companies, and are now trying to snap up assets in Voyager’s bankruptcy auction.
Online Fashion Giant Shein Plans to Beef Up U.S. Distribution Network
The move, which could reduce shipping times for American shoppers, is part of Shein's effort to boost its U.S. sales.
ByteDance to Spend $3 Billion to Buy Back Investors’ Shares
The plan would value the owner of TikTok at $300 billion amid stalled plans for an initial public offering.
Uber Investigates Hack
A hacker accessed key Uber systems after compromising a worker’s Slack account and sharing details of the hack with media and cybersecurity experts.
Rumble Set to Go Public in SPAC Merger
Deal marks a rare debut as companies delay SPAC deals
Ethereum Migrates to Proof of Stake, Completing Highly Anticipated Merge
Markets remained relatively stable on Thursday, despite many traders having prepared for significant volatility
TikTok Launches BeReal Copycat
TikTok launched a new feature called TikTok Now, similar to the popular app BeReal where users are notified once a day to post.
Adobe Buying Design Software Maker Figma for $20 Billion
The deal is a big payday for shareholders in Figma, which was valued at $10 billion when it raised money last year.
Masayoshi Son Mulls Launching a Third Vision Fund Despite Big Losses
The billionaire SoftBank founder is considering starting a third fund using its own cash.
South Korea Issues Arrest Warrant for Co-Founder of Terraform Labs
In an earlier interview with the broadcast series Coinage, co-founder Do Kwon said he also was a victim given the losses he incurred.
California Files Antitrust Complaint Against Amazon
It's nearly identical to a case filed by Washington DC's attorney general, which was dismissed earlier this year.
Twilio Lays off 11% in Push for Profitability
Twilio has grown rapidly in recent years as usage of its core voice and messaging products has surged, but now it wants to boost sales of its other offerings.
Tencent Music Plans Hong Kong Stock Market Debut as Soon as Next Week
An increasing number of U.S.-listed Chinese tech companies have completed dual listings in Hong Kong amid political tensions between the U.S. and China.
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.
By providing your email, you agree to The Information’s Privacy Policy