Peloton Announces Job Cuts, Store Closures and Price Hikes
The online fitness equipment sellers' downsizing follows a decline in business from heights during pandemic shutdowns.
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South Korea’s Mirae Asset Management Led $250 million SpaceX Investment
International investors join June funding
Founder of Crypto Exchange Houbi in Talks to Sell Stake for $1 Billion
Leon Li is looking to sell his stake in a deal that would value the exchange at $3 billion.
Samsung Heir Gets Presidential Pardon for Bribery Charges
The conglomerate’s leader Lee Jae-yong who was twice jailed for bribing the president, will be pardoned next week, a move that’s widely popular in South Korea.
Cloud Management Firm Nutanix Lays Off 4% of Staff
Nutanix, which competes with VMware in the market for data center and cloud management software, becomes the latest enterprise software firm to cut jobs.
Activist Investor Builds 7% Stake in New York Times, Urges Subscription Bundle Push
ValueAct Capital Management told investors in a Thursday letter that the outlet will flourish if it more aggressively rolls out its subscription bundle.
BlackRock Launches Bitcoin Trust for Big Clients
The launch comes a week after BlackRock partnered with Coinbase to offer clients using its Aladdin software access to Coinbase Prime
Warby Parker Slashes Revenue Guidance, Moves Forward With Brick-and-Mortar Expansion
The eyewear maker saw improved revenue growth but increased losses in the second quarter of the year.
China Investigates Executives at Big Semiconductor Investment Fund
China’s anti-graft watchdog is investigating three former officials connected to the National Integrated Circuit Industry Investment Fund, a state-backed fund for the semiconductor industry.
SoftBank Expects $34 Billion Gain From Sale of Alibaba Shares
The move comes as this year’s global stock market rout has dealt a severe blow to SoftBank's vast portfolio of public and private tech companies.
Cisco Confirms its Network Was Breached by Ransomware Hackers
Cisco says hackers used phishing techniques to break into an employee's personal Google account and gain access to its corporate network.
Former Meta Exec Joins Dapper Labs
Grudin joins a string of other veterans of Big Tech companies to join crypto-related startups.
Disney+ Adds 14.4 Million Subscribers, Announces Ad-Supported Tier
Disney’s streaming services beat analyst expectations for subscriber growth with heavy gains outside North America.
Meta Raises $10 Billion in Bond Market Debut
The Facebook parent’s first ever corporate bond offering will help the company fund share buybacks amid dimming financial prospects.
Microsoft Lays Off 200 People in Family-Focused App Business Amid Broader Belt-Tightening
Microsoft is laying off 200 people in its family-focused app business as cloud and advertising revenue growth slows.
Unity Announces China Joint Venture With Partners Including Alibaba, ByteDance
Unity hopes the local joint venture will help accelerate the U.S. gaming software maker's expansion into China.
Former Twitter Employee Convicted of Spying for Saudi Arabia
Prosecutors allege that Ahmad Abouammo shared the personal information of Saudi dissidents with an official affiliated with the Saudi government.
The RealReal Slashes Revenue Guidance, Blaming Labor Shortage
The online luxury consignor posted stagnant revenue growth but improved net losses in the second quarter of the year.
Coinbase Revenue Slumps, Users Drop
The U.S. crypto exchange reported a $1.1 billion net loss, its largest since going public
AppLovin Launches Unsolicited $17.5 Billion Bid for Unity Software
The game software maker AppLovin said its bid is contingent on Unity terminating a separate offer to buy ironSource.
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