Fidelity Cuts Stripe and Reddit Valuations Amid Tech Stock Downturn
The mutual fund company also lowered its valuation of ByteDance and Instacart private shares.
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Amazon Pushes Back Against ‘Self-Preferencing’ Bill
Senate Majority Leader Chuck Schumer is under pressure to bring the bill to a vote.
Elon Musk Doubles Down on Office Return In Staff Emails
Employees must spend 40 hours in person or resign
Salesforce Shares Jump 7% On Revenue Growth, Earnings Upgrade
Salesforce, founded in 1999, has gained valuable experience during previous economic downturns, co-founder and co-CEO Marc Benioff noted on an earnings call.
Supreme Court Blocks Texas Social Media Law
The legislation would prevent social media platforms from removing posts based on views expressed in them.
Former AWS, Splunk Exec Teresa Carlson Joins Microsoft
Teresa Carlson, who led AWS' public sector business for more than a decade before moving to Splunk last year, is now at Microsoft.
Affirm Partners with Stripe
The BNPL provider has historically relied on partnerships with retailers and other sofware providers to grow the transaction volume that it takes a cut from.
India Grabs 5% of Global PC Market as Domestic Production Nears 18%
India’s share of the global PC market rose to 5% from 3% two years ago, according to Canalys. Some 18% of PCs are manufactured locally as demand soared amid a Covid recovery.
VC Investment in China Declines Faster Than in the U.S.
The value of venture capital investment in China fell 44% in the first four months of the year compared to last year, four times faster than the global drop.
Tesla Shanghai Plant’s Output Recovering As City Prepares to End Lockdown
The Shanghai plant has restored weekly output to nearly 70% of pre-lockdown levels, and Tesla expects to increase output further this week.
SoftBank Group Cuts Compensation for Some Senior Executives
The cuts come as SoftBank, the world's largest tech investment firm, is suffering from the global stock market turmoil.
China’s State-Owned Automaker Mulls Investment in Didi Global
FAW Group has offered to help Didi address data security concerns so that the ride-hailing company could aim for a Hong Kong listing in the future.
SEC Confirms Scruitiny Elon Musk’s Initial Disclosure of Twitter Stake
The SEC is investigating the timing and type of Musk’s disclosure.
Twitter Board Rejects Shareholder Vote to Oust Silver Lake’s Durban
Durban will step down from other boards.
Chinese E-commerce App Pinduoduo Reports Better-Than-Expected Results
Pinduoduo's online ad revenue grew 29% despite economic headwinds, but supply chain disruptions due to Covid lockdowns create uncertainties for the sector.
China Tech Domestic IPOs Come With Steep Discounts
Tech companies are debuting on the domestic stock market at valuations much lower than their last private rounds of financing.
Chinese Factory Workers Rebel Against Covid Lockdown at Apple Supplier
Workers at Quanta Computer in Shanghai, which manufactures Apple MacBooks and other computers, have clashed with guards in protest of a two-month lockdown.
Cybersecurity Startup Lacework Lays Off 20% of Staff
Lacework, which was valued at $8.3 billion after its last funding in November, said the workforce reduction will help it weather economic uncertainty.
U.K. Competition Authority Opens New Google Investigation
The U.K.'s competition watchdog is probing Google's ad tech, which powers its core business
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