JPMorgan Reports on “Uninvestable” China Tech Stocks Were Published in Error
The JPMorgan analyst reports, published in March, helped fuel more selloffs of Chinese internet stocks.
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Allbirds Slashes Full Year Revenue Guidance Amid Slow International Sales
The sneaker seller is moving forward with plan to open more physical stores at the same time it plans to sell its goods through outside retailers.
Coinbase Reports Drop in Revenue, Active Users
Shares of Coinbase ended down 13% ahead of its first quarter results, bringing the stock to an all-time low closing price of $73. Shares tumbled an additional 15% in after-market trading.
Roblox Shares Fall as Platform’s Covid Boost Continues to Fade
The gaming and metaverse trend-setter saw revenue rise while bookings, which capture spending on Roblox’s digital currency, fell.
DOJ Antitrust Chief Kanter Barred From Working on Google Cases
Kanter previously represented Google opponents in private practice.
Shopify Unveils Push Into Digital Advertising
Shopify has finally unveiled plans for a digital ads tool. The move comes as the company's shares have been battered amid an e-commerce slowdown.
Peloton May Sell its Bikes Through Other Retailers as Sales Plunge
Peloton follows sneaker seller Allbirds in a move that counters the original direct-to-consumer brand strategy.
Peloton Revenue Drops 24% in March Quarter
Peloton CEO Barry McCarthy said the company was "thinly capitalized."
Tencent’s Riot Games Sues Gaming Studio Owned by ByteDance
Riot Games alleged that Shanghai Moonton Technology copied its "League of Legends: Wild Rift.”
Tesla Shanghai Plant Slows Production on Covid Curbs
Tesla was only making 200 vehicles a day due to issues securing components as China’s draconian Covid lockdown wreaks havoc on supply chains.
Uber to Cut Marketing and Hiring Costs, Focus on Cash Flow
“Market size is irrelevant if it doesn’t translate into profit,” Uber CEO Dara Khosrowshahi reportedly said in an email to employees.
Match Sues Google Over App Store Practices
Match said Google's app marketplace dominance harms developers and keeps them from reaching more consumers
Galaxy Digital’s Novogratz Says More ‘Difficult’ Quarters to Come for Crypto
Robinhood and Block have also been hit by the downturn in digital assets, setting bleak expectations for Coinbase earnings Tuesday.
ThredUp Slashes Revenue Guidance on Recession Fears
Consumers normally buy more used goods during economic downturns, but ThredUp's CEO says shoppers are spending more on travel than on clothing as inflation pressure rises.
AI Startup Hugging Face Valued at $2 Billion After New Funding
Founded in 2016, Hugging Face has emerged as a company that could become a kind of GitHib for machine learning engineers and data scientists.
Instagram Will Start Testing NFTs for Select Creators
A small group of U.S. Instagram users will be able to share their NFTs on the app starting this week.
Stripe CEO Defends Launch of Product That Rivals Plaid
Patrick Collison warns staff to “expect controversies” as the company’s profile grows.
Google Cloud Starts Web3 Team
The new team will help developers focused on Web3 applications
SEC Settles with Nvidia Over Crypto Mining Revenue Disclosures
The graphics card maker did not disclose that much of its gaming revenue growth for parts of 2018 was due to crypto mining.
Peloton Seeks Minority Investment
The online fitness equipment seller is peddling a series of turnaround efforts as its sales growth slips and its valuation continues to drop.
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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