Spotify Reports Strong Growth in Ad Revenues
Spotify experienced little impact from the double whammy of Apple’s ad-tracking changes, and supply shortages, which affected ad-based digital firms like Snap.
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Rent the Runway Drops Nearly 10% On Closing
The online apparel rental service's public market debut signals strong investor demand for its stock. But how well Rent the Runway does in the long haul depends on which e-commerce sector investors group the company in.
WSJ: FTC Examining Facebook Disclosures
The Wall Street Journal said Federal Trade Commission is looking into whether internal research shows that Facebook violated a 2019 settlement with the agency over privacy issues.
U.S. Bans China’s largest Telecom Operator From Providing Service in the U.S.
The FCC said China Telecom posed a national security risk because it is under the government’s control.
Waymo, Nuro Veteran Dan McCloskey Joins London-based AV Startup Wayve
tthe firm will begin a pilot with U.K. grocery delivery firms Ocado and Asda next year.
Alphabet Earnings Bolstered by Retail Spending As Stores Reopen
Retail, travel, and media spending on advertising bolstered the company’s core search and ads business in the third quarter
Microsoft Tops $20 Billion in Quarterly Profit for First Time
Sales of Office, Windows and LinkedIn products remained strong during the quarter, reflecting Microsoft's positioning as a remote work company.
Twitter’s Revenue Growth Slows in Q3
Twitter reported that its average daily active user rose 13% but most of that growth is occurring internationally, which accounts for a minority of the company's ad revenue.
AWS Lands Major Cloud Deal With British Spy Agencies
The deal, worth up to $1.4 billion over the next decade, shows how AWS is looking to expand its cloud market dominance in Europe.
Sequoia Overhauls Fund Structure to Hold Public Stocks
Under the change, a new vehicle called the Sequoia Fund would hold public stock and be the sole limited partner to the existing venture funds.
Epic Taps Facebook Exec to Help Metaverse Effort
The gaming company has hired Matthew Henick, former v.p. of content at Facebook, to help develop the company's metaverse strategy.
Execs from TikTok, Snap, YouTube Testify At Hearing on Youth Safety
It is the first time executives from Snap and TikTok have testified on Capitol Hill.
Tesla Hits $1 Trillion Market Cap After Deal with Hertz
Shares in the electric vehicle maker soared on news it would sell 100,000 cars to the car rental company.
Tiger Global Raises $8.8 Billion of $10 Billion Fund Target
Tiger Global Management, the hedge fund turned active VC investor, expects to raise a total of $10 billion for its latest fund.
Facebook Reports 35% Revenue Increase, Predicts Slow Q4 Growth
The company reported third-quarter earnings amid a barrage of damaging news articles.
Andreessen Horowitz to Raise Another $6.5 Billion for Core Venture Funds
The firm has reportedly held conversations with its limited partners about raising another two venture funds.
Allbirds Seeking to Raise Up to $269 Million in IPO
Direct-to-consumer footwear company Allbirds is seeking to go public at a price per share of between $12 and $14, translating to a market capitalization of between $1.7 billion and $2 billion.
German Scooter Company Raises $200 Million From Softbank, Mubadala
Tier is one of a host of start-ups to emerge from the scooter start-up craze of recent years.
Wikimedia Foundation Asks Big Tech To Pay For Trove of Data
Search engines, voice assistants and streaming services have for years used Wikipedia’s data for free
PayPal Says It’s Not Pursuing an Acquisition of Pinterest
The statement followed media reports that the online payments platform was in talks to acquire the e-commerce and digital pin board site for as much as $45 billion.
Weekday mornings
The Information AM by The Information Staff
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