ByteDance Rival Kuaishou Seeks to Raise $5 Billion in Hong Kong IPO
The company said revenue rose 48% to the equivalent of $3.8 billion in the first half of the year. Net losses in 2019 were roughly $3 billion.
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Facebook Tweaks System to Combat Election Misinformation
“As vote counting continues, we are seeing more reports of inaccurate claims about the election,” the company said in a statement.
Alibaba, Richemont Announce $1.1 Billion Deal with Farfetch
The three-way alliance could have a significant impact on China's luxury market, which is emerging as the most important battleground for global brands.
Anonymous Trump Administration ‘Resistance’ Author Leaves Google
Miles Taylor, the former Homeland Security chief of staff behind the New York Times op-ed critical of the president, had been on unpaid leave since August.
Dropbox Sales Up 14% But Paying User Growth Slows
Dropbox is continuing to attract more paying users, but metrics like user growth and average revenue per user slowed compared to last quarter.
Lionsgate Reports 13.7 Million Streaming Subscribers
The company expects 25% of its revenue will come from its streaming business by 2024.
Roku Revenue Soars Continuing Pandemic Boost
The company's ad revenue was up 78% during the period compared to last year
Uber Reports 18% Drop in Revenue for Q3
Uber's results showed that its ride hailing business improved a little from the second quarter, when the pandemic had devastated demand.
BuzzFeed Returns to Profitability
The company's revenue will be flat from last year, the CEO said in a memo.
Delivery Startup GoPuff Buys California Liquor Chain
The move represents another foray from a SoftBank-backed startup into brick-and-mortar real estate expansion.
ESPN to Lay Off 300 Employees
In a note ESPN's Chairman Jimmy Pitaro said the move had to be made as the pace of cord cutting accelerates
ByteDance in Talks to Raise $2 Billion at $180 Billion Valuation
The talks show that despite the TikTok drama, ByteDance's overall valuation has held up.
Discovery Reports Lower Ad Revenue for Quarter
Discovery's third quarter results show how cord-cutting hurts ad revenue as well as subscriber numbers.
Justice Department Sues to Block Visa’s $5.3 Billion Deal for Plaid
The Justice Department filed a lawsuit aimed at preventing Visa from acquiring financial technology startup Plaid in a $5.3 billion deal.
Alibaba CEO: “Actively Evaluating” Impact of Ant IPO Halt
The last-minute suspension of Ant Group's $37 billion IPO already has hurt Alibaba's New York-listed stock.
TikTok Invites British Lawmakers to Review Algorithms
TikTok’s U.K. head of policy Elizabeth Kanter appeared before a parliamentary committee hearing into forced Uighur-labour in China.
Nintendo Raises Annual Forecast For Net Profit By 50%
The revised forecast shows how video gaming is a major beneficiary of the pandemic, which has boosted demand for at-home entertainment.
East Coast City Bans Police Use of Facial Recognition
Portland, Maine becomes the latest city to ban law enforcement and city agencies from using the controversial technology.
YouTube Allows Video Declaring Trump Victory to Remain, Pulls Ads
The video has over 300,000 views and said states like Michigan, Wisconsin, Pennsylvania, and Arizona were “all Trumps.”
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The Information AM by The Information Staff
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