Baidu Revenue Falls 7%, Sees Post-Covid Rebound
The Beijing-based search engine company says user growth jumped in March after new Covid-19 cases peaked.
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The Information AM
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Disney’s Streaming Chief Leaves for TikTok CEO Role
Kevin Mayer had been passed over for Disney CEO role earlier this year.
Facebook Sees Oculus VR Content Sales Top $100 Million
It’s an impressive stat for a still-nascent platform and a rare peek into how the VR industry is maturing.
Klobuchar Calls for Antitrust Scrutiny of Tech Deals
Sen. Klobuchar expanded her call for antitrust scrutiny of a possible Uber-Grubhub merger. She also called out Facebook’s acquisition of Giphy.
Microsoft, FedEx Teaming Up to Compete With Amazon
In the latest phase of Microsoft and FedEx's business relationship, they'll jointly develop new logistics services that run on the Azure cloud.
Uber Cuts 3,000 More Jobs, Bringing Total Workforce Reduction to 27%
Uber is reducing its fixed costs as Covid-19 fallout devastates its core business.
Grubhub Rejects Uber’s Latest Offer
Uber and Grubhub merger negotiations continued through the weekend without reaching a deal.
General Atlantic Invests $870 Million Into Reliance’s Jio Platforms
The latest investment bring to more than $8 billion the amount of outside investment India conglomerate Reliance has brought into its digital unit.
Jack Ma to Leave SoftBank Board Amid Record Losses and a Stock Buyback
SoftBank’s bottom line has been badly hit by the weak performance of its Vision Fund, while its shares are rising thanks to huge stock buyback program.
Apple, Cisco, Qualcomm Face China Backlash After U.S. Chip Ban Tightened on Huawei
Chinese state media threatened retaliation against U.S. tech companies after the Trump Administration moved Friday to further restrict Huawei's access to microchips.
Justice Department Likely to Bring Antitrust Suit Against Google
After month of investigating Google, the Justice Department is now leaning toward bringing suit against the search giant for violating antitrust laws.
Gamemaker Machine Zone Sells for Steep Discount
AppLovin acquired Machine Zone for $500 million, a steep discount from the videogame maker’s prior valuation
Audio Social App Clubhouse Valued at $100 Million in Andreessen Horowitz Deal
The deal reflects investor appetite for new social platforms, though Clubhouse has yet to gain popularity beyond the current group of techies who use the app.
Facebook to Buy Giphy
The deal was valued near $300 million, a roughly 50% drop from Giphy’s last known valuation of $600 million in 2016.
Vice to Lay Off 100 Employees
The move comes as the media company seeks to cut costs in its digital business amid declines in advertising.
TSMC to Build Chip Plant in Arizona
The plant would assuage concerns that the U.S. is too dependent on chips made in Asia and also is a political win for the Trump administration.
Libra Association Adds Temasek, Paradigm, Slow Ventures
The embattled Libra project has gained momentum in recent weeks after pivoting its strategy to appease financial regulators.
Microsoft Adds to 5G Portfolio With Metaswitch Deal
This is Microsoft's second acquisition in the past two months of tech that enables functions of large-scale networks to be managed via software.
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