The Information

Tourists in Amsterdam. Photo: AP

Airbnb Opponents Take Fight to SEC Ahead of IPO

By Cory Weinberg · Sep 17, 2020 6:02am PDT

Dozens of affordable housing groups and community organizations that have long accused Airbnb of exacerbating housing shortages are taking their grievances to U.S. financial regulators just as the short-term rental giant prepares to go public.In a letter to the U.S. Securities and Exchange Commission viewed by The Information, the groups... Dozens of affordable housing groups and community organizations that have long accused Airbnb of...

Photo by Imaginechina via AP Images

ByteDance Rival Kuaishou Seeks $50 Billion Valuation in Hong Kong IPO

By Yunan Zhang and Juro Osawa · Sep 16, 2020 8:50pm PDT · 1 comment

Chinese online video startup Kuaishou, TikTok owner ByteDance’s biggest domestic rival, is seeking an initial public offering in Hong Kong as early as this year, according to people familiar with the matter. Kuaishou, which was valued at $28 billion in its most recent funding round last year, is aiming for a valuation of $50 billion... Chinese online video startup Kuaishou, TikTok owner ByteDance’s biggest domestic rival, is...

Larry Ellison discussing Oracle Cloud on stage in 2016. Photo by Bloomberg

With TikTok Deal, Oracle Could Gain Billion-Dollar Cloud Customer

By Amir Efrati · Sep 16, 2020 6:00am PDT

Oracle’s deal to act as TikTok’s new “trusted technology partner” could be worth more than $1 billion in potential revenue annually for Oracle’s cloud business in the coming years, according to previously undisclosed data viewed by The Information.Revenue from housing TikTok’s data on Oracle’s servers... Oracle’s deal to act as TikTok’s new “trusted technology partner” could...

Zoom CEO Eric Yuan. Photo by AP

Zoom Invests in Big Messaging Upgrade in Challenge to Slack

By Kevin McLaughlin · Sep 15, 2020 12:04pm PDT · 3 comments

Zoom CEO Eric Yuan. Photo by AP

Zoom Invests in Big Messaging Upgrade in Challenge to Slack

By Kevin McLaughlin · Sep 15, 2020 12:04pm PDT · 3 comments

Zoom Video Communications became a household name with a video conferencing service that has become a ubiquitous tool for businesses and students during the pandemic. Now Zoom is looking to seriously up its game in another important area: messaging. Zoom has been quietly working on a major upgrade to the messaging functions inside its video... Zoom Video Communications became a household name with a video conferencing service that has...

Photo by Bloomberg

Alibaba Eyes Stake in Online Jobs Classifieds Company Zhaopin

By Juro Osawa · Sep 15, 2020 3:53am PDT

Chinese e-commerce giant Alibaba Group is in talks to invest hundreds of millions of dollars in Zhaopin, one of China’s biggest recruitment sites, people familiar with the matter said. Alibaba, whose online marketplaces serve as a platform for millions of Chinese businesses, also operates China’s biggest cloud computing services... Chinese e-commerce giant Alibaba Group is in talks to invest hundreds of millions of dollars in...

Photo: AP

Co-Living Startup HubHaus Plans to Shut Down

By Cory Weinberg · Sep 11, 2020 11:24am PDT · 1 comment

Executives at HubHaus, a venture capital–backed startup that manages shared homes, are taking steps to shut down the company after struggling to attract tenants and raise venture capital, three people familiar with the matter said. HubHaus has unsuccessfully shopped itself to a potential buyer in recent weeks, and also sought... Executives at HubHaus, a venture capital–backed startup that manages shared homes, are...

Roam Research co-founder Joshua Brown (l), co-founder and CEO Conor White-Sullivan, and Victoria Ledford, head of operations. Photo credit: Roam Research

A $200 Million Seed Valuation for Roam Shows Investor Frenzy for Note-Taking Apps

By Kate Clark · Sep 11, 2020 6:02am PDT · 7 comments

The shift to remote work has buoyed the valuations of several startups making productivity tools. The latest is Roam Research, which has raised $9 million at a valuation of $200 million, or about 25 times higher than the median valuation for seed rounds. Roam is tapping more than a dozen individuals and firms for the round, including Stripe... The shift to remote work has buoyed the valuations of several startups making productivity tools....

AWS executive Teresa Carlson speaking at an event last year. Photo by Bloomberg

AWS Names New Global Sales Leader, Takes Aim at ‘Whales’

By Kevin McLaughlin · Sep 4, 2020 6:34am PDT

AWS executive Teresa Carlson speaking at an event last year. Photo by Bloomberg

AWS Names New Global Sales Leader, Takes Aim at ‘Whales’

By Kevin McLaughlin · Sep 4, 2020 6:34am PDT

Amazon recently promoted two senior sales executives at its clouding computing unit as part of a broader push to get more large companies to use its services, The Information has learned.With the promotions, Amazon Web Services is divvying up the role previously held by Mike Clayville, a longtime sales chief who left in August for payments... Amazon recently promoted two senior sales executives at its clouding computing unit as part of a...

Tim Cook, chief executive officer of Apple Inc., speaks via videoconference during a House Judiciary Subcommittee hearing in Washington, D.C.. Photo: Bloomberg.

Apple to Delay iOS Change Roiling Mobile Ad Market

By Alex Heath · Sep 3, 2020 9:03am PDT · 3 comments

Apple plans to delay the enforcement of a controversial change to its next mobile operating system that would upend how ads are targeted on iPhones and iPads, according to people familiar with the matter. The change in iOS 14, the next version of Apple’s mobile software, will require developers to ask users to share their device’s... Apple plans to delay the enforcement of a controversial change to its next mobile operating...

The actor Matthew Rhys, who plays the lead role in HBO's Perry Mason. Photo by HBO

How HBO Is Complicating WarnerMedia’s Ad-Based HBO Max Plans

By Tom Dotan and Jessica Toonkel · Sep 3, 2020 6:01am PDT

As WarnerMedia plans the next phase of its streaming expansion—a low-cost version of HBO Max that runs ads—it is wrestling with an unusual challenge. It can’t run ads in new episodes of HBO shows, the best known part of its programming lineup, according to several people familiar with the situation.That’s largely a result... As WarnerMedia plans the next phase of its streaming expansion—a low-cost version of HBO...

Patrick Collison, CEO and co-founder of Stripe, left, and John Collison, president and co-founder of Stripe, in 2018. Photo by Bloomberg.

Venture Capitalists’ Newest Threat: Stripe

By Kate Clark · Sep 2, 2020 12:35pm PDT · 2 comments

Stripe has become one of Silicon Valley’s most prominent startups, valued at $36 billion thanks to its technology powering online purchases for clients like Target and Amazon. In the background, its founders have also been building another business: venture capital. Since 2017, the San Francisco–based company has invested in... Stripe has become one of Silicon Valley’s most prominent startups, valued at $36 billion...

Patreon CEO and co-founder Jack Conte performing in 2014 in Anaheim. Photo by Gage Skidmore/Flickr

Patreon Raising Round at $1.2 Billion Valuation

By Amir Efrati and Zoë Bernard · Sep 1, 2020 3:09pm PDT

Patreon CEO and co-founder Jack Conte performing in 2014 in Anaheim. Photo by Gage Skidmore/Flickr

Patreon Raising Round at $1.2 Billion Valuation

By Amir Efrati and Zoë Bernard · Sep 1, 2020 3:09pm PDT

Patreon—the online service that allows podcasters, musicians and others to receive financial support from fans—has raised a $90 million round of funding from fans of its own, The Information has learned. The company recently closed the round at a $1.2 billion pre-money valuation, according to two people familiar with the matter.... Patreon—the online service that allows podcasters, musicians and others to receive...

Bloomberg

ByteDance’s Big Problem: Finding the Next TikTok

By Yunan Zhang and Juro Osawa · Sep 1, 2020 12:58pm PDT

The likely sale of TikTok’s U.S. operations to a U.S. company will leave a gaping hole at ByteDance, the app’s Chinese parent. In the last year alone, TikTok helped ByteDance expand its reach to hundreds of millions of users around the world. But so far, the company has struggled to develop new products that could aspire to... The likely sale of TikTok’s U.S. operations to a U.S. company will leave a gaping hole at...

Photo by Bloomberg

Walmart Joined Microsoft’s Bid for TikTok

By Jessica E. Lessin · Aug 27, 2020 8:34am PDT

Microsoft and Walmart jointly bid to acquire TikTok's U.S. business, according to a person involved in the situation.The software giant brought the e-commerce company into the deal to provide a platform to support digital sales on the platform, this person said.The bids were submitted yesterday, with bidders waiting to hear from... Microsoft and Walmart jointly bid to acquire TikTok's U.S. business, according to a person...

Photo-illustration by Mike Sullivan

From Kingmaker to ‘Autocrat’: How Game Makers Went to War With Apple

By Nick Wingfield and Alex Heath · Aug 27, 2020 7:01am PDT

For a decade, Apple executives showed Epic Games the kind of love they reserve for only a precious few software developers. In 2010, Steve Jobs, then Apple’s CEO, praised a new Epic sword-fighting game for iPhones as “pretty remarkable” at an Apple event, before inviting executives from the company to demonstrate it onstage. In... For a decade, Apple executives showed Epic Games the kind of love they reserve for only a...

SoftBank founder Masayoshi Son. Photo: Bloomberg

SoftBank Eyes Joining Deal for TikTok

By Jessica E. Lessin · Aug 26, 2020 10:20am PDT

SoftBank founder Masayoshi Son. Photo: Bloomberg

SoftBank Eyes Joining Deal for TikTok

By Jessica E. Lessin · Aug 26, 2020 10:20am PDT

As President Donald Trump’s September deadline for TikTok to sell its U.S. business approaches, investors are scrambling to assess or participate in a deal. One party that has recently emerged as a possible buyer: SoftBank. It seemed unlikely that SoftBank, one of the most ambitious and deeply pocketed private tech investors through... As President Donald Trump’s September deadline for TikTok to sell its U.S. business...

The People in Power at Netflix: An Update

By Tom Dotan · Aug 21, 2020 7:01am PDT

Many Hollywood studios have struggled to restart production, particularly in the U.S. in the past few weeks, given the challenges of navigating social distancing rules on a film set. But Netflix has had an advantage: Over the past couple of years, it has amassed a network of studio facilities overseas, where production has been easier to... Many Hollywood studios have struggled to restart production, particularly in the U.S. in the past...

ByteDance founder Zhang Yiming. Photo by Bloomberg

Tencent, Xiaomi Invested in TikTok’s Parent, ByteDance

By Yunan Zhang and Juro Osawa · Aug 20, 2020 10:00am PDT

The list of current and former investors in TikTok’s owner ByteDance include some of the biggest names in finance, including Sequoia Capital and General Atlantic—along with some of the biggest Chinese tech firms. The Information has learned that Chinese internet giant Tencent, one of ByteDance’s biggest competitors, bought... The list of current and former investors in TikTok’s owner ByteDance include some of the...

Nashville skyline. Illustration by Mike Sullivan

How One Rental Startup Gamed Airbnb

By Paris Martineau · Aug 19, 2020 7:01am PDT · 1 comment

Three years ago, an unusual real estate shopping spree among colleagues kicked off in Nashville, Tenn. Jay Roberts, the CEO and co-founder of a startup called Domio, purchased a newly constructed condo in the city’s North Nashville neighborhood with his then-girlfriend. A few days later, 24-year-old Adrian Lam, chief strategy officer and... Three years ago, an unusual real estate shopping spree among colleagues kicked off in Nashville,...

Art by Mike Sullivan

Apple’s China Loopholes Are Starting to Close

By Wayne Ma · Aug 18, 2020 7:01am PDT · 1 comment

Art by Mike Sullivan

Apple’s China Loopholes Are Starting to Close

By Wayne Ma · Aug 18, 2020 7:01am PDT · 1 comment

In 2017, Apple rolled out a flurry of projects executives hoped would endear it to Chinese officials. It announced three new research and development centers in China and ceded control of Chinese user data to a local partner. Soon after, Apple’s newly appointed head of Greater China, Isabel Ge Mahe, had meetings with Chinese... In 2017, Apple rolled out a flurry of projects executives hoped would endear it to Chinese...