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TikTok Agreed to Buy More Than $800 Million in Cloud Services From Google

By Kevin McLaughlin and Amir Efrati · Jul 14, 2020 1:12pm PDT

For years, Google Cloud has languished in third place in the cloud computing market, with fewer marquee customers to boast of than rivals Amazon Web Services and Microsoft. Last week, though, word surfaced of a buzzy new customer for Google Cloud—TikTok, the app for sharing short videos that is the year’s runaway social media... For years, Google Cloud has languished in third place in the cloud computing market, with fewer...

Art by Mike Sullivan.

Amazon Alum’s Exit From TV Firm Shows Pitfalls for Tech Execs in Media

By Jessica Toonkel · Jul 13, 2020 10:01am PDT

Amazon alumni have turned up at a wide range of digital and traditional media firms, such as Snap and Disney. But one of the biggest contingents—around 100—has defected to TV firm Discovery, owner of the Discovery Channel, HGTV and Animal Planet, following a former Amazon Marketplace executive, Peter Faricy. He was hired in 2018 to... Amazon alumni have turned up at a wide range of digital and traditional media firms, such as Snap...

Lo Toney of Plexo Capital (left) and Adeyemi Ajao of Base10 Partners. Photo: Plexo, Base10

Venture Capital Firms Pushed to Take Historically Black Colleges as LPs

By Kate Clark · Jul 13, 2020 7:01am PDT · 3 comments

A group of Black venture capital managers is pressing Silicon Valley’s largest firms to commit to including historically Black colleges and universities among their limited partners, the institutions and individuals that provide capital to VC funds and reap the returns. Lo Toney, who spun out Plexo Capital from Alphabet’s... A group of Black venture capital managers is pressing Silicon Valley’s largest firms to...

A TikTok sign at event in Tokyo last year. Photo by Bloomberg

For TikTok, an Amazon Ban That Wasn’t, a Wells Fargo Ban That Was

By Mark Di Stefano, Alex Heath and Paris Martineau · Jul 10, 2020 3:53pm PDT

A TikTok sign at event in Tokyo last year. Photo by Bloomberg

For TikTok, an Amazon Ban That Wasn’t, a Wells Fargo Ban That Was

By Mark Di Stefano, Alex Heath and Paris Martineau · Jul 10, 2020 3:53pm PDT

It was a head-spinning day for TikTok, the hit video-sharing app. Hours after Amazon told employees to delete TikTok from their phones over security concerns, the internet giant publicly reversed its decision after a flurry of behind-the-scenes discussions between the two companies. Amazon’s initial email telling employees to get rid... It was a head-spinning day for TikTok, the hit video-sharing app. Hours after Amazon told...

Apple CEO Tim Cook speaking at the company's online Worldwide Developer Conference in June. Photo by Bloomberg

Apple Reaches New Stage in Development of AR Devices

By Wayne Ma and Yunan Zhang · Jul 10, 2020 7:01am PDT · 1 comment

The coronavirus pandemic has disrupted key parts of Apple’s business, but it hasn’t derailed the company’s plans to build what could be its next important technology platform—augmented reality devices. The Information has learned that Apple is working with Taiwan’s Foxconn Technology, Apple’s largest contract... The coronavirus pandemic has disrupted key parts of Apple’s business, but it hasn’t...

An Under Armour store in Chicago. Photo by Bloomberg

Under Armour Seeks Buyer for MyFitnessPal App

By Jessica Toonkel and Nick Wingfield · Jul 7, 2020 7:01am PDT · 1 comment

A few years ago, Under Armour made a splashy entrance into the burgeoning market for digital fitness apps with a series of acquisitions. Now, as the coronavirus batters its business, the sports apparel maker has decided to part ways with the biggest of those deals.Under Armour is looking to sell MyFitnessPal, an app it bought in 2015 for around... A few years ago, Under Armour made a splashy entrance into the burgeoning market for digital...

Attendees at the 2018 E3 conference in Los Angeles walk past a booth for Warner Bros. Interactive Entertainment. Photo by Bloomberg

Microsoft Expresses Interest in Acquiring Warner Game Unit

By Jessica Toonkel · Jul 6, 2020 11:35am PDT

Microsoft has expressed interest in acquiring the games division of Warner Bros., the publisher behind popular game franchises based on Batman, Harry Potter and other characters, according to two people familiar with the situation.An acquisition of the business, which consists of game development studios scattered around the U.S., Canada and the... Microsoft has expressed interest in acquiring the games division of Warner Bros., the publisher...

Ron Conway (left) and Pharrell Williams. Photos by Bloomberg; AP

Pharrell Williams, Ron Conway Teaming Up for New Venture Fund

By Kate Clark · Jul 2, 2020 4:10pm PDT

Ron Conway (left) and Pharrell Williams. Photos by Bloomberg; AP

Pharrell Williams, Ron Conway Teaming Up for New Venture Fund

By Kate Clark · Jul 2, 2020 4:10pm PDT

Veteran tech investor and SV Angel founder Ron Conway is working with Grammy Award–winning musician Pharrell Williams to raise a venture capital fund, according to two people familiar with the matter. The new fund aims to make investments in startups led by underrepresented minorities.The pair are currently in discussions with limited... Veteran tech investor and SV Angel founder Ron Conway is working with Grammy Award–winning...

Illustration by J.Claeys

Uber CEO Wants to Shift More Engineering Jobs to India, Sparking Internal Debate

By Amir Efrati · Jul 2, 2020 7:01am PDT · 5 comments

Since Dara Khosrowshahi became CEO of Uber in 2017, he has been steadily pushing his engineering team to move jobs to India as a way of saving money. Despite some resistance from his top technology executive, Khosrowshahi made progress: about 15% of Uber’s engineering team, or about 600 people, is now in India. That’s up from 80... Since Dara Khosrowshahi became CEO of Uber in 2017, he has been steadily pushing his engineering...

Facebook CEO Mark Zuckerberg. Photo by Bloomberg; art by Mike Sullivan.

Zuckerberg Tells Facebook Staff He Expects Advertisers to Return ‘Soon Enough’

By Alex Heath · Jul 1, 2020 2:49pm PDT · 9 comments

Facebook CEO Mark Zuckerberg told employees he was reluctant to bow to the threats of a growing ad boycott, saying in private remarks that “my guess is that all these advertisers will be back on the platform soon enough.”Zuckerberg gave his thoughts on the boycott, which now includes large brands like Starbucks and Coca-Cola, during... Facebook CEO Mark Zuckerberg told employees he was reluctant to bow to the threats of a growing...

WarnerMedia's new CTO Richard Tom and new CEO Jason Kilar in 2015, when the two worked together at Vessel. Photo by AP

Kilar’s Radical Vision for WarnerMedia: Putting Consumers First

By Jessica Toonkel · Jul 1, 2020 7:00am PDT · 2 comments

A few weeks ago, WarnerMedia’s new CEO, Jason Kilar, met with a group of executives developing a version of the company’s HBO Max streaming service that would carry commercials. WarnerMedia plans to make this version cheaper than the $15 a month commercial-free offering that debuted last month.After reviewing the plan, Kilar politely... A few weeks ago, WarnerMedia’s new CEO, Jason Kilar, met with a group of executives...

TikTok Vulnerable to Fake Followers, Security Firm Warns

By Alex Heath · Jun 30, 2020 10:20am PDT

TikTok Vulnerable to Fake Followers, Security Firm Warns

By Alex Heath · Jun 30, 2020 10:20am PDT

TikTok has grown into one of the most popular apps in the world while largely avoiding the prevalence of fake accounts that plague its older peers in social media. But it could lose that edge if it doesn’t strengthen its defenses, new research shows. The Chinese-owned video app currently relies on security measures that can be... TikTok has grown into one of the most popular apps in the world while largely avoiding the...

Katerra CEO Paal Kibsgaard, shown in 2018. Photo: Bloomberg

SoftBank-Backed Katerra Lays Off More Than 400 Employees

By Cory Weinberg · Jun 29, 2020 4:31pm PDT

Construction startup Katerra, which has raised more than $1 billion from SoftBank’s Vision Fund, laid off more than 400 people on Monday, people familiar with the matter said. It is the latest of at least four rounds of cuts at the Menlo Park, Calif.-based startup since last fall.The layoffs amounted to 7% of the staff, a company... Construction startup Katerra, which has raised more than $1 billion from SoftBank’s Vision...

Snowflake CEO Frank Slootman. Photo by Snowflake

IPO Contender Snowflake on Pace for $400 Million in 2020 Revenue

By Kevin McLaughlin · Jun 29, 2020 7:01am PDT

If Snowflake goes public this year, as many watchers of the subscription software company expect, its soaring revenue will be a big reason why. The Information has learned that the company—which offers a type of cloud database known as a data warehouse—is on track to hit $400 million in revenue in 2020, if current sales trends... If Snowflake goes public this year, as many watchers of the subscription software company expect,...

Alphabet and Google CEO Sundar Pichai in January. Photo by Bloomberg.

Google Staff Push CEO Sundar Pichai to Detail Remote Work Plans

By Nick Bastone and Alex Heath · Jun 26, 2020 7:00am PDT · 1 comment

Google’s all-hands meeting on Thursday was supposed to focus on updates to its Google Photos product and its work to promote racial equity. Among the questions staff most wanted senior executives to answer, however, were those concerning the company’s future work-from-home policy. Google CEO Sundar Pichai told employees the... Google’s all-hands meeting on Thursday was supposed to focus on updates to its Google...

Zoox CEO Aicha Evans. Photo by Bloomberg

Amazon to Pay More Than $1 Billion for Self-Driving Car Developer Zoox

By Amir Efrati · Jun 25, 2020 8:31pm PDT · 1 comment

Zoox CEO Aicha Evans. Photo by Bloomberg

Amazon to Pay More Than $1 Billion for Self-Driving Car Developer Zoox

By Amir Efrati · Jun 25, 2020 8:31pm PDT · 1 comment

Amazon has agreed to pay more than $1 billion to buy Zoox, an early developer of autonomous vehicles, marking the entrance of one of the world’s most deep-pocketed companies in the long race to develop driverless cars, according to people with knowledge of the deal. The deal, which could be announced as early as Friday, would give... Amazon has agreed to pay more than $1 billion to buy Zoox, an early developer of autonomous...

Bill Nye, host of a show made by Stitcher. Photo by AP

Scripps Exploring Sale of Podcast Service Stitcher

By Tom Dotan · Jun 24, 2020 10:25am PDT · 2 comments

TV broadcaster E.W. Scripps Co. is shopping podcasting service Stitcher around, according to people familiar with the matter, in an apparent effort to cash in on a surge of interest in the podcasting industry from companies such as Spotify and satellite radio giant Sirius XM.Stitcher is one of the biggest podcast apps not owned by the two giants... TV broadcaster E.W. Scripps Co. is shopping podcasting service Stitcher around, according to...

Mukesh Amabani and Mark Zuckerberg. Photos by Bloomberg. Art by Mike Sullivan

How India’s Jio Won Facebook’s Heart

By Wayne Ma and Juro Osawa · Jun 24, 2020 7:02am PDT · 2 comments

Four years ago, India’s richest man, Mukesh Ambani, set out to remake India’s mobile industry by launching a cellular phone service with rock-bottom prices that made it affordable for India’s rural poor. After Reliance Industries, his business empire spanning oil, retail and other sectors, invested $30 billion to build the... Four years ago, India’s richest man, Mukesh Ambani, set out to remake India’s mobile...

Endeavor Group's Ariel Emanuel and Patrick Whitesell. Photo by Alex J. Berliner/ABImages via AP Images

What’s Next for Endeavor?

By Jessica Toonkel · Jun 22, 2020 6:46am PDT · 1 comment

For most of the past year, everything that could go wrong for Endeavor Group Holdings did go wrong. The entertainment firm—which owns everything from a controlling interest in Ultimate Fighting Championship, the mixed martial arts league, to WME, the powerful Hollywood talent agency that represents Matt Damon and Justin... For most of the past year, everything that could go wrong for Endeavor Group Holdings did go...

A TikTok sign at a ByteDance event in Tokyo last year. Photo by Bloomberg

TikTok’s U.S. Revenues Expected to Hit $500 Million This Year

By Yunan Zhang and Tom Dotan · Jun 17, 2020 7:02am PDT · 1 comment

A TikTok sign at a ByteDance event in Tokyo last year. Photo by Bloomberg

TikTok’s U.S. Revenues Expected to Hit $500 Million This Year

By Yunan Zhang and Tom Dotan · Jun 17, 2020 7:02am PDT · 1 comment

TikTok has taken off like a rocket ship in the U.S. and around the world, creating a new mobile video experience that has left YouTube and Facebook scrambling to keep up. Now, under a new CEO, former Disney executive Kevin Mayer, the Chinese-owned social app hopes to turn that growth into billions in revenues. Mayer could look to the success of... TikTok has taken off like a rocket ship in the U.S. and around the world, creating a new mobile...