The Information

Go-Jek motorbike drivers and riders in Jakarta. Photo: Bloomberg

Google-Backed Ride-Hailing Startup Go-Jek Valued at Over $9 Billion

By Juro Osawa · Oct 29, 2018 2:54am PDT · 1 comment

Google and Chinese giants Tencent and JD.com are doubling down on Indonesia’s Go-Jek in an investment round that could nearly double the ride-hailing startup’s valuation to more than $9 billion, people familiar with the matter said.In Southeast Asia, home to 600 million people and one of the world’s fastest-growing internet... Google and Chinese giants Tencent and JD.com are doubling down on Indonesia’s Go-Jek in an...

Amazon CEO Jeff Bezos. Photo by Bloomberg

Amazon Turns Tough With Streaming Services, in Replay of Cable Tactics

By Tom Dotan and Jessica Toonkel · Oct 26, 2018 1:51pm PDT · 3 comments

Amazon.com has established itself as a major distribution platform for small video-streaming services. Now the tech giant is trying to squeeze more money out of those services, sparking a battle reminiscent of the cable TV era.Amazon is looking to increase its cut of revenue from some subscription services available through Prime Video by 10 to... Amazon.com has established itself as a major distribution platform for small video-streaming...

Google's campus in Mountain View, Calif. Photo by Bloomberg.

Google’s Firing of Conservative May Fuel Discrimination Claims

By Reed Albergotti · Oct 24, 2018 3:37pm PDT · 2 comments

In recent months, President Donald Trump and right-leaning media have attacked Google for allegedly showing anti-conservative bias in its search results and workplace culture. While Google denied those criticisms, a lawsuit the search giant filed earlier this year against a former employee could fuel the perception that Google treats employees... In recent months, President Donald Trump and right-leaning media have attacked Google for...

Oprah Winfrey. Photo by Bloomberg

Apple to Launch TV Subscription Service Globally

By Jessica Toonkel · Oct 23, 2018 12:31pm PDT · 2 comments

Oprah Winfrey. Photo by Bloomberg

Apple to Launch TV Subscription Service Globally

By Jessica Toonkel · Oct 23, 2018 12:31pm PDT · 2 comments

Apple is planning to launch its upcoming TV subscription service in more than 100 countries, three people familiar with the company’s plans told The Information. That would quickly make Apple a competitor with both Amazon and Netflix, both of whose video services are widely available internationally.Apple is working to launch its new TV... Apple is planning to launch its upcoming TV subscription service in more than 100 countries,...

Inside Bird’s Scooter Economics

By Amir Efrati and Cory Weinberg · Oct 23, 2018 11:12am PDT · 2 comments

Electric scooter rental service Bird told prospective investors in June of this year that it was on pace to generate around $65 million in revenue annually. At the time, Bird was operating in roughly 10 markets and has since launched service in almost 100 more cities domestically and abroad. The company is now on pace to generate hundreds of... Electric scooter rental service Bird told prospective investors in June of this year that it was...

Oracle's former cloud chief Thomas Kurian. Photo by Bloomberg

Aborted VMware Deal Shows Oracle’s Cloud Struggles

By Kevin McLaughlin · Oct 22, 2018 7:01am PDT · 3 comments

Oracle earlier this year held talks with VMware about a deal that would have allowed VMware’s computing, storage and networking software to run on Oracle’s cloud service, making Oracle more appealing for businesses already using VMware software in their data centers, according to a person with knowledge of the talks. But the talks... Oracle earlier this year held talks with VMware about a deal that would have allowed...

Facebook CEO Mark Zuckerberg. Photo by Bloomberg

Facebook on Hunt for Big Cybersecurity Acquisition

By Reed Albergotti and Sarah Kuranda · Oct 21, 2018 10:10am PDT

In an effort to repair its tattered reputation around data protection, Facebook is stepping up efforts to acquire a major cybersecurity firm, according to four people familiar with the matter. Facebook has approached several security firms about an acquisition, two of the people said, although neither would identify the companies as discussions... In an effort to repair its tattered reputation around data protection, Facebook is stepping up...

PAX Labs CEO Bharat Vasan. Photo by PAX Labs

PAX Labs Boosts Legal, Policy Teams Ahead of Eventual IPO

By Nick Wingfield · Oct 18, 2018 7:02am PDT

PAX Labs CEO Bharat Vasan. Photo by PAX Labs

PAX Labs Boosts Legal, Policy Teams Ahead of Eventual IPO

By Nick Wingfield · Oct 18, 2018 7:02am PDT

The company behind a popular line of marijuana vaporizers is stepping up its lobbying, communications and policy efforts as it prepares for an eventual initial public offering.In recent weeks, PAX Labs—which makes a line of sleek devices for vaping cannabis in plant and oil forms—hired two technology industry veterans to help in... The company behind a popular line of marijuana vaporizers is stepping up its lobbying,...

WeChat founder Allen Zhang at a company event in China earlier this year. Photo by Bloomberg

Breaking WeChat’s Grip on China’s Social Networks

By Juro Osawa and Yunan Zhang · Oct 16, 2018 10:01am PDT · 1 comment

Imagine if Facebook’s key lieutenants quit to launch a rival product. In China, something like that just happened. Two of the people who helped develop WeChat, the nearly universal chat app run by Tencent, recently created new social networks called Pop and Echo.It comes amid signs WeChat’s grip over social networking and media... Imagine if Facebook’s key lieutenants quit to launch a rival product. In China, something...

Airbnb, TripAdvisor and other companies are looking to build revenue from activities booking.

‘Experiences’ Market Remains Small for Airbnb, Rivals

By Cory Weinberg · Oct 12, 2018 7:00am PDT · 2 comments

Airbnb’s years-long effort to crack the market for vacation tours and activities accelerated this year in what was known internally as the “summer of love.” After testing the service extensively, the company looked to grow its Experiences business rapidly, offering bar crawls, hat-making classes and other trip add-ons to more... Airbnb’s years-long effort to crack the market for vacation tours and activities...

A picking robot from Kindred Systems. Photo by Kindred Systems

Amazon Developing ‘Picking’ Robots for Warehouses

By Kevin McLaughlin · Oct 11, 2018 7:00am PDT · 1 comment

When Amazon announced plans last week to bump the minimum wage for 250,000 employees to $15 an hour, it avoided a related, but sensitive topic: When might machines replace those workers, many of whom work in its warehouses? Amazon already uses robots to handle some jobs in its warehouses, known as fulfillment centers, but it has... When Amazon announced plans last week to bump the minimum wage for 250,000 employees to $15 an...

Harvard University. Photo: Bloomberg

Harvard, Stanford, MIT Endowments Invest in Crypto Funds

By Jon Victor · Oct 10, 2018 12:32pm PDT

Harvard University. Photo: Bloomberg

Harvard, Stanford, MIT Endowments Invest in Crypto Funds

By Jon Victor · Oct 10, 2018 12:32pm PDT

The endowments of Harvard University, Stanford University, Dartmouth College, Massachusetts Institute of Technology and the University of North Carolina have made investments into at least one cryptocurrency fund, a person familiar with the investments said, in a sign of the asset class’ growing acceptance among institutional investors.... The endowments of Harvard University, Stanford University, Dartmouth College, Massachusetts...

Stewart Butterfield, co-founder and CEO of Slack. Photo: Bloomberg

Tech Founders Cede Some Power to Shareholders

By Alfred Lee · Oct 10, 2018 7:00am PDT · 1 comment

Founders wield outsize influence over many of Silicon Valley’s most successful public companies through their shareholdings. But lately a growing number of tech firms are setting limits on founder power, partly in response to investor backlash.Messaging service Slack, which is expected to go public next year, adopted rules in December that... Founders wield outsize influence over many of Silicon Valley’s most successful public...

Photo: Bloomberg

Costco Has Considered Video Streaming Service for Executive Members

By Jessica Toonkel · Oct 9, 2018 2:56pm PDT

Costco Wholesale had preliminary discussions over the past few months about offering a video streaming service as a perk for its top-tier customers, according to three people with direct knowledge of the discussions.The retailer has talked to at least two providers of existing streaming services about the possibility of offering such a service... Costco Wholesale had preliminary discussions over the past few months about offering a video...

Illustration by Scotty Reifsynder

Inside Apple’s War on iPhone Fraud in China

By Wayne Ma · Oct 9, 2018 7:02am PDT · 3 comments

Five years ago, Apple was forced to temporarily close what was then its only retail store in Shenzhen, China, after it was besieged by lines of hundreds of customers waiting to swap broken iPhones for new devices, according to two former Apple employees who were briefed about the matter. In May 2013, the Shenzhen store logged more than 2,000... Five years ago, Apple was forced to temporarily close what was then its only retail store in...

Todd Holmdahl, a corporate vice president with Microsoft's quantum computing project. Photo by Microsoft

Microsoft Quantum Project Grows With Ex-Qualcomm Engineers

By Aaron Tilley · Oct 8, 2018 7:00am PDT · 2 comments

Todd Holmdahl, a corporate vice president with Microsoft's quantum computing project. Photo by Microsoft

Microsoft Quantum Project Grows With Ex-Qualcomm Engineers

By Aaron Tilley · Oct 8, 2018 7:00am PDT · 2 comments

Microsoft’s efforts to build a futuristic computer based on quantum mechanics are getting a boost from former engineers of the chipmaker Qualcomm. Over the past few months, Microsoft has aggressively hired chip engineers from a struggling Qualcomm division devoted to building chips for the computers that power data centers, more so than... Microsoft’s efforts to build a futuristic computer based on quantum mechanics are getting a...

A local resident in Shanghai used a smartphone to have the QR code scanned through Tencent's WeChat Pay. Photo: AP

Tencent to Invest in Brazilian Fintech Startup at $4 Billion Valuation

By Wayne Ma and Juro Osawa · Oct 8, 2018 2:51am PDT · 1 comment

Chinese internet giant Tencent has agreed to invest about $200 million in Brazil’s Nubank, which offers virtual credit cards, in a deal that values the startup at around $4 billion, a person familiar with the matter said. Tencent’s first investment in Brazil makes Nubank one of the most valuable startups in Latin America. It is the... Chinese internet giant Tencent has agreed to invest about $200 million in Brazil’s Nubank,...

Heather Lommatzsch’s Tesla Model S after crashing into the back of a fire truck in South Jordan, Utah, in May. Photo: South Jordan Police Department

Tesla Gives Mixed Messages on Hands-Free Driving

By Matt Drange · Oct 5, 2018 7:00am PDT · 7 comments

One of the most appealing features of Tesla’s cars is their ability to steer themselves. But the semi-autonomous “Autopilot” feature has been linked to a series of crashes, and increasingly is blamed for encouraging drivers to take their eyes off the road and their hands off the wheel.Tesla has responded by sending drivers... One of the most appealing features of Tesla’s cars is their ability to steer themselves....

Traveloka CFO Henry Hendrawan. Photo by Bloomberg

Asia Tech Gold Rush Boosts Travel Startup to $4 Billion Price Tag

By Juro Osawa · Oct 4, 2018 1:48am PDT · 2 comments

As U.S. and Asian tech giants pour billions of dollars into Southeast Asia, local startup valuations are soaring. Now, one of the region’s biggest online travel sites is in talks for a new funding round which would double its valuation to $4.1 billion, said a person familiar with the matter.Indonesia-based Traveloka, backed by Expedia of... As U.S. and Asian tech giants pour billions of dollars into Southeast Asia, local startup...

Photo: Shutterstock.com

Foreign Venture Capitalists Raising Large Funds for China

By Yunan Zhang · Oct 3, 2018 11:36am PDT · 1 comment

Photo: Shutterstock.com

Foreign Venture Capitalists Raising Large Funds for China

By Yunan Zhang · Oct 3, 2018 11:36am PDT · 1 comment

Even as China’s domestic investors struggle to raise cash, U.S. venture capitalists and other firms based outside of China are gathering record sums of money to invest in China. Morningside, an early backer of Xiaomi, the smartphone maker listed in Hong Kong, is raising $1 billion. GGV, which backed Alibaba and travel company Qunar.com, is... Even as China’s domestic investors struggle to raise cash, U.S. venture capitalists and...