The Information

A Warby Parker store in New York. Photo by Mike Sullivan

Can Warby Parker Sustain Investors’ High Expectations?

By Alfred Lee and Serena Saitto · Mar 26, 2018 7:01am PDT

Warby Parker has become a major e-commerce success story since launching eight years ago. Investors seem to be banking on big growth from the trendy eyewear retailer, judging by a recent fundraising. But revenue figures suggest the company has its work cut out for it if it is going to continue to meet investors’ lofty expectations.The... Warby Parker has become a major e-commerce success story since launching eight years ago....

Photo: AP

Google to Expand Classroom Software to Business Customers

By Kevin McLaughlin · Mar 23, 2018 10:24am PDT · 1 comment

Google has established itself as a force in the education software market through its free Google Classroom app. Now, it is hoping to capitalize on the software’s popularity by offering a reconfigured version to business customers looking to train employees, said two people who have been briefed on the plans. The move could help Google... Google has established itself as a force in the education software market through its free Google...

Photo by Bloomberg.

Lyft Plans $150 Million Tender Offer as Interest in Stock Rises

By Amir Efrati and Alfred Lee · Mar 21, 2018 7:01am PDT · 3 comments

An unidentified investor is planning to buy around $150 million of shares in Lyft from employees in a tender offer, at just a 3% discount to the valuation put on Lyft in its recent fundraising. That’s a small discount for stock sold by employees in a tender and reflects investors’ intense interest right now in Lyft, which last year... An unidentified investor is planning to buy around $150 million of shares in Lyft from employees...

A DJI Phantom drone being flown in Texas last year. Photo by Bloomberg.

China’s DJI Raising Money at $15 Billion Valuation

By Yunan Zhang and Juro Osawa · Mar 20, 2018 8:31am PDT · 1 comment

A DJI Phantom drone being flown in Texas last year. Photo by Bloomberg.

China’s DJI Raising Money at $15 Billion Valuation

By Yunan Zhang and Juro Osawa · Mar 20, 2018 8:31am PDT · 1 comment

China’s DJI, the world’s largest consumer drone maker, is in talks with investors to raise a new round of funding at a valuation of $15 billion, people familiar with the discussions said.The amount raised will likely range between $500 million and $1 billion, the people said, although the deal hasn’t been finalized. The... China’s DJI, the world’s largest consumer drone maker, is in talks with investors to...

Music streaming apps shown on an iPhone. Photo: AP

Spotify Stays Ahead of Apple, but Profits Remain Elusive

By Alfred Lee · Mar 14, 2018 10:14am PDT · 1 comment

As Spotify pitches its coming public listing to investors, there are signs the music streaming service is holding its own against Apple Music. But Spotify still is wrestling with how to improve its weak margins and work toward profitability.Apple Music’s sales growth is decelerating in the U.S., according to a sales analytics firm.... As Spotify pitches its coming public listing to investors, there are signs the music streaming...

Apple CEO Tim Cook at an event in 2012. Photo by AP.

The Seven-Year Itch: How Apple’s Marriage to Siri Turned Sour

By Aaron Tilley and Kevin McLaughlin · Mar 14, 2018 7:02am PDT · 5 comments

Apple’s 2011 “Let’s talk iPhone” event at its Cupertino headquarters was a pivotal moment for the company. It was the first big showcase for new CEO Tim Cook as he tried to fill the shoes of the legendary but ailing Steve Jobs. Yet the event threatened to disappoint because the company’s new iPhone, the 4s, was... Apple’s 2011 “Let’s talk iPhone” event at its Cupertino headquarters was...

Illustration by Javier Garcia

Inside Cruise’s Bumpy Ride: The Limits of Self-Driving Cars

By Amir Efrati · Mar 13, 2018 7:02am PDT · 8 comments

When General Motors paid $581 million for self-driving car startup Cruise in 2016, it was one of the biggest bets by a company in the nascent business. Two years later, Cruise is a case study of the perils and the promise of self-driving car technology. Despite some advances, Cruise’s vehicles being tested in San Francisco are still... When General Motors paid $581 million for self-driving car startup Cruise in 2016, it was one of...

Snap's co founders, Bobby Murphy and Evan Spiegel at the New York Stock Exchange last year. Photo by AP.

Spiegel Sets Ambitious Goal for Snap: Break Even This Year

By Tom Dotan · Mar 8, 2018 2:17pm PST

Snap's co founders, Bobby Murphy and Evan Spiegel at the New York Stock Exchange last year. Photo by AP.

Spiegel Sets Ambitious Goal for Snap: Break Even This Year

By Tom Dotan · Mar 8, 2018 2:17pm PST

Snap CEO Evan Spiegel has told employees in a company-wide directive he wants the company to work toward break-even this year, an ambitious goal that could require Snap to aggressively cut costs.Snap last year lost $720 million, before interest, taxes and charges like stock compensation expenses, due mostly to heavy spending on research and... Snap CEO Evan Spiegel has told employees in a company-wide directive he wants the company to work...

Eventbrite CEO Julia Hartz. Photo: AP

Eventbrite Tries to Maintain Its Luster

By Cory Weinberg and Alfred Lee · Mar 7, 2018 11:52am PST

Last fall, Eventbrite CEO Julia Hartz made a big business bet to spend $200 million, the equivalent of the 12-year-old ticketing site’s revenue last year, to buy a competitor, Ticketfly, from Pandora. To do so, she had to raise $134 million in a previously unreported funding round, one that came with an unusual degree of concessions to... Last fall, Eventbrite CEO Julia Hartz made a big business bet to spend $200 million, the...

The creators and stars of "McMafia" at a press event in January. Photo by AP.

Networks Taking a Gamble on Streaming Services

By Tom Dotan · Mar 6, 2018 10:31am PST

Cable channel AMC last week premiered a new series, “McMafia,” about the global underworld. In the past, cord-cutters who can’t watch AMC could have waited to catch the show on Hulu, where most AMC shows end up. But “McMafia” is headed for AMC’s subscription-streaming service, Sundance Now, a previously... Cable channel AMC last week premiered a new series, “McMafia,” about the global...

A Chrysler Pacifica hybrid outfitted with Waymo's self-driving technology, displayed at the North American International Auto Show in Detroit. Photo by AP

Uber Seeks Deal for Waymo Cars

By Amir Efrati · Mar 5, 2018 10:15am PST · 2 comments

Now that the legal fight between Uber and Waymo is over, Uber wants to resurrect an old idea—partnering with Waymo to deploy self-driving cars, say people familiar with the situation.Since Dara Khosrowshahi became CEO last fall, Uber executives have signaled to Waymo a desire to allow Uber’s customers to ride in Waymo’s... Now that the legal fight between Uber and Waymo is over, Uber wants to resurrect an old...

Google's Mountain View campus. Photo by Bloomberg.

Google Talks to Katerra, Other Startups for On-Campus Apartments

By Cory Weinberg · Feb 28, 2018 11:53am PST · 2 comments

Google's Mountain View campus. Photo by Bloomberg.

Google Talks to Katerra, Other Startups for On-Campus Apartments

By Cory Weinberg · Feb 28, 2018 11:53am PST · 2 comments

Google is considering whether to hire one of an emerging group of construction startups to build thousands of apartments it is planning for employees and others in the San Francisco Bay Area, according to a letter it sent to startups and real estate developers this month. If Google goes ahead, it would give a big lift to the startups, which... Google is considering whether to hire one of an emerging group of construction startups to build...

Cisco CEO Chuck Robbins. Photo by Bloomberg.

Cisco Close to Picking New Global Sales Chief

By Kevin McLaughlin and Sarah Kuranda · Feb 21, 2018 11:28am PST

Two longtime Cisco sales executives are among the finalists to become the tech firm’s global sales chief, widely viewed internally as the number two position in the company, say people with knowledge of the matter. The executives are Alison Gleeson, who oversees sales to customers in the Americas, and Wendy Bahr, who manages Cisco’s... Two longtime Cisco sales executives are among the finalists to become the tech firm’s...

Photo: Bloomberg

Risks for Startups Taking Money From Amazon’s Alexa Fund

By Aaron Tilley and Priya Anand · Feb 20, 2018 7:02am PST

In mid-2016, Amazon.com made a $100 million offer to buy August Home, which makes locks that can be opened with an app, according to people familiar with the previously unreported offer. August had earlier released an app that worked with Amazon’s Alexa virtual assistant. More importantly, its technology allowed delivery people to easily... In mid-2016, Amazon.com made a $100 million offer to buy August Home, which makes locks that can...

Photo by Bloomberg

Uber Narrowed Loss in Q4: Full Financial Breakdown

By Amir Efrati · Feb 13, 2018 2:30pm PST

Uber is moving toward profitability.The ride-hailing firm reduced its fourth-quarter loss by 26% to $1.1 billion, compared with the third quarter, the company disclosed exclusively to The Information and its investors on Tuesday. The improvement, on 14% higher revenue of $11.1 billion, was a result of Uber better controlling costs such as... Uber is moving toward profitability.The ride-hailing firm reduced its fourth-quarter loss by 26%...

Amazon's Echo devices, powered by Alexa. Photo by Bloomberg.

Amazon Is Becoming an AI Chip Maker, Speeding Alexa Responses

By Aaron Tilley · Feb 12, 2018 7:00am PST · 2 comments

Amazon's Echo devices, powered by Alexa. Photo by Bloomberg.

Amazon Is Becoming an AI Chip Maker, Speeding Alexa Responses

By Aaron Tilley · Feb 12, 2018 7:00am PST · 2 comments

Amazon.com is developing a chip designed for artificial intelligence to work on the Echo and other hardware powered by Amazon’s Alexa virtual assistant, says a person familiar with Amazon’s plans. The chip should allow Alexa-powered devices to respond more quickly to commands, by allowing more data processing to be handled on the... Amazon.com is developing a chip designed for artificial intelligence to work on the Echo and...

WeChat founder Allen Zhang speaking last month at a conference in Guangzhou, China. Photo by Bloomberg.

At Tencent, Tensions Rise Over the Future of WeChat

By Juro Osawa · Feb 8, 2018 7:01am PST · 3 comments

WeChat had just turned seven. At a luxury hotel in southern China last month, the anniversary party raged for workers at one of the world’s most popular apps. There were lucky draws. Some employees performed a Chinese rap. Allen Zhang, WeChat’s creator, gave everyone a personally engraved iPhone X. But beneath the glitter and fun,... WeChat had just turned seven. At a luxury hotel in southern China last month, the anniversary...

Google's hardware chief Rick Osterloh at a product launch last October. Photo by Bloomberg.

Google May Step Into Gaming With ‘Yeti’ Streaming Service

By Kevin McLaughlin and Amir Efrati · Feb 7, 2018 7:01am PST · 2 comments

Google may be about to take its most serious steps to get into the videogame business. The company is developing a subscription-based game streaming service that could work either on Google’s Chromecast or possibly a Google-made console still being developed, according to people with knowledge of the project.The service, codenamed Yeti,... Google may be about to take its most serious steps to get into the videogame business. The...

Spotify CEO Daniel Ek. Photo by Bloomberg.

Spotify’s Q3 Revenue Points to Full Year Growth of 40%

By Alfred Lee · Feb 6, 2018 3:21pm PST

Spotify generated a billion euros ($1.2 billion) in revenue in the third quarter of 2017, according to two investors briefed on the numbers. That puts it on track for full year revenue of more than four billion euros, up about 40% from 2016. And it would continue a streak of fast growth as Spotify readies for one of the highest-valued tech... Spotify generated a billion euros ($1.2 billion) in revenue in the third quarter of 2017,...

Note: Share price is for preferred stock;
Sources: CoinMarketCap, Company filings, The Information reporting

Cryptocurrency Surge Raises Questions About Company Valuations

By Alfred Lee · Jan 31, 2018 10:50am PST · 1 comment

Note: Share price is for preferred stock;
Sources: CoinMarketCap, Company filings, The Information reporting

Cryptocurrency Surge Raises Questions About Company Valuations

By Alfred Lee · Jan 31, 2018 10:50am PST · 1 comment

Investors are finding yet another way to bet on the cryptocurrency boom: buying up stock in a well-known cryptocurrency company on private marketplaces.Investment funds and money managers for wealthy individuals have bid up shares of Ripple, the company behind the cryptocurrency XRP, to more than 10 times its previous price, valuing the private... Investors are finding yet another way to bet on the cryptocurrency boom: buying up stock in a...