The Information

Illustration by Mike Sullivan

Google Ramps Up Mobile Chipmaking With Talent From Apple

By Aaron Tilley · Dec 21, 2017 9:47am PST · 4 comments

Google has hired John Bruno, a well-regarded chip designer from Apple who had worked on the company’s series of iPhone chips since 2012. The hiring is part of a brewing effort by Google to design its own chipsets for consumer devices like the Pixel phone.Mr. Bruno follows a number of other experienced chip engineers who have defected to... Google has hired John Bruno, a well-regarded chip designer from Apple who had worked on the...

Didi President Jean Liu. Photo by Bloomberg.

China’s Didi in Talks to Buy Brazil’s 99, Threatening Uber

By Yunan Zhang · Dec 21, 2017 5:27am PST · 1 comment

Chinese ride-hailing giant Didi Chuxing is in talks to buy a majority stake in Brazilian ride hailing app 99, according to a person familiar with the talks. If the deal is completed, it would threaten Uber, which now dominates the Brazilian market.It could also accelerate a broader reorganization in the global ride-sharing sector pursued by Didi... Chinese ride-hailing giant Didi Chuxing is in talks to buy a majority stake in Brazilian ride...

A Pinterest-branded banner on the New York Stock Exchange earlier this year. Photo by Bloomberg.

Pinterest, After Just Missing 2017 Revenue Target, Plans Sales Ramp-Up

By Amir Efrati, Alfred Lee and Serena Saitto · Dec 20, 2017 3:39pm PST

Pinterest is likely to slightly fall short of its revenue projection for 2017, says a person briefed on the numbers. The company is expected to wait until 2019 to go public, giving it more time to accelerate growth and justify its $12.3 billion valuation, say people familiar with the situation. Pinterest, which people use to bookmark and search... Pinterest is likely to slightly fall short of its revenue projection for 2017, says a person...

An artists' rendering of the roof deck at Treehouse's first Los Angeles apartment building. Image by Treehouse.

Startups Take On More Risk to Popularize ‘Co-Living’

By Cory Weinberg · Dec 20, 2017 10:02am PST · 2 comments

An artists' rendering of the roof deck at Treehouse's first Los Angeles apartment building. Image by Treehouse.

Startups Take On More Risk to Popularize ‘Co-Living’

By Cory Weinberg · Dec 20, 2017 10:02am PST · 2 comments

Venture capitalists have been slow to warm to startups wanting to rent out shared living spaces like college dorms. Now, new coliving companies have emerged with a different approach to the business—one they say promises a higher return but carries much more risk.The new approach, pursued by startups like Starcity and Treehouse, involves... Venture capitalists have been slow to warm to startups wanting to rent out shared living spaces...

OfferUp CEO Nick Huzar. Photo by Bloomberg.

Sequoia, SoftBank Passed On OfferUp Investment

By Serena Saitto · Dec 15, 2017 5:38pm PST

Would-be Craigslist competitor OfferUp has been trying to raise about $100 million in financing for at least five months, according to people with direct knowledge of the situation. It’s been tough going, a sign of how quickly tech startups can lose popularity among investors.Prominent tech investors, including Sequoia Capital and... Would-be Craigslist competitor OfferUp has been trying to raise about $100 million in financing...

Snap CEO Evan Spiegel and People VP Jason Halbert. Art by Mike Sullivan

Employee Complaints About Snap Personnel Chief Led to Outside Inquiry

By Tom Dotan · Dec 15, 2017 2:43pm PST · 1 comment

There might not be a more unique, or controversial, human resources chief than Snap’s Jason Halbert, a decorated ex-military officer who served two tours in Afghanistan.Mr. Halbert, who came to Snap with no experience in corporate human resources but is close to CEO Evan Spiegel, is infamous for regaling the staff with military stories... There might not be a more unique, or controversial, human resources chief than Snap’s Jason...

SoftBank CEO Masayoshi Son. Photo: Bloomberg

New Hurdle for SoftBank’s Uber Investment: Regulatory Review

By Juro Osawa, Shai Oster and Serena Saitto · Dec 14, 2017 10:52am PST · 1 comment

SoftBank founder Masayoshi Son’s global buying spree is running into a potentially significant roadblock: the U.S. government.The fate of Mr. Son’s most ambitious moves, including the financing of his $100 billion Vision Fund and SoftBank’s proposed investment in Uber, hinges in part on the approval of the Committee on Foreign... SoftBank founder Masayoshi Son’s global buying spree is running into a potentially...

A Lyft car. Photo by Bloomberg.

Lyft Rejiggers Leadership Team as It Tackles Driver Costs

By Amir Efrati · Dec 13, 2017 9:33am PST · 1 comment

A Lyft car. Photo by Bloomberg.

Lyft Rejiggers Leadership Team as It Tackles Driver Costs

By Amir Efrati · Dec 13, 2017 9:33am PST · 1 comment

The manager of Lyft’s growth group, Ran Makavy, has been promoted to also oversee engineering, product, and design at the ride-hailing firm, said two people briefed about the change. Mr. Makavy, a former Facebook manager who joined in early 2016, is now one of the most powerful executives at the company aside from its co-founders. (See... The manager of Lyft’s growth group, Ran Makavy, has been promoted to also oversee...

Nextdoor CEO CEO Nirav Tolia. Photo by Bloomberg.

Nextdoor Raised $75 Million in New Round

By Serena Saitto and Alfred Lee · Dec 11, 2017 12:08pm PST

Nextdoor, the social media platform for city neighborhoods, has raised $75 million at a valuation above the $1.1 billion level it reached in its last fundraising round in 2015, according to two people close to the situation.The precise valuation couldn’t be learned. But in August, the company authorized $75 million in new Series G shares... Nextdoor, the social media platform for city neighborhoods, has raised $75 million at a valuation...

The Toutiao app on a smartphone. Photo: Mike Sullivan

China’s Toutiao Seeks $30 Billion Valuation in Latest Fundraising

By Yunan Zhang and Juro Osawa · Dec 8, 2017 5:29am PST

The company behind Jinri Toutiao, a popular Chinese news and video feed app, is in talks to raise new funds from some of its existing investors at a valuation of $30 billion or higher, people familiar with the matter said. The fundraising hasn't been completed. Some of the people familiar with the talks said that $28 billion is the bottom... The company behind Jinri Toutiao, a popular Chinese news and video feed app, is in talks to raise...

Clarifai founder Matt Zeiler. Photo by Flickr/ETC-USC.

Once Courted by Big Tech, AI Whiz Learns Hard Realities of Startup Life

By Kevin McLaughlin · Dec 6, 2017 7:02am PST · 1 comment

Matthew Zeiler was one of the most sought-after AI engineers in the tech industry after receiving his PhD from New York University in 2013. He was courted by everyone from Facebook CEO Mark Zuckerberg to executives at Google. But Mr. Zeiler passed on the offers and launched his own startup, Clarifai, with $10 million from Google Ventures,... Matthew Zeiler was one of the most sought-after AI engineers in the tech industry after receiving...

An Equifax slide on display during a congressional hearing into Equifax's data breach in October. Photo by Bloomberg.

Prevoty Funding Shows Impact of Major Security Breaches

By Sarah Kuranda · Dec 5, 2017 10:01am PST

An Equifax slide on display during a congressional hearing into Equifax's data breach in October. Photo by Bloomberg.

Prevoty Funding Shows Impact of Major Security Breaches

By Sarah Kuranda · Dec 5, 2017 10:01am PST

Security startup Prevoty, which sells application security designed to help companies spot cyber threats, has landed $13 million in Series B funding, the company says. It is a sign that the steady stream of major hacks at companies is focusing attention on technology aimed at securing business applications. The funding was led by Trident Capital... Security startup Prevoty, which sells application security designed to help companies spot cyber...

Xiaomi CEO Lei Jun unveiling a new smartphone in China in September. Photo by Bloomberg.

Chinese Smartphone Maker Xiaomi Eyes 2018 Stock Market Listing

By Yunan Zhang, Shai Oster and Juro Osawa · Dec 1, 2017 8:18am PST · 1 comment

China’s Xiaomi, one of the world’s biggest smartphone makers, is talking to bankers about an initial public offering as early as the second half of next year, people familiar with the matter said. It would be the public market debut of one of China’s most widely recognized tech brands. Xiaomi was valued at about $46 billion in... China’s Xiaomi, one of the world’s biggest smartphone makers, is talking to bankers...

Lyft's driver hub in Los Angeles. Photo by Bloomberg.

Lyft Cut Losses on Sharply Higher Revenue in First Half

By Amir Efrati · Nov 30, 2017 12:11pm PST

Lyft’s finances improved in the first half of 2017, new documents show, as the company lost less money on revenue estimated to be 200% higher than the year-earlier period. Lyft’s improvement came as U.S. ride-hailing leader Uber experienced scandal after scandal, which shifted some riders to Lyft.Lyft brought in $483 million in... Lyft’s finances improved in the first half of 2017, new documents show, as the company lost...

Google co-founders Larry Page and Sergey Brin. Photo by AP.

Google Reckoning With History of Interoffice Romance by Top Execs

By Reed Albergotti · Nov 29, 2017 10:09pm PST · 7 comments

The romantic relationships within the walls of Google made ideal fodder for gossip columns and magazine profiles.Co-founder Larry Page dated Google lieutenant Marissa Mayer in the company’s early days, and co-founder Sergey Brin later drew attention for dating Amanda Rosenberg, a younger colleague. CEO Eric Schmidt dated publicist Marcy... The romantic relationships within the walls of Google made ideal fodder for gossip columns and...

Andy Rubin. Photo by Bloomberg

Android’s Andy Rubin Left Google After Inquiry Found Inappropriate Relationship

By Reed Albergotti · Nov 28, 2017 11:26pm PST · 3 comments

Andy Rubin. Photo by Bloomberg

Android’s Andy Rubin Left Google After Inquiry Found Inappropriate Relationship

By Reed Albergotti · Nov 28, 2017 11:26pm PST · 3 comments

Andy Rubin, the creator of Android and a key executive at Google Inc. for nine years, left the company in 2014 shortly after an internal investigation determined that he had carried on an inappropriate relationship with a subordinate, The Information has learned. Mr. Rubin has taken a leave of absence from his new smartphone startup, Essential,... Andy Rubin, the creator of Android and a key executive at Google Inc. for nine years, left the...

Art: Josh Brill

Most Big Private Tech Firms Fall Far Short on Governance

By Alfred Lee · Nov 28, 2017 6:46am PST · 1 comment

Despite their enormous size and influence, the biggest privately held technology companies eschew some basic corporate governance standards, blocking outside voices, limiting decision making to small groups of mostly white men and holding back on public disclosures, an in-depth analysis by The Information shows.Questions about governance of... Despite their enormous size and influence, the biggest privately held technology companies eschew...

Snapchat's app. Photo by AP.

How Snap’s Redesign Could Help, and Hurt, Publishers

By Tom Dotan · Nov 22, 2017 7:02am PST · 1 comment

When Snap CEO Evan Spiegel this month revealed plans to redesign the Snapchat app, he outlined a strategy to help celebrities and digital publishers get better distribution and make more money on the app. But while some new features could accomplish that goal, others could hurt traffic for media companies on the platform.The mixed impact of the... When Snap CEO Evan Spiegel this month revealed plans to redesign the Snapchat app, he outlined a...

Photo by AP.

KKR Faces Turmoil at Optiv, Its Big Security Bet

By Sarah Kuranda · Nov 21, 2017 7:01am PST · 1 comment

When private equity giant KKR spent an estimated $2 billion to buy consulting firm Optiv Security in February, it said it hoped to build Optiv into one of the “most valuable security companies to their customers.” But this year, Optiv has repeatedly missed quarterly sales targets as it has struggled with changes in its sales approach... When private equity giant KKR spent an estimated $2 billion to buy consulting firm Optiv Security...

Snap's stock at the New York Stock Exchange. Photo by AP.

Another Female Executive Leaves Snap

By Tom Dotan · Nov 20, 2017 1:11pm PST · 3 comments

Snap's stock at the New York Stock Exchange. Photo by AP.

Another Female Executive Leaves Snap

By Tom Dotan · Nov 20, 2017 1:11pm PST · 3 comments

A senior Snap human resources executive, Kathy Mandato, abruptly left the company earlier this month, just five months after joining, said several people familiar with the situation. Ms. Mandato is the latest in a string of female executives who didn’t last long at Snap, including three others in HR roles as well as former COO Emily White.... A senior Snap human resources executive, Kathy Mandato, abruptly left the company earlier this...