The Information

Snap CEO Evan Spiegel. Photo by Larry Busacca/Getty Images.

Snapping up Snap Ahead of IPO Proves Tough

By Alfred Lee · Dec 1, 2016 7:01am PST · 1 comment

Much like the crowds lining up to buy Snap’s new Spectacles, investors are rushing to grab stock in the owner of Snapchat before it goes public next year. But they’re finding little to buy as they scout the typical sources of stock—employees and other investors.Those existing shareholders are rebuffing offers to sell, even... Much like the crowds lining up to buy Snap’s new Spectacles, investors are rushing to grab...

Fitbit CEO James Park. Photo by Bloomberg.

Fitbit To Buy Pebble

By Reed Albergotti and Jessica E. Lessin · Nov 30, 2016 6:33pm PST · 2 comments

Fitbit, the leader in the fitness band market, is near a deal to acquire smartwatch maker Pebble, according to three people briefed on the deal.The price couldn’t be learned but it is thought to be for a small amount. Pebble had been looking to sell, one of the people said. There have been signs over the past year or so that Pebble was... Fitbit, the leader in the fitness band market, is near a deal to acquire smartwatch maker Pebble,...

Google Cloud chief Diane Greene. Photo by Bloomberg.

Google Reorganizing Cloud Sales Team

By Kevin McLaughlin · Nov 28, 2016 7:02am PST · 2 comments

Google is reorganizing its Google Cloud division to combine its sales teams for Google Apps—now called G Suite—and its cloud hosting services, said two people with knowledge of the move. Google Cloud chief Diane Greene is hoping that unifying the structure will reduce costs and help the company close big deals faster to better... Google is reorganizing its Google Cloud division to combine its sales teams for Google...

A DJI "Inspire" drone. Photo by Bloomberg.

To Head Off Slowdown, Drone Leader DJI Targets Businesses

By Amir Efrati · Nov 23, 2016 10:01am PST · 4 comments

A DJI "Inspire" drone. Photo by Bloomberg.

To Head Off Slowdown, Drone Leader DJI Targets Businesses

By Amir Efrati · Nov 23, 2016 10:01am PST · 4 comments

Known as the “Apple of drones,” DJI is flying high this year after mostly clearing the skies of its hardware competitors in the consumer market. But CEO Frank Wang isn’t winding down. He’s pitting teams of DJI engineers and salespeople against each other, with financial consequences for some of the winners and losers,... Known as the “Apple of drones,” DJI is flying high this year after mostly clearing...

Airbnb CEO Brian Chesky. Photo by Bloomberg.

Airbnb Plots Big China Push

By Cory Weinberg · Nov 23, 2016 7:01am PST

Airbnb plans to expand its small Beijing office tenfold to 300 employees over the next two years after years of tiptoeing into the country. The on-the-ground expansion would bolster recent momentum, as Airbnb says by the end of next month it will have doubled its listings year over year in China to 100,000.China accounts for just 3% of total... Airbnb plans to expand its small Beijing office tenfold to 300 employees over the next two years...

HBO CEO Richard Plepler. Photo by Bloomberg.

Amazon Near Deal to Offer HBO Now Through Channels

By Tom Dotan · Nov 18, 2016 12:06pm PST

Amazon.com is near a deal to offer HBO’s streaming service HBO Now through its powerful video subscription selling service, Amazon Channels, according to people familiar with the discussions. A deal would make it easy for Amazon Prime subscribers to sign up for HBO Now and view HBO Now programs through Amazon Prime Video.While HBO Now is... Amazon.com is near a deal to offer HBO’s streaming service HBO Now through its powerful...

AWS Chief Andrew Jassy. Photo by AP.

AWS Planning New Deep Learning for Cloud Service

By Kevin McLaughlin · Nov 17, 2016 1:46pm PST · 4 comments

Amazon Web Services is working on a new cloud service focused on a branch of artificial intelligence called deep learning, said a person with knowledge of the Amazon unit’s plans. The service aims to be an alternative to Google’s wildly popular open source deep learning tools, called TensorFlow, and thereby shore up a rare weak spot... Amazon Web Services is working on a new cloud service focused on a branch of artificial...

Lyft President John Zimmer. Photo by Bloomberg.

When Will Lyft Deliver?

By Amir Efrati · Nov 17, 2016 7:01am PST · 1 comment

Lyft President John Zimmer. Photo by Bloomberg.

When Will Lyft Deliver?

By Amir Efrati · Nov 17, 2016 7:01am PST · 1 comment

Lyft has been developing a package delivery service, similar to an offering from Uber called UberRush, said people with knowledge of the effort. The big question, though, is whether Lyft will launch it.Executives at Lyft have long debated whether to start a delivery service and it’s not clear whether they have made up their minds. Lyft... Lyft has been developing a package delivery service, similar to an offering from Uber called...

Apple executive Jimmy Iovine. Photo by Bloomberg.

Apple Sends Mixed Signals to Hollywood

By Tom Dotan · Nov 16, 2016 7:01am PST · 1 comment

Earlier this year, Apple executives met with representatives for comedian Chris Rock about a potential video deal, according to two people familiar with the discussions. It was just one example of the kind of meetings Apple executives have been having since they announced they would finance original programming for Apple TV a year ago.The... Earlier this year, Apple executives met with representatives for comedian Chris Rock about a...

Airbnb CEO Brian Chesky. Photo by Bloomberg.

Airbnb Tries to Grow by the Beach

By Cory Weinberg · Nov 14, 2016 10:01am PST · 4 comments

Vacasa, a Portland, Oregon-based startup, manages about 4,300 vacation homes around the world in ski towns like Beaver Creek, Colorado, and beachside villages around the Mediterranean Sea. And for the first time next year, the company plans to start listing some of its homes on Airbnb.It’s the sort of business Airbnb needs to win to... Vacasa, a Portland, Oregon-based startup, manages about 4,300 vacation homes around the world in...

Source: Portfolio reports

VC Returns Slid This Year

By Alfred Lee · Nov 14, 2016 7:01am PST · 1 comment

A slowdown in private tech valuations over the past year took a sizeable bite out of venture capital returns, a review of public records show. Many high-profile VC firms, including True Ventures, Union Square Ventures and Foundry Group, saw long-term returns of some funds shrink.Broadly speaking, the data confirms the findings of previously... A slowdown in private tech valuations over the past year took a sizeable bite out of venture...

People waiting for Uber rides at the Consumer Electronics Show this year. Photo by Bloomberg.

Snap Poaches Uber Lawyer

By Amir Efrati · Nov 8, 2016 11:13am PST

People waiting for Uber rides at the Consumer Electronics Show this year. Photo by Bloomberg.

Snap Poaches Uber Lawyer

By Amir Efrati · Nov 8, 2016 11:13am PST

Snap last month hired a top lawyer from Uber, one of three executives who quietly left Uber in the past few months.Katherine Tassi, who was an associate general counsel at Uber in charge of privacy issues, moved from San Francisco to Snap’s headquarters in Venice, Calif., to take on a similar role, reporting to general counsel Chris... Snap last month hired a top lawyer from Uber, one of three executives who quietly left Uber in...

An UberEats delivering takeaway food at a launch event in Japan. Photo by Bloomberg.

Uber’s Second Act Makes Progress, Creates New Dilemmas

By Amir Efrati · Nov 7, 2016 7:00am PST · 3 comments

Now that Uber has largely conquered the ride-sharing market in the U.S., CEO Travis Kalanick is accelerating his long-term plan to challenge Amazon.com in delivering goods to people’s homes. But he has to overcome a key problem: how to expand in delivery of food and other goods without undermining Uber’s core business.Those secondary... Now that Uber has largely conquered the ride-sharing market in the U.S., CEO Travis Kalanick is...

Facebook's VP of messaging products, David Marcus. Photo by Bloomberg.

Facebook Preps Larger Rollout for Messenger Games

By Tom Dotan · Nov 4, 2016 1:54pm PDT · 2 comments

Facebook is preparing to launch a new way to play games on Messenger called “Instant Games,” according to two people briefed on the product. It could roll out as soon as this month, one of these people said.Earlier this year Facebook quietly launched a few games—basketball, soccer and chess games—as experiments. The... Facebook is preparing to launch a new way to play games on Messenger called “Instant...

Snap's co-founders Evan Spiegel and Bobby Murphy. Photo by AP.

Snap’s Founders to Maintain Voting Control after IPO

By Alfred Lee and Tom Dotan · Nov 4, 2016 12:39pm PDT · 1 comment

Snap Inc. has authorized a new class of shares that ensures founders Evan Spiegel and Bobby Murphy will retain control after the company goes public, according to a restated company charter filed in Delaware on Monday.The new class of shares ensures the founders would keep the supervoting rights they already have—a common move for a... Snap Inc. has authorized a new class of shares that ensures founders Evan Spiegel and Bobby...

A professional videogamer at a live championship in South Korea. Photo by Bloomberg.

Facebook Preps Bigger Plunge into E-Sports

By Cory Weinberg · Nov 1, 2016 7:01am PDT

A professional videogamer at a live championship in South Korea. Photo by Bloomberg.

Facebook Preps Bigger Plunge into E-Sports

By Cory Weinberg · Nov 1, 2016 7:01am PDT

Facebook is stepping up plans to broadcast popular e-sports tournaments, in a potential challenge to Twitch and YouTube.Facebook had “extensive conversations” with the developer of popular mobile e-sport “Vainglory” to stream professional competitions, said Kristian Segerstrale, chief operating officer of developer Super... Facebook is stepping up plans to broadcast popular e-sports tournaments, in a potential challenge...

Former Cisco CEO John Chambers. Photo by Bloomberg.

Former Cisco Execs Talk to Microsoft About Startup

By Kevin McLaughlin · Oct 27, 2016 10:21am PDT · 1 comment

Microsoft has talked with four former Cisco Systems engineering executives about backing them in a new networking startup, said a former Cisco employee and another person with knowledge of the matter. The four left Cisco earlier this year after 20 years creating new businesses for the company that now generate billions of dollars in annual... Microsoft has talked with four former Cisco Systems engineering executives about backing them in...

A Snap billboard in San Francisco. Photo by Tom Dotan.

Snap Poaches Engineering Exec from Amazon

By Tom Dotan · Oct 19, 2016 2:30pm PDT · 1 comment

Snap has hired a senior Amazon engineering executive, Jerry Hunter, to help manage the company's engineering teams, according to a person familiar with the matter. Snap confirmed the hiring.Mr. Hunter will serve as a VP of engineering, reporting to Snap engineering chief Tim Sehn. Mr. Hunter has been at Amazon since 2007, most recently as... Snap has hired a senior Amazon engineering executive, Jerry Hunter, to help manage the...

Amazon CEO Jeff Bezos. Photo by Bloomberg.

Amazon Eyes Internet Service Offering

By Amir Efrati and Martin Peers · Oct 18, 2016 7:00am PDT · 1 comment

Amazon.com is considering offering internet service directly to consumers in Europe, said a person briefed on the discussion. That would allow Amazon to bundle internet access with its Prime streaming video offering, the person said, making it more competitive with cable operators which already offer a similar broadband-video package.Amazon is... Amazon.com is considering offering internet service directly to consumers in Europe, said a...

Keith Chen. Photo courtesy of Mr. Chen’s website.

Surge-Price Builder Leaves Uber

By Amir Efrati · Oct 17, 2016 6:58am PDT

Keith Chen. Photo courtesy of Mr. Chen’s website.

Surge-Price Builder Leaves Uber

By Amir Efrati · Oct 17, 2016 6:58am PDT

Few people outside Uber have heard of UCLA economics professor Keith Chen or his research. But Uber riders, drivers and employees have benefited from his improvement to the much-reviled “surge price” algorithm, according to two people who worked with Mr. Chen at Uber. Mr. Chen joined Uber in 2014 from UCLA and began redesigning... Few people outside Uber have heard of UCLA economics professor Keith Chen or his research. But...