The Information

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TikTok Inks U.S. Warehouse Partnerships in Bid to Rival Amazon and Temu

By Ann Gehan and Theo Wayt · Jun 23, 2023 11:45am PDT · 4 comments

TikTok has signed logistics deals to ensure that the products people buy on its app arrive smoothly at their front doors—a key part of the video app’s efforts to transform itself into a shopping destination. It’s currently testing the fulfillment services with U.S. sellers, a person familiar with the matter said. TikTok is... TikTok has signed logistics deals to ensure that the products people buy on its app arrive...

Google CEO Sundar Pichai in May. Photo by Getty Images

AI Boomerang: Google’s Internal Critic Returns From Rival OpenAI

By Jon Victor and Amir Efrati · Jun 23, 2023 9:15am PDT · 4 comments

Jacob Devlin, a prominent artificial intelligence researcher who left Google for rival OpenAI in January after complaining internally about how the company trained its Bard AI chatbot software, has returned to his old job, according to a person with knowledge of the situation. Google’s willingness to hire Devlin back, despite the fact his... Jacob Devlin, a prominent artificial intelligence researcher who left Google for rival OpenAI in...

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In Battle of Ransomware Protectors, One Firm Burns a Lot of Cash, Another Preps an IPO

By Maria Heeter, Anissa Gardizy and Kate Clark · Jun 23, 2023 6:00am PDT

Four years ago, one of the most intense battles in enterprise software was underway between two startups led by former colleagues: Rubrik and Cohesity. They help businesses manage data, and they also market themselves as offering protection against ransomware attacks. At the time, Rubrik was clearly in the lead, but Cohesity was growing faster... Four years ago, one of the most intense battles in enterprise software was underway between two...

Reddit CEO Steve Huffman. Photo by Getty

Reddit Sales Growth Slowdown Preceded Fight Over New API Fees

By Cory Weinberg · Jun 22, 2023 2:26pm PDT

Reddit CEO Steve Huffman. Photo by Getty

Reddit Sales Growth Slowdown Preceded Fight Over New API Fees

By Cory Weinberg · Jun 22, 2023 2:26pm PDT

A stark business reality faced Reddit before a user uprising engulfed its site this month: slowing sales growth. Reddit’s revenue rose 38% in 2022 to about $670 million last year, two people familiar with the matter said, faster than many other internet ad firms but a steep slowdown from the more than doubling of revenue the company... A stark business reality faced Reddit before a user uprising engulfed its site this month:...

V. Pappas. Photo by Getty.

TikTok’s COO Pappas to Quit

By Kaya Yurieff · Jun 22, 2023 10:17am PDT

TikTok's Chief Operating Officer V. Pappas has quit, Pappas told staff on Thursday, according to an email viewed by The Information. At the same time, TikTok CEO Shou Zi Chew announced the elevation of chief of staff Adam Presser to be head of operations, while also revealing that former Disney executive Zenia Mucha will join in a new role... TikTok's Chief Operating Officer V. Pappas has quit, Pappas told staff on Thursday, according...

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How Meta Stumbled In Quest for Chip Independence

By Sylvia Varnham O'Regan and Wayne Ma · Jun 22, 2023 6:00am PDT · 8 comments

Meta Platforms executives always knew this moment would come. Apple’s unveiling of its Vision Pro mixed reality headset early this month puts the spotlight on the looming battle between Apple and Meta over control of the augmented reality and virtual reality market. And for the past five years, Meta has readied itself for the competition... Meta Platforms executives always knew this moment would come. Apple’s unveiling of its...

From left: Bret Taylor, Peter Fenton and Clay Bavor. Photo: Getty

Ex-Salesforce Chief Bret Taylor’s AI Startup Raises Money From Sequoia, Benchmark

By Kate Clark · Jun 21, 2023 4:02pm PDT · 5 comments

Benchmark has led the first round of funding for a three-month-old artificial intelligence startup founded by former Salesforce co-CEO Bret Taylor and ex-Google executive Clay Bavor at a valuation of over $100 million, according to a person with direct knowledge of the deal. Taylor and Bavor’s company raised at least $20 million in the... Benchmark has led the first round of funding for a three-month-old artificial intelligence...

OpenAI CEO Sam Altman. Photo by Getty

OpenAI Considers Creating an App Store for AI Software

By Aaron Holmes and Jon Victor · Jun 20, 2023 6:00am PDT · 11 comments

OpenAI CEO Sam Altman. Photo by Getty

OpenAI Considers Creating an App Store for AI Software

By Aaron Holmes and Jon Victor · Jun 20, 2023 6:00am PDT · 11 comments

OpenAI—an early mover in releasing chatbots powered by large-language models—is contemplating another initiative to extend its influence in the world of artificial intelligence. The company is considering launching a marketplace in which customers could sell AI models they customize for their own needs to other businesses, according... OpenAI—an early mover in releasing chatbots powered by large-language models—is...

Meta Platforms CEO Mark Zuckerberg. Photo by Getty

Meta Wants Companies to Make Money Off Its Open-Source AI, in Challenge to Google

By Sylvia Varnham O'Regan, Jon Victor and Amir Efrati · Jun 15, 2023 2:24pm PDT · 9 comments

Meta Platforms CEO Mark Zuckerberg and his deputies want other companies to freely use and profit from new artificial intelligence software Meta is developing, a decision that could have big implications for other AI developers and businesses that are increasingly adopting it. Meta is working on ways to make the next version of its open-source... Meta Platforms CEO Mark Zuckerberg and his deputies want other companies to freely use and profit...

Healthcare workers at an SSM Health hospital—a former CareRev client—in Oklahoma City in 2020. Photo by Getty Images

CareRev Plans to Cut Roughly a Third of Staff

By Paris Martineau · Jun 15, 2023 1:10pm PDT · 1 comment

CareRev, a healthcare startup that raised around $100 million from investors during the pandemic, is in the process of laying off nearly 100 employees—or about a third of its corporate workforce—according to one person with direct knowledge of the plans and another who was briefed on them. The cuts follow the departure of CareRev... CareRev, a healthcare startup that raised around $100 million from investors during the pandemic,...

LinkedIn CEO Ryan Roslansky. Photo by AP

LinkedIn Plans Streaming Video Ad Push

By Sahil Patel · Jun 15, 2023 6:00am PDT · 1 comment

Major advertisers and nearly every big TV network have jumped into the market for ads on video-streaming services. Now LinkedIn, the social network for professionals, is trying to get in on the act as well. The Microsoft-owned business is about to start testing an ad product that will allow marketers to target LinkedIn users when they’re... Major advertisers and nearly every big TV network have jumped into the market for ads on...

Art by Shutterstock, Mike Sullivan

Why YouTube Could Give Google an Edge in AI

By Jon Victor · Jun 14, 2023 6:00am PDT

Art by Shutterstock, Mike Sullivan

Why YouTube Could Give Google an Edge in AI

By Jon Victor · Jun 14, 2023 6:00am PDT

Google last month upgraded its Bard chatbot with a new machine-learning model that can better understand conversational language and compete with OpenAI’s ChatGPT. As Google develops a sequel to that model, it may hold a trump card: YouTube. The video site, which Google owns, is the single biggest and richest source of imagery, audio and... Google last month upgraded its Bard chatbot with a new machine-learning model that can better...

Outgoing Cloudera CEO Rob Bearden. Photo via Cloudera

Cloudera CEO to Depart

By Anissa Gardizy · Jun 13, 2023 5:42pm PDT · 1 comment

Rob Bearden, the CEO of Cloudera, told employees in a virtual town hall meeting on Tuesday that he is stepping down, according to someone with direct knowledge. Bearden said in the meeting that it was his decision to leave the company, and that he had not been fired or forced to leave, the person said. His departure comes two years after the... Rob Bearden, the CEO of Cloudera, told employees in a virtual town hall meeting on Tuesday that...

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AWS Cuts Ties With Fast-Rising Cloud-Sales Partner

By Anissa Gardizy · Jun 13, 2023 10:19am PDT · 1 comment

Amazon Web Services has suddenly cut ties with a key firm that earns commissions for bringing new customers to AWS, according to people with direct knowledge of the situation. The firm, Philadelphia-based Triumph Tech, was among a select number of “premier tier” partners, AWS’s highest designation for partners. The reason for... Amazon Web Services has suddenly cut ties with a key firm that earns commissions for bringing new...

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Why Shopify Ditched Its Amazon-Like Delivery Dreams

By Theo Wayt and Ann Gehan · Jun 13, 2023 9:32am PDT · 2 comments

When Shopify last month announced the sale of its delivery operation, it was an abrupt reversal of a strategy to compete with Amazon it had spent four years and billions of dollars developing. Just six months earlier, for instance, top Shopify executives dismissed suggestions from logistics leaders that they scale back their investment to reduce... When Shopify last month announced the sale of its delivery operation, it was an abrupt reversal...

Illustration by Laurent Hrybyk

A Reckoning Arrives for Creator Economy Startups

By Kaya Yurieff · Jun 13, 2023 6:09am PDT · 4 comments

Illustration by Laurent Hrybyk

A Reckoning Arrives for Creator Economy Startups

By Kaya Yurieff · Jun 13, 2023 6:09am PDT · 4 comments

Two years ago, Dmitry Shapiro and Sean Thielen were so optimistic about the booming creator economy that they pivoted their startup to a new product: a simple tool called Koji that lets influencers more easily link to their online tip jars, merch and other services in their social media bios. Sure, there were already dozens of other startups... Two years ago, Dmitry Shapiro and Sean Thielen were so optimistic about the booming creator...

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TCV Raised 50% to 75% Less Than Planned For New Venture Fund

By Natasha Mascarenhas and Kate Clark · Jun 12, 2023 6:23pm PDT · 5 comments

TCV, a 28-year-old mainstay of the venture capital industry, has raised 50% to 75% less capital for its next flagship fund for private investments than the $5.5 billion target it set last year, according to new securities filings and a document compiled by one of TCV’s limited partners. The filing doesn’t clarify whether TCV is... TCV, a 28-year-old mainstay of the venture capital industry, has raised 50% to 75% less capital...

Elon Musk. Photo by Bloomberg

After Elon Musk Bashes Sacramento Data Centers, Tesla Gets One

By Erin Woo and Becky Peterson · Jun 12, 2023 3:38pm PDT · 1 comment

Last December, in a live event on Twitter, Elon Musk called Sacramento “possibly the worst place to have a data center,” complaining about the hot temperatures of California’s inland capital, where Twitter’s data centers once went down because a heat wave overwhelmed their equipment. Musk seems to have gotten comfortable... Last December, in a live event on Twitter, Elon Musk called Sacramento “possibly the worst...

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U.S. Investors Are Bailing Out of China Funds

By Juro Osawa · Jun 12, 2023 6:00am PDT · 5 comments

Sequoia Capital’s decision this week to split off its China operations showed the impact of growing tensions between Washington and Beijing. But the political conflict has sparked a bigger and more important change: Suddenly, American capital has stopped flowing to Chinese venture capital and private equity funds en masse. The University... Sequoia Capital’s decision this week to split off its China operations showed the impact of...

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Sumo Logic Cuts Staff After Francisco Partners Takeover

By Paris Martineau and Maria Heeter · Jun 10, 2023 7:30am PDT · 8 comments

Photo by David Paul Morris/Bloomberg via Getty Images

Sumo Logic Cuts Staff After Francisco Partners Takeover

By Paris Martineau and Maria Heeter · Jun 10, 2023 7:30am PDT · 8 comments

Data analytics software company Sumo Logic made widespread layoffs this week, according to people familiar with the matter and an email to staff viewed by The Information, less than a month after private equity firm Francisco Partners bought the company for $1.7 billion. The exact size of the cuts couldn’t be learned. Chief Executive Joe... Data analytics software company Sumo Logic made widespread layoffs this week, according to people...