The Information

Neil Shen, head of Sequoia China, in 2013. Photo: Fortune via Flickr

Sequoia Capital’s China Arm Seeks $8 Billion in New Funds, Defying Tech Rout

By Juro Osawa · Mar 25, 2022 7:00am PDT · 1 comment

The Chinese affiliate of Sequoia Capital, whose vast portfolio includes TikTok owner ByteDance and online fashion startup Shein, is in early talks with U.S.-based and other institutional investors to raise more than $8 billion across four new funds, according to three people familiar with the matter. It is trying to pull off one of the biggest... The Chinese affiliate of Sequoia Capital, whose vast portfolio includes TikTok owner ByteDance...

Ben Silbermann, co-founder and CEO of Pinterest. Photo by Bloomberg; Art by Mike Sullivan

Indecision at Pinterest

By Jessica Toonkel · Mar 25, 2022 6:00am PDT · 2 comments

Last fall, executives at Pinterest were inching toward an agreement to acquire Verishop, an online shopping platform that Pinterest had been negotiating with for at least two months, according to two people familiar with the situation. The deal could have helped the internet scrapbooking service accelerate its belated commerce efforts. But the... Last fall, executives at Pinterest were inching toward an agreement to acquire Verishop, an...

Fidji Simo, chief executive officer of Instacart Inc.

Instacart to Open Gopuff-Like Warehouses for 15-Minute Delivery

By Berber Jin · Mar 23, 2022 12:24pm PDT · 1 comment

Instacart plans to launch a 15-minute–delivery service for grocery retailers including Publix as early as next month, said a person with direct knowledge of the matter. For the initiative, Instacart would operate its own network of warehouses, which it calls nano-fulfillment centers, that supermarket chains could use to store their... Instacart plans to launch a 15-minute–delivery service for grocery retailers including...

A photo of Worldcoin operators and the orb device in Chile. Photo: Worldcoin.

Andreessen Horowitz, Khosla Back Worldcoin in Deal Valuing Tokens at $3 Billion

By Kate Clark and Berber Jin · Mar 22, 2022 3:30pm PDT · 3 comments

A photo of Worldcoin operators and the orb device in Chile. Photo: Worldcoin.

Andreessen Horowitz, Khosla Back Worldcoin in Deal Valuing Tokens at $3 Billion

By Kate Clark and Berber Jin · Mar 22, 2022 3:30pm PDT · 3 comments

Worldcoin, the cryptocurrency startup co-founded by former Y Combinator president Sam Altman, is raising $100 million from investors including Andreessen Horowitz, a previous backer, and Khosla Ventures through the sale of its Worldcoin tokens, according to two people with direct knowledge of the matter. The new investment values the total... Worldcoin, the cryptocurrency startup co-founded by former Y Combinator president Sam Altman, is...

Illustration by Josh Brill.

The Amazon Rollup Model Starts to Show Strain

By Mark Di Stefano · Mar 21, 2022 6:01am PDT · 1 comment

It was not long ago that Factory14, a Luxembourg-based startup focused on buying small firms that sell directly to consumers on Amazon and other online marketplaces, was flying high. The company came out of stealth mode in May with a $200 million war chest in equity and debt and announced its first acquisition: U.K.-based Pro Bike Tool, a seller... It was not long ago that Factory14, a Luxembourg-based startup focused on buying small firms that...

Photo by AP.

Tech Executives Threatened With Jail Time Under Proposed U.K. Law

By Mark Di Stefano and Sylvia Varnham O'Regan · Mar 16, 2022 12:32pm PDT · 6 comments

Executives from Facebook parent Meta Platforms, TikTok and other big tech companies would face the prospect of jail time under sweeping new legislation proposed by the U.K. government that aims to curb illegal and harmful internet content. Under the Online Safety Bill, to be introduced on Thursday, tech executives may face criminal... Executives from Facebook parent Meta Platforms, TikTok and other big tech companies would face...

Google co-founder Sergey Brin wearing Google Glass, the company's failed consumer smart glasses, a decade ago.

Google Buys Hardware Startup Raxium to Fuel AR Ambitions

By Josh Sisco, Stephen Nellis, Mathew Olson and Sarah Krouse · Mar 16, 2022 11:30am PDT · 1 comment

Google has struck a deal to buy Raxium, a five-year-old startup that develops tiny light-emitting diodes for displays used in augmented and mixed reality devices, according to people familiar with the deal. The acquisition, which has not been previously reported, is a sign that Google wants to own more of the physical components needed to... Google has struck a deal to buy Raxium, a five-year-old startup that develops tiny light-emitting...

From left: Apple's Tim Cook, Erik Neuenschwander, Craig Federighi, Eddy Cue and Phil Schiller. Photos by Bloomberg. Art by Mike Sullivan

Inside Apple’s Decision to Blow Up the Digital Ads Business

By Wayne Ma · Mar 14, 2022 6:00am PDT · 7 comments

From left: Apple's Tim Cook, Erik Neuenschwander, Craig Federighi, Eddy Cue and Phil Schiller. Photos by Bloomberg. Art by Mike Sullivan

Inside Apple’s Decision to Blow Up the Digital Ads Business

By Wayne Ma · Mar 14, 2022 6:00am PDT · 7 comments

For years, Apple CEO Tim Cook has been the most vocal privacy champion among all of big tech’s top leaders. But within Apple, a decision to curtail ad tracking of iPhone users in 2020 sparked an intense debate about just how far to push privacy changes poised to upend the digital advertising industry. On one side of the discussions... For years, Apple CEO Tim Cook has been the most vocal privacy champion among all of big...

Workers from Instacart, the same-day grocery delivery service, receive instructions at a grocery store. Photo by AP.

Fidelity, T. Rowe Mark Down Instacart Stake by Up to 18%

By Berber Jin · Mar 11, 2022 1:59pm PST · 1 comment

Some large investors in Instacart have marked down the value of their stakes in the privately held grocery-delivery company by as much as 18% since it raised funds a year ago at a $39 billion post-investment valuation, previously unreported figures show. The moves indicate that the recent sell-off in technology stocks may be starting to affect... Some large investors in Instacart have marked down the value of their stakes in the privately...

From left to right, Bessemer partners Jeremy Levine, Talia Goldberg, Ethan Kurzweil and Charles Birnbaum. Photo credit: Jerry Yoon.

Venture Firm Bessemer Creates DAO, Earmarks $250 Million for Crypto Deals

By Kate Clark · Mar 10, 2022 11:09am PST

Venture capitalists’ efforts to earn the respect of sought-after cryptocurrency entrepreneurs have reached a new peak: The biggest firms are now starting decentralized autonomous organizations, communities that pool cryptocurrency tokens and vote collectively on the group’s activities. Bessemer Venture Partners is one of the first to... Venture capitalists’ efforts to earn the respect of sought-after cryptocurrency...

Disney CEO Bob Chapek. Photo by AP

Bob Chapek is Finally Pushing Disney Out of its Comfort Zone

By Jessica Toonkel · Mar 9, 2022 6:00am PST

Bob Iger only left the building at Walt Disney Co.’s headquarters at the end of December, and his successor as CEO, Bob Chapek, is already doing things differently. In the months since Iger’s departure, Chapek has developed plans to launch a cheaper ad-supported version of its flagship Disney+ streaming service and has explored... Bob Iger only left the building at Walt Disney Co.’s headquarters at the end of December,...

Love co-founders Ashwath Rajan, Ryan Breslow and JR Rahn. Photo by Julian Buitrago

Bolt’s Breslow Teams With Psychedelics Founder on Crypto Pharma Startup

By Kate Clark · Mar 8, 2022 11:40am PST · 1 comment

Love co-founders Ashwath Rajan, Ryan Breslow and JR Rahn. Photo by Julian Buitrago

Bolt’s Breslow Teams With Psychedelics Founder on Crypto Pharma Startup

By Kate Clark · Mar 8, 2022 11:40am PST · 1 comment

Bolt co-founder Ryan Breslow, who stepped down as the e-commerce software startup’s CEO after publishing a Twitter rant aimed at powerful Silicon Valley institutions, is taking another stab at startup leadership. This time he’s planning to develop drugs initially based on nutraceuticals, food-derived substances that have health... Bolt co-founder Ryan Breslow, who stepped down as the e-commerce software startup’s CEO...

Jack Ma, controlling shareholder of Ant Group, in 2019. Photo by Bloomberg.

Jack Ma’s Ant Group Delays IPO as Beijing’s Tech Crackdown Goes On

By Juro Osawa · Mar 8, 2022 6:00am PST · 3 comments

When Chinese regulators canceled Ant Group’s $37 billion initial public offering in late 2020, the question was how long the financial services behemoth, which was then valued on paper at more than $300 billion, would stay in regulatory purgatory. The answer remains elusive: Bankers who last fall talked to the Chinese company about a... When Chinese regulators canceled Ant Group’s $37 billion initial public offering in late...

Tiger Global founder Chase Coleman III. Photo: Bloomberg. Illustration: Mike Sullivan

Tiger Global Partners Commit $1 Billion for Early-Stage Tech Funds

By Berber Jin · Mar 7, 2022 3:26pm PST · 1 comment

Tiger Global Management, the world’s most active startup investor last year, is trying a new way to get the inside track. Partners at the firm, known for its big bets in companies including Coinbase and Roblox, have committed $1 billion of their own cash to invest in seed funds that focus on backing the youngest startups, said a person... Tiger Global Management, the world’s most active startup investor last year, is trying a...

From left, Alphabet and Google CEO Sundar Pichai, Mandiant CEO Kevin Mandia, and Microsoft CEO Satya Nadella. Photos by Bloomberg

Google in Talks to Buy Mandiant, a $4.5 Billion Cybersecurity Firm

By Josh Sisco and Kevin McLaughlin · Mar 7, 2022 12:39pm PST

Google is in talks to buy cybersecurity consultancy Mandiant, which two years ago discovered the infamous SolarWinds hack, according to a person with knowledge of the discussion. A deal could bolster Google’s cloud computing business, which generates more than $19 billion annually but has been losing billions of dollars a year, and help it... Google is in talks to buy cybersecurity consultancy Mandiant, which two years ago discovered the...

How Google Is Preparing for the End of Internet Advertising (as We Know It)

By Sarah Krouse · Mar 4, 2022 6:00am PST · 6 comments

How Google Is Preparing for the End of Internet Advertising (as We Know It)

By Sarah Krouse · Mar 4, 2022 6:00am PST · 6 comments

In 2020, when Apple announced plans for sweeping privacy changes to its mobile phones, Meta Platforms—the parent of Facebook and one of the advertising powerhouses most likely to feel the pain of the changes—duked it out with Apple for days on Twitter and in full-page newspaper ads. Another internet ad giant, Google, barely made a... In 2020, when Apple announced plans for sweeping privacy changes to its mobile phones, Meta...

Disney CEO Bob Chapek. Photo by Bloomberg.

Disney Discusses Launching Ad-Supported Tier of Disney+ in U.S.

By Jessica Toonkel · Mar 3, 2022 12:58pm PST

Disney is discussing launching a cheaper, ad-supported tier of its Disney+ streaming service in the U.S., according to a person involved in the discussions. The entertainment giant seeks to hit its goal of profitability for its direct-to-consumer business in 2024, and the move could fire up slowing subscriber growth for the service. Disney would... Disney is discussing launching a cheaper, ad-supported tier of its Disney+ streaming service in...

One World Trade Center in New York. Hyperscience plans to move into a top floor of the building. Photo by Bloomberg

Automation Firm Hyperscience Slashes Staff, Loses CEO as Startups Face Growing Pressure

By Kate Clark · Mar 3, 2022 11:50am PST

In December, automation-software startup Hyperscience said it raised $100 million in venture capital from Tiger Global Management, Bessemer Venture Partners and other firms at a post-investment valuation of $1.65 billion. Then last week, less than three months later, a harsh reality set in: The eight-year-old company laid off 100 workers, or 25%... In December, automation-software startup Hyperscience said it raised $100 million in venture...

Photo by Bloomberg.

Sony in Talks to Buy ‘American Idol’ Production Company

By Jessica Toonkel · Mar 2, 2022 1:20pm PST · 1 comment

Industrial Media, the production company behind ABC’s “American Idol” and TLC’s “90 Day Fiancé,” is exploring a sale and Sony Pictures has expressed interest, according to two people familiar with the situation. A deal could value the production company at as much as $300 million, the people said.... Industrial Media, the production company behind ABC’s “American Idol” and...

FTC Chair Lina Khan. Credit: New America/Flickr

FTC Preparing Challenge to Amazon’s $8.5 Billion MGM Purchase

By Josh Sisco and Jessica Toonkel · Feb 28, 2022 4:43pm PST · 1 comment

FTC Chair Lina Khan. Credit: New America/Flickr

FTC Preparing Challenge to Amazon’s $8.5 Billion MGM Purchase

By Josh Sisco and Jessica Toonkel · Feb 28, 2022 4:43pm PST · 1 comment

The Federal Trade Commission is gearing up for a potential antitrust lawsuit challenging Amazon’s $8.5 billion takeover of MGM Studios by exploring actions including hiring expert witnesses to appear in an eventual trial, according to people familiar with the situation. The agency expects to decide whether to bring the case in the... The Federal Trade Commission is gearing up for a potential antitrust lawsuit challenging...