The Information

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

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

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

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...

Former Fuze CEO Brian Day. Art by Mike Sullivan

How a Zoom Wannabe Left Employees Empty-Handed

By Mark Matousek and Kate Clark · Feb 28, 2022 6:00am PST · 1 comment

Things were beginning to look grim last year for Fuze, a struggling Zoom Video Communications wannabe. It was running low on cash and facing potentially suffocating loan payments, according to documents viewed by The Information. The company began actively shopping itself to potential acquirers. Inside Fuze, though, the CEO at the time, Brian... Things were beginning to look grim last year for Fuze, a struggling Zoom Video Communications...

Simulation of Meta's Project Nazare augmented reality glasses. Credit: Meta

Meta Platforms Dissolves Team Developing New AR and VR Operating System

By Sylvia Varnham O'Regan · Feb 25, 2022 6:00am PST

Simulation of Meta's Project Nazare augmented reality glasses. Credit: Meta

Meta Platforms Dissolves Team Developing New AR and VR Operating System

By Sylvia Varnham O'Regan · Feb 25, 2022 6:00am PST

Meta Platforms has broken up a group of more than 300 employees working on operating systems for its virtual and augmented reality devices, according to three people with knowledge of the situation. In the process, the company dispersed the team that had been working on a new OS from scratch, code-named XROS, to power the company’s... Meta Platforms has broken up a group of more than 300 employees working on operating systems for...

Screengrab of Jeremy Achin via YouTube. Art by Mike Sullivan

DataRobot, a $6 Billion AI Startup, Fired Executives After Complaints About Sexist Culture

By Kevin McLaughlin · Feb 24, 2022 6:00am PST

When the board of directors at artificial intelligence software startup DataRobot pushed out its CEO last March, they did so partly because the executive, Jeremy Achin, feuded with his sales teams and resisted the idea of taking the company public. But board members also hoped a change would foster a more welcoming environment for women,... When the board of directors at artificial intelligence software startup DataRobot pushed out its...

From left: Li Bin photo from Zhongguancun Rongxin Financial Information Technology Alliance, Screenshot of China's president Xi Jinping via YouTube, Apple CEO Tim Cook photo by Bloomberg. Art by Mike Sullivan

Meet the Investor Bailing Out China’s Chip Industry

By Wayne Ma and Juro Osawa · Feb 22, 2022 6:00am PST

Last month, executives from two Chinese private equity firms hunkered down in a conference room at the Beijing headquarters of Tsinghua Unigroup. Once a star of China’s plan for semiconductor supremacy, Unigroup last year began choking on its own debt, filing for bankruptcy last July, and a government-led group had selected the two firms... Last month, executives from two Chinese private equity firms hunkered down in a conference room...

Daniel Sundheim, founder and chief investment officer of D1 Capital Partners, in 2019. Photo: Bloomberg.

Tiger Global, D1 Capital Signal Pullback From Big Private Tech Deals Amid Market Rout

By Berber Jin · Feb 18, 2022 6:00am PST · 5 comments

Responding to a steep sell-off in technology stocks, some hedge funds and other investment firms with large public stock portfolios have been turning away from investing in the most mature startups, reducing what’s been a crucial source of funding for the better part of two years. Instead they are focusing on buying beaten-down public tech... Responding to a steep sell-off in technology stocks, some hedge funds and other investment firms...

A Hai Robotics machine operating in a warehouse. Credit: Hai Robotics

Sequoia-Backed Chinese Robot Maker Valued at $2 Billion Amid U.S. Expansion

By Juro Osawa · Feb 17, 2022 11:30am PST

A Hai Robotics machine operating in a warehouse. Credit: Hai Robotics

Sequoia-Backed Chinese Robot Maker Valued at $2 Billion Amid U.S. Expansion

By Juro Osawa · Feb 17, 2022 11:30am PST

Venture capitalists are betting Chinese robots can go global. Shenzhen-based Hai Robotics, a maker of robots for warehouses, is close to raising about $170 million from investors at a valuation higher than $2 billion, including the new capital, according to two people familiar with the matter. The previously unreported fundraising comes as the... Venture capitalists are betting Chinese robots can go global. Shenzhen-based Hai Robotics, a...

A Ninebot electric scooter in 2018. Photo by Bloomberg.

How Sequoia’s U.S. Investors Won Big From Segway Owner’s IPO—in Backwater China Market

By Shai Oster · Feb 15, 2022 7:50am PST · 3 comments

U.S.-based investors spent tens of billions of dollars buying shares of private tech companies headquartered in China, such as TikTok owner ByteDance, dronemaker DJI and fashion retailer Shein. But getting the money out has become tougher, now that U.S. stock exchanges are effectively off limits to many of these Chinese companies. But... U.S.-based investors spent tens of billions of dollars buying shares of private tech companies...

Payhawk CEO Hristo Borisov (l), CTO Boyko Karadzhov (center) and CFO Konstantin Djengozov (r). Photo: Business Wire

Lightspeed Leads Deal for Brex Rival Payhawk at $1 Billion Valuation

By Kate Clark · Feb 14, 2022 3:15pm PST

Lightspeed Venture Partners is leading an investment of $100 million in London-based corporate card startup Payhawk, according to two people familiar with the matter. The deal values the startup, founded in 2018, at $1 billion including the new money, the people said. The new capital gives Payhawk ammunition to expand to the U.S., where it will... Lightspeed Venture Partners is leading an investment of $100 million in London-based corporate...

Art by Mike Sullivan

TikTok Wants to Avoid Facebook’s Mess. Its Corporate Culture Could Complicate That

By Sarah Krouse and Jessica Toonkel · Feb 14, 2022 6:00am PST

Two years ago, a team of TikTok employees in China—where the hit video-sharing app’s parent company, ByteDance, is based—were excited to show their colleagues in the U.S. a preview of some new features they’d been working on. But the Americans were troubled when they saw one of them, which would let TikTok users darken or... Two years ago, a team of TikTok employees in China—where the hit video-sharing app’s...

Photo by AP

Tom Brady’s Media Company Looks to Raise $50 Million as Demand for Sports Content Surges

By Jessica Toonkel · Feb 11, 2022 10:23am PST

Photo by AP

Tom Brady’s Media Company Looks to Raise $50 Million as Demand for Sports Content Surges

By Jessica Toonkel · Feb 11, 2022 10:23am PST

Superstar quarterback Tom Brady is freshly retired from football, but he’s got plenty else to keep him busy. His production company, Religion of Sports, is looking to raise around $50 million, according to people familiar with the situation. Such a deal would value the four-year-old company, co-founded by Brady, former NFL star Michael... Superstar quarterback Tom Brady is freshly retired from football, but he’s got plenty else...

From left, Alibaba co-founder Trudy Dai, CEO Daniel Zhang, and co-founder Jack Ma. Photos by AP; Bloomberg. Art by Mike Sullivan

Jack Ma’s Alibaba Heir Faces Growing Doubts

By Juro Osawa · Feb 11, 2022 6:00am PST · 1 comment

Alibaba and its CEO, Daniel Zhang, face what could be a year of reckoning. The share price of the company, sometimes referred to as the Chinese equivalent of Amazon, plummeted over the past year under the onslaught of aggressive regulators and competitors it had overlooked, eroding morale. And chatter in the cafeteria of Alibaba’s... Alibaba and its CEO, Daniel Zhang, face what could be a year of reckoning. The share price of the...

Apple ad announcing new privacy options for blocking mobile ad tracking.

Ad Tech Startup Branch Raises $300 Million as Sector Survives Apple Crackdown

By Sarah Krouse · Feb 10, 2022 6:00am PST

When Apple launched a sweeping iPhone privacy change last year, it spelled trouble for the entire online ad industry, including companies that help advertisers and app developers measure whether mobile ads prompted consumers to make purchases. Facebook owner Meta Platforms and other ad sellers took a hit, but the intermediaries that measure... When Apple launched a sweeping iPhone privacy change last year, it spelled trouble for the entire...

Illustration by Jesus Escudero

From TikTok to Twitch, Employees Juggle Conflicts While Moonlighting as Influencers

By Kaya Yurieff · Feb 9, 2022 6:00am PST

When Jenna Palek applied for a sales position at TikTok in the spring of 2020, she did something creative to help her get hired: She posted a 58-second clip of herself on the short video–sharing app highlighting her qualifications while performing dance moves popularized on TikTok. It worked. Palek nabbed the job after the video went... When Jenna Palek applied for a sales position at TikTok in the spring of 2020, she did something...

Photo by Bloomberg

Uber and Its Delivery Rivals Reveal Closely Guarded Data to Antitrust Investigators

By Josh Sisco · Feb 7, 2022 6:00am PST

Photo by Bloomberg

Uber and Its Delivery Rivals Reveal Closely Guarded Data to Antitrust Investigators

By Josh Sisco · Feb 7, 2022 6:00am PST

Last October, Uber completed its $1.1 billion purchase of alcohol-delivery startup Drizly and began integrating the business into its Uber Eats food-delivery operation. But the Federal Trade Commission isn’t done reviewing the acquisition. A team of FTC lawyers in New York is scrutinizing the deal as part of a broader probe of whether Uber... Last October, Uber completed its $1.1 billion purchase of alcohol-delivery startup Drizly and...