The Information

Producers of Group Nine's short film "Two Distant Strangers" at the Oscars. Photo by AP.

How Vice, Vox and BuzzFeed Are Cashing In on the Streaming Boom

By Sahil Patel · Jul 27, 2021 9:01am PDT · 3 comments

“Land of the Giants” is a podcast series from Vox Media’s Recode covering the history of tech companies including Amazon and Netflix. It will soon be a TV show, made by Vox for a major cable network for a fee of several millions of dollars, according to people familiar with the matter. Digital media firms which have long... “Land of the Giants” is a podcast series from Vox Media’s Recode covering the...

Zhang Lei (left) and Neil Shen. Photos by Bloomberg; AP

Sequoia Capital vs. Hillhouse: Inside China’s Fiercest Investor Rivalry

By Juro Osawa and Shai Oster · Jul 27, 2021 6:01am PDT

Last fall, Sequoia Capital China, the Silicon Valley VC firm’s affiliate led by investor Neil Shen, pledged to invest $400 million in a new funding round for Full Truck Alliance, China’s “Uber for trucks.” Days later, Zhang Lei, the rival head of private-equity giant Hillhouse Capital Group, flew to Nanjing, met Full... Last fall, Sequoia Capital China, the Silicon Valley VC firm’s affiliate led by investor...

Photo by Bloomberg.

China Tutoring Ban Hits ByteDance, Puts Tencent’s $3 Billion Stake in Danger

By Juro Osawa, Wayne Ma and Shai Oster · Jul 26, 2021 6:45am PDT

TikTok-owner ByteDance had made big plans for online education, hiring around 10,000 employees to tap a $100 billion market. China’s sudden ban of for-profit tutoring in school curriculum may have scuppered those plans. Some ByteDance employees who work on the company’s tutoring apps are already asking around for other job... TikTok-owner ByteDance had made big plans for online education, hiring around 10,000 employees to...

The Robotics Startup That Got Away (From Amazon)

By Mark Di Stefano · Jul 22, 2021 10:28am PDT · 3 comments

The Robotics Startup That Got Away (From Amazon)

By Mark Di Stefano · Jul 22, 2021 10:28am PDT · 3 comments

When Jeff Bezos attended a private robotics and artificial intelligence event in Palm Springs, Calif., in 2018, one presentation in particular caught the attention of the Amazon founder. It was a demonstration conducted by a frizzy-haired University of California, Berkeley, professor named Ken Goldberg, showing off a robot that could deftly pick... When Jeff Bezos attended a private robotics and artificial intelligence event in Palm Springs,...

Amazon streaming chief Mike Hopkins. Photos: AP; MGM

Mike Hopkins Wants to Make Amazon a Hollywood Powerhouse. MGM is Just the Start.

By Jessica Toonkel · Jul 22, 2021 6:01am PDT

Mike Hopkins had barely gotten his Amazon employee badge when Prime Video, the streaming service he oversaw for the internet retailer, had a possible crisis on its hands. Months after Hopkins joined Amazon in February 2020, one of the largest media and entertainment companies, WarnerMedia, started hinting it would no longer sell its television... Mike Hopkins had barely gotten his Amazon employee badge when Prime Video, the streaming service...

Robinhood’s Biggest IPO Winners

By Kate Clark · Jul 21, 2021 6:00am PDT · 4 comments

When Robinhood was raising its early funding rounds, co-founder Baiju Bhatt kept a journal. In it were pages filled with the names of over 100 investors, most of them accompanied by an “X” mark to indicate they had passed on the investment, said an early investor who saw the journal. Those who were less skeptical of a commission-free... When Robinhood was raising its early funding rounds, co-founder Baiju Bhatt kept a journal. In it...

Bolt CEO Ryan Breslow. Photo: Bolt

Online Checkout Startup Bolt Valued at $4 Billion

By Kate Clark and Malique Morris · Jul 20, 2021 3:22pm PDT · 5 comments

Bolt, a San Francisco-based startup that offers software for online shopping, is raising $333 million in Series D funding at a post-investment valuation of $4 billion, nearly five times its valuation in December, according to three people familiar with the matter. London-based venture firm Hedosophia is leading the round, said one of the people.... Bolt, a San Francisco-based startup that offers software for online shopping, is raising $333...

Vice CEO Nancy Dubuc. Photo: Bloomberg

Vice Media’s SPAC Talks Stall

By Jessica Toonkel · Jul 20, 2021 11:07am PDT

Vice CEO Nancy Dubuc. Photo: Bloomberg

Vice Media’s SPAC Talks Stall

By Jessica Toonkel · Jul 20, 2021 11:07am PDT

Vice Media’s plan to go public by merging with a special purpose acquisition company has stalled as the company struggles to raise additional financing for the deal amid questions about Vice’s valuation, according to people familiar with the situation. In early discussions with SPACs such as one backed by 7GC & Co, Vice was... Vice Media’s plan to go public by merging with a special purpose acquisition company has...

The People With Power at Disney’s Media Distribution Group

By Jessica Toonkel and Wayne Ma · Jul 20, 2021 6:00am PDT

Hulu, one of the pioneers of video streaming, has become a training ground for the entire industry as key executives flock to newer rival services. And that raises potential challenges for Disney’s own streaming ambitions. Since Walt Disney Co. took control of Hulu two years ago, a slew of key Hulu executives in engineering, marketing and... Hulu, one of the pioneers of video streaming, has become a training ground for the entire...

A screenshot via YouTube from an Amazon video about employee Covid-19 testing.

Amazon to Stop Covid Testing in U.S. Warehouses

By Mark Di Stefano · Jul 19, 2021 2:20pm PDT · 1 comment

Amazon on Monday told employees that it will soon stop on-site Covid testing for its legions of warehouse workers, despite a surge of cases in parts of the United States. The company told employees in a note circulated to them through an internal company app that it will discontinue Covid-19 testing for them after July 30, according to an image... Amazon on Monday told employees that it will soon stop on-site Covid testing for its legions of...

Carta CEO Henry Ward. Photo: Carta.

Silver Lake to Lead New Carta Funding at $7.4 Billion Valuation

By Cory Weinberg and Berber Jin · Jul 16, 2021 10:38am PDT

Carta is finalizing a round of funding led by new investor Silver Lake Partners that would value the financial software startup at $7.4 billion including the new capital, roughly where secondary market investors valued it in February, two people familiar with the matter said. The funding, expected to be $500 million to $600 million, would nearly... Carta is finalizing a round of funding led by new investor Silver Lake Partners that would value...

Illustration: Mike Sullivan

AirPods Are a Huge Hit With Consumers—and Counterfeiters

By Wayne Ma · Jul 16, 2021 6:14am PDT

Illustration: Mike Sullivan

AirPods Are a Huge Hit With Consumers—and Counterfeiters

By Wayne Ma · Jul 16, 2021 6:14am PDT

U.S. Customs officials are seizing record numbers of counterfeit wireless headphones amid a surge in the popularity of Apple’s easy-to-copy AirPods. Roughly 360,000 counterfeit wireless headphones with a retail value of $62.2 million were confiscated in the first nine months of the U.S. government’s fiscal year, which starts in... U.S. Customs officials are seizing record numbers of counterfeit wireless headphones amid a surge...

Gorillas CEO Kağan Sümer. Photo provided by Gorillas

Gorilla Warfare in Europe’s Startup Scene

By Mark Di Stefano and Cory Weinberg · Jul 15, 2021 6:01am PDT

Last year, Kağan Sümer blasted out of nowhere with a startup called Gorillas that had an audacious vision: to kill the grocery store. The Berlin-based grocery-delivery company surpassed a $1 billion valuation a year after it was founded, a nearly unheard-of rate of ascent for a startup in Europe, where a string of other scrappy delivery... Last year, Kağan Sümer blasted out of nowhere with a startup called Gorillas that had an...

Hong Kong's Exchange Square complex which houses the Hong Kong stock exchange. Photo by Bloomberg

China’s Kujiale, Lalamove Suspend U.S. Listing Plans, Search for Alternatives

By Juro Osawa and Shai Oster · Jul 14, 2021 10:27am PDT · 1 comment

As China’s tech startups shelve plans to go public in the U.S. due to Beijing’s cybersecurity crackdown, one question is whether they will pursue initial public offerings in Hong Kong instead. But Hong Kong listings may be challenging for tech companies in industries such as software as a service, autonomous vehicles and ride... As China’s tech startups shelve plans to go public in the U.S. due to Beijing’s...

Illustration: Jesus Escudero

Startups Turn to Wall Street to Broker VC Deals

By Kate Clark · Jul 14, 2021 6:00am PDT

For years, startups turned to Wall Street bankers either in the best of times—when they were big enough to go public—or the worst, such as when they needed to find a buyer. Now they are paying for investment bank services for a function that’s much more routine: raising early-stage venture capital. More startups are bringing on... For years, startups turned to Wall Street bankers either in the best of times—when they...

Photo by Bloomberg

Amazon Acquires Facebook’s Satellite Internet Group

By Sarah Krouse and Sylvia Varnham O'Regan · Jul 13, 2021 1:18pm PDT · 1 comment

Photo by Bloomberg

Amazon Acquires Facebook’s Satellite Internet Group

By Sarah Krouse and Sylvia Varnham O'Regan · Jul 13, 2021 1:18pm PDT · 1 comment

Amazon has acquired a team of more than a dozen wireless internet experts from Facebook in an effort to boost its multibillion-dollar effort to launch thousands of satellites and offer broadband service in the U.S. and abroad, a Facebook spokesperson confirmed. The Facebook employees moved to Amazon in April to help the company develop its... Amazon has acquired a team of more than a dozen wireless internet experts from Facebook in an...

LeBron James. Photo by Bloomberg.

LeBron James’ Entertainment Firm Explores Sale at Valuation of Up to $750 Million

By Jessica Toonkel and Sahil Patel · Jul 13, 2021 12:05pm PDT

NBA superstar LeBron James’ entertainment firm, SpringHill Company, is exploring a possible sale at a valuation that could reach $750 million, according to people familiar with the situation. Among the companies said to be considering an offer is Nike, the people said. The sale discussions highlight growing interest in independent... NBA superstar LeBron James’ entertainment firm, SpringHill Company, is exploring a possible...

AWS CEO Adam Selipsky. Photo by Bloomberg

AWS’ New CEO Faces a Fresh Challenge: Bureaucracy

By Kevin McLaughlin · Jul 12, 2021 6:00am PDT · 1 comment

When Adam Selipsky left Amazon Web Services in 2016 to become CEO of Tableau Software, he brought with him a handful of Amazon management traditions. For example, he discouraged Tableau colleagues from doing PowerPoint presentations, instead asking them to write multipage narrative documents about new projects, a hallmark of Amazon management. ... When Adam Selipsky left Amazon Web Services in 2016 to become CEO of Tableau Software, he brought...

MGM's headquarters in Beverly Hills. Photo by Bloomberg.

FTC Opens Probe of Amazon’s MGM Purchase, Signaling a Lengthy Inquiry

By Josh Sisco · Jul 9, 2021 2:31pm PDT

Any hopes that Amazon had of completing its $8.5 billion purchase of movie and TV studio MGM anytime soon may have just gone out the window. The Federal Trade Commission on Friday opened an in-depth investigation into the deal, according to people familiar with the matter, setting the stage for a lengthy probe that could last six months or more.... Any hopes that Amazon had of completing its $8.5 billion purchase of movie and TV studio MGM...

NFL commissioner Roger Goodell. Photo by Bloomberg

Apple in Early Talks With NFL on Sunday Ticket Games

By Sahil Patel · Jul 9, 2021 8:58am PDT · 1 comment

NFL commissioner Roger Goodell. Photo by Bloomberg

Apple in Early Talks With NFL on Sunday Ticket Games

By Sahil Patel · Jul 9, 2021 8:58am PDT · 1 comment

Apple has expressed interest in the streaming rights for a package of National Football League games the NFL is now auctioning, said people familiar with the situation, a possible sign the tech giant is looking to beef up the audience for its Apple TV+ streaming service. The iPhone maker is one of a number of companies, including TV networks and... Apple has expressed interest in the streaming rights for a package of National Football League...