The Information

Art by Mike Sullivan

The New York Times and The Athletic End Acquisition Talks

By Sahil Patel · Jun 17, 2021 3:07pm PDT · 1 comment

The New York Times and subscription sports news site The Athletic have ended their acquisition talks, according to people familiar with the matter. The demise of the deal—which would have united one of media’s best known legacy brands with a respected up-and-comer—came down to money. The people familiar with the matter said the... The New York Times and subscription sports news site The Athletic have ended their acquisition...

Photo of Jonah Peretti by Bloomberg. Illustration by Mike Sullivan

Inside Jonah Peretti’s Rollup Playbook

By Jessica Toonkel and Sahil Patel · Jun 17, 2021 6:01am PDT · 1 comment

In 2018, BuzzFeed CEO Jonah Peretti issued a cri de coeur to the digital media industry, telling his fellow moguls that all of them, BuzzFeed included, needed to start merging so they could more effectively stand up to Google and Facebook, the internet’s advertising powerhouses. But then a funny thing happened: Peretti went dark on the... In 2018, BuzzFeed CEO Jonah Peretti issued a cri de coeur to the digital media industry, telling...

Art: Mike Sullivan

Google’s Next AI Move: Teaching Foreign Languages

By Sarah Krouse · Jun 16, 2021 9:01am PDT

Google CEO Sundar Pichai last month previewed an artificial intelligence model that he said would enable people to have open-ended conversations with technology. But current and former employees who have worked with the language model say enabling coherent, free-flowing and accurate dialogue between humans and technology remains a tall order. As... Google CEO Sundar Pichai last month previewed an artificial intelligence model that he said would...

Photos provided by Amazon

Amazon’s Airplanes Move Cargo for U.S. Postal Service

By Paris Martineau · Jun 15, 2021 8:00am PDT

Photos provided by Amazon

Amazon’s Airplanes Move Cargo for U.S. Postal Service

By Paris Martineau · Jun 15, 2021 8:00am PDT

Over the past several years, Amazon has dramatically expanded its fleet of aircraft to help it ship Amazon orders to customers faster. The growth has been so dramatic that it has fueled speculation Amazon would eventually begin flying cargo from other companies, not just Amazon packages, on its jets, whose tail fins are emblazoned with its... Over the past several years, Amazon has dramatically expanded its fleet of aircraft to help it...

SoftBank CEO Masayoshi Son, left, and Nvidia CEO Jensen Huang. Photos by Bloomberg; AP

Nvidia’s $40 Billion Takeover of Arm Faces New Foe: European Vacations

By Josh Sisco · Jun 15, 2021 6:00am PDT

Nine months after Nvidia, the second-most valuable microchip developer in the world, announced its $40 billion takeover of SoftBank-owned chip designer Arm Holdings, the companies are facing delays in submitting the deal for approval by the European Union’s antitrust regulator, according to three people involved in the process. The... Nine months after Nvidia, the second-most valuable microchip developer in the world, announced...

BuzzFeed CEO Jonah Peretti. Photo by Bloomberg.

BuzzFeed To Raise $200 Million in Bonds As SPAC Deal Nears

By Jessica Toonkel, Martin Peers and Sahil Patel · Jun 10, 2021 11:09am PDT

BuzzFeed is in discussions to raise about $200 million in convertible bonds to supplement cash it will raise by merging with a special purpose acquisition company, say people familiar with the situation. The financing will help BuzzFeed fund the acquisition of digital lifestyle publisher Complex Networks, which is being negotiated at an equity... BuzzFeed is in discussions to raise about $200 million in convertible bonds to supplement cash it...

SoftBank CEO Masayoshi Son. Photo by Bloomberg.

SoftBank Ramps Up Software Bets With $1.3 Billion Tungee Talks

By Yunan Zhang, Juro Osawa and Shai Oster · Jun 9, 2021 10:03am PDT

SoftBank is ramping up its software bets—as aggressively as ever. The investment firm is in talks to invest in Chinese software as a service firm Tungee at a $1.3 billion valuation, even as a group of other venture capitalists are investing in the firm at a $1 billion valuation, two people with knowledge of the fundraising discussions... SoftBank is ramping up its software bets—as aggressively as ever. The investment firm is in...

Locomation trucks on the test track at the Transportation Research Center in East Liberty, Ohio. Credit: Locomation

Two More Self-Driving-Truck Developers Consider Public Offerings

By Amir Efrati · Jun 9, 2021 6:01am PDT · 1 comment

Locomation trucks on the test track at the Transportation Research Center in East Liberty, Ohio. Credit: Locomation

Two More Self-Driving-Truck Developers Consider Public Offerings

By Amir Efrati · Jun 9, 2021 6:01am PDT · 1 comment

Embark Trucks and Locomation, both of which develop self-driving semitrailers to haul freight over long distances, have recently discussed going public, including by merging with a shell company known as a special purpose acquisition vehicle, according to two people with knowledge of the situation. The talks follow the successful public offering... Embark Trucks and Locomation, both of which develop self-driving semitrailers to haul freight...

Monitors display Coinbase and Bitcoin signage at the Nasdaq in NYC. Photo by Bloomberg

Crypto Lender BlockFi in Talks to Raise Funding at $5 Billion Valuation

By Kate Clark · Jun 8, 2021 11:14am PDT

BlockFi, a wealth management and trading firm for cryptocurrency holders, is raising new funding just three months after its last round. It's the latest sign that VC interest in cryptocurrency, supercharged by Coinbase’s direct listing two months ago, is overriding a recent steep retreat in crypto prices. The four-year-old startup is... BlockFi, a wealth management and trading firm for cryptocurrency holders, is raising new funding...

A supervisor holds checks an employee's badge during roll call at a Pegatron factory in Shanghai. Photo by Bloomberg

Some Apple Suppliers in China Tell Ethnic Minorities: Don’t Bother Applying For Jobs

By Wayne Ma · Jun 8, 2021 6:01am PDT

Some of the companies in China that supply Apple with parts for its devices are willing to use workers from the predominantly Muslim group known as Uyghurs, as part of government-sponsored labor programs widely criticized as coercive. But Uyghurs and other marginalized Chinese minorities need not apply for jobs on the open market to many of... Some of the companies in China that supply Apple with parts for its devices are willing to use...

Disney CEO Bob Chapek. Photo by Bloomberg

Disney’s Cancellation of Hulu Overseas Push Triggers Feud with Comcast

By Jessica Toonkel · Jun 7, 2021 12:39pm PDT

Tensions between Disney and Comcast over their joint ownership of Hulu are heating up. The two companies are feuding over Disney’s decision last year to not launch Hulu overseas, a move that Comcast believes undermined its growth potential and valuation. The issue has inflamed arbitration proceedings now underway between the two companies... Tensions between Disney and Comcast over their joint ownership of Hulu are heating up. The two...

Javier Soltero, general manager of Google Workspace, speaks during an online-only Google developer conference in May. Photo by Bloomberg

Google Responds to Remote Work Boom, Microsoft With Workspace App Improvements

By Sarah Krouse · Jun 7, 2021 6:01am PDT · 1 comment

Javier Soltero, general manager of Google Workspace, speaks during an online-only Google developer conference in May. Photo by Bloomberg

Google Responds to Remote Work Boom, Microsoft With Workspace App Improvements

By Sarah Krouse · Jun 7, 2021 6:01am PDT · 1 comment

Like other companies, Google had never seen anything like the demand for its video-calling and other productivity tools until the pandemic, which suddenly turned a big chunk of the population into remote workers. The surge also helped Google staffers figure out some issues with those same products. To address those limitations, Google is... Like other companies, Google had never seen anything like the demand for its video-calling and...

Jony Ive in 2019. Photo by AP

Ex-Apple Design Boss Jony Ive Recruited at Least Five Former Colleagues to New Firm

By Wayne Ma and Sarah Krouse · Jun 3, 2021 11:58am PDT · 1 comment

Wan Si, a 16-year veteran of Apple’s famed design team who worked on numerous Apple app icons, buttons and home screens, recently joined the consulting firm founded by Apple’s former design chief Jonathan Ive, The Information has learned. She is one of at least five Apple design team members Ive has recruited to his firm since... Wan Si, a 16-year veteran of Apple’s famed design team who worked on numerous Apple app...

Shoppers in front of the Tesla showroom at a shopping plaza in Shanghai, China, in March. Photo by Bloomberg.

Tesla’s China Orders Halved in May, Internal Data Show, As Crisis Deepens

By Juro Osawa · Jun 3, 2021 10:42am PDT · 3 comments

Tesla vehicle orders in China fell by nearly half in May compared to April, according to internal data, as the electric car pioneer grappled with public outcry and government criticism over its handling of consumer complaints. Taken together, the developments put in doubt Tesla’s vaunted position and success in the world’s biggest... Tesla vehicle orders in China fell by nearly half in May compared to April, according to internal...

Racks housing GPUs mine the Ethereum and Zilliqa cryptocurrencies at the Evobits crypto farm in Cluj-Napoca, Romania. Photo by Bloomberg

Union Square Ventures Values Crypto Publishing Tool Mirror at $100 Million

By Kate Clark · Jun 1, 2021 4:09pm PDT · 2 comments

Union Square Ventures, an early backer of the cryptocurrency exchange Coinbase, has invested in crypto publishing tool Mirror.xyz at a $100 million valuation, according to two people with direct knowledge of the funding. The one-year-old startup has raised at least $10 million across two recent seed financings from investors including USV and... Union Square Ventures, an early backer of the cryptocurrency exchange Coinbase, has invested in...

SoftBank-Backed Katerra to Shut Down

By Cory Weinberg · Jun 1, 2021 11:35am PDT · 2 comments

SoftBank-Backed Katerra to Shut Down

By Cory Weinberg · Jun 1, 2021 11:35am PDT · 2 comments

Construction startup Katerra has told employees it plans to shut down, people familiar with the matter said, marking the collapse of the SoftBank-backed company that had raised more than $2 billion to slash the cost of building apartments. Katerra is expected to let go of thousands of employees and is likely to walk away from dozens of... Construction startup Katerra has told employees it plans to shut down, people familiar with the...

Marne Levine, left, and Sheryl Sandberg. Photos by Bloomberg

Facebook’s Marne Levine is Top Internal Candidate for Chief Business Officer Role

By Sylvia Varnham O'Regan · Jun 1, 2021 10:57am PDT

Facebook executive Marne Levine, who is vice president of global partnerships, has emerged as the leading internal candidate to fill the company’s newly formed chief business officer role, according to a person familiar with the matter. If appointed, Levine will have the job of maintaining Facebook’s rapid advertising growth while... Facebook executive Marne Levine, who is vice president of global partnerships, has emerged as the...

Incoming Amazon CEO Andy Jassy. Photos by Bloomberg. Art by Mike Sullivan.

How Amazon’s Jassy Is Already Warming Up for CEO Job

By Nick Wingfield and Kevin McLaughlin · Jun 1, 2021 6:00am PDT · 1 comment

Last week, Amazon’s Jeff Bezos finally revealed when he’ll pass the CEO baton to his hand-picked successor, Andy Jassy: July 5. But Jassy has spent months getting ready for the moment. Since Amazon announced the change in February, Jassy has begun quietly pitching in on efforts that would normally fall to Bezos, even though Jassy is... Last week, Amazon’s Jeff Bezos finally revealed when he’ll pass the CEO baton to his...

A Boeing 777X airplane at Boeing Field in Seattle. Photo by Bloomberg

Amazon, Microsoft and Google Pursue $1 Billion Cloud Deal With Boeing

By Amir Efrati and Kevin McLaughlin · May 27, 2021 6:01am PDT · 3 comments

The biggest cloud computing companies—Amazon, Microsoft and Google—often pull out all the stops to land long-term contracts with marquee corporate customers. The latest prize all three are pursuing, according to four people with knowledge of the matter, is a multiyear deal to provide cloud services to aerospace giant Boeing. Amazon,... The biggest cloud computing companies—Amazon, Microsoft and Google—often pull out all...

Opera Chairman & CEO Yahui Zhou and Executive Vice President Jiwei Wu ring a gong as Opera begins trading at the Nasdaq in 2018. Photo by AP

China-Backed African Payment Startup OPay Raising $400 Million to Fuel Expansion

By Juro Osawa · May 26, 2021 7:28am PDT

Opera Chairman & CEO Yahui Zhou and Executive Vice President Jiwei Wu ring a gong as Opera begins trading at the Nasdaq in 2018. Photo by AP

China-Backed African Payment Startup OPay Raising $400 Million to Fuel Expansion

By Juro Osawa · May 26, 2021 7:28am PDT

OPay, an African digital payment upstart founded by the Chinese tech billionaire who once owned Grindr, is in talks with investors to raise as much as $400 million at a valuation of more than $1.5 billion, three times its most recent valuation, two people familiar with the matter said. A bigger war chest could help accelerate the app’s... OPay, an African digital payment upstart founded by the Chinese tech billionaire who once owned...