The Information

An address sign for Facebook Way is shown in Menlo Park, Calif. Photo: Associated Press

Facebook to Let Managers, More Staff Work Remotely After Pandemic

By Alex Heath and Nick Bastone · Oct 5, 2020 6:02am PDT

Facebook is expanding its permanent work from home policy, moving it closer to CEO Mark Zuckerberg’s prediction that half his workforce will be working remotely within a decade. The company, which has more than 52,000 full-time employees, in recent weeks has started allowing a significant portion of its managers and other employees to... Facebook is expanding its permanent work from home policy, moving it closer to CEO Mark...

Tribe Capital partner Arjun Sethi. Photo provided by Arjun Sethi

Tribe Capital Plans Challenge to AngelList

By Zoë Bernard · Oct 2, 2020 1:56pm PDT · 2 comments

For years, venture firms have given pension funds, family offices and others who put money into their funds ways to invest more directly in the firms’ startups. Now, one well-connected VC firm in Silicon Valley has a plan to let a wider group of investors do the same. Tribe Capital, a $360 million venture fund founded by a trio... For years, venture firms have given pension funds, family offices and others who put money into...

Lyft's driver hub in San Francisco. Photo by Bloomberg

Lyft Talked to Bosch About Self-Driving Car Partnership, Investment

By Amir Efrati · Oct 2, 2020 12:36pm PDT

Lyft has had talks over the past year about joining forces on self-driving–car development with German automotive system manufacturer Bosch, according to two people with direct knowledge of the discussions. Lyft also has considered selling a stake in its self-driving–car unit to a player such as Bosch, said the two people.... Lyft has had talks over the past year about joining forces on self-driving–car development...

Illustration by J. Claeys

A Housing Startup Angered Tenants. Now It’s Not Paying Landlords

By Cory Weinberg and Anissa Gardizy · Sep 30, 2020 9:01am PDT · 1 comment

Illustration by J. Claeys

A Housing Startup Angered Tenants. Now It’s Not Paying Landlords

By Cory Weinberg and Anissa Gardizy · Sep 30, 2020 9:01am PDT · 1 comment

Bungalow Living, a richly valued startup that rents and manages shared living spaces, has warned some of its landlords in recent days that it doesn’t intend to pay rent next month. In emails, the company cited rental market declines in major cities as a reason to break its deals. “Our ability to pay going forward is in serious... Bungalow Living, a richly valued startup that rents and manages shared living spaces, has warned...

Illustration by Scotty Reifsynder

Austin Emerges as a Hot Spot for Silicon Valley Investors

By Kate Clark · Sep 30, 2020 6:01am PDT · 5 comments

Austin’s startup scene is getting a jolt of new capital, this time from a wave of investors transplanted from Silicon Valley. Since March, Sapphire Ventures, Draper Associates, 8VC and Breyer Capital have either opened an Austin office, hired a local partner or are considering an outpost there. Austin’s lack of a state income tax,... Austin’s startup scene is getting a jolt of new capital, this time from a wave of investors...

Uber CEO Dara Khosrowshahi. Photo by Bloomberg; illustration by Mike Sullivan

Infighting, ‘Busywork,’ Missed Warnings: How Uber Wasted $2.5 Billion on Self-Driving Cars

By Amir Efrati · Sep 28, 2020 6:02am PDT · 6 comments

After five years and an investment of around $2.5 billion, Uber’s effort to build a self-driving car has produced this: a car that can’t drive more than half a mile without encountering a problem. “The car doesn’t drive well” and “struggles with simple routes and simple maneuvers,” said a manager in the... After five years and an investment of around $2.5 billion, Uber’s effort to build a...

Facebook's head of Messenger, Stan Chudnovsky. Photo courtesy of Facebook.

Facebook Opens New Fight With Apple Over Messaging

By Alex Heath · Sep 25, 2020 8:02am PDT

Facebook executives have sharply ramped up their criticism of Apple in recent months, contesting the iPhone maker’s restrictions on gaming apps and ad targeting, as well as its cut of in-app purchases. Now, emboldened by Apple software changes that suggest it is starting to bend, Facebook wants something else: the option to make its... Facebook executives have sharply ramped up their criticism of Apple in recent months, contesting...

Microsoft headquarters in Redmond, Washington. Photo by Shutterstock.

Microsoft’s Changes to Business Software Terms Could Lift Its Cloud Service and Hurt AWS, Google

By Kevin McLaughlin and Amir Efrati · Sep 25, 2020 6:01am PDT · 1 comment

Microsoft headquarters in Redmond, Washington. Photo by Shutterstock.

Microsoft’s Changes to Business Software Terms Could Lift Its Cloud Service and Hurt AWS, Google

By Kevin McLaughlin and Amir Efrati · Sep 25, 2020 6:01am PDT · 1 comment

A change Microsoft made late last year to the terms of service for Microsoft 365, its cloud-based software that includes Word, PowerPoint and Outlook, could drive some companies that use Amazon Web Services and Google Cloud to Microsoft’s Azure cloud service, analysts said.Under the new terms, which Microsoft disclosed in August last year... A change Microsoft made late last year to the terms of service for Microsoft 365, its cloud-based...

Viacom CEO Bob Bakish. Photo by Bloomberg

ViacomCBS Probed Sexual Misconduct Allegation Against CEO Bob Bakish

By Jessica Toonkel · Sep 24, 2020 10:47am PDT

ViacomCBS has been investigating an allegation of sexual misconduct by its CEO, Bob Bakish, according to several people familiar with the situation. The investigation comes less than a year after Viacom merged with CBS, whose former CEO Les Moonves resigned after several women accused him of sexual harassment and intimidation, including forcibly... ViacomCBS has been investigating an allegation of sexual misconduct by its CEO, Bob Bakish,...

Amazon's Staten Island, N.Y. warehouse. Photo by Bloomberg

Amazon Quietly Expands Large-Scale Covid Testing Program for Warehouses

By Paris Martineau · Sep 24, 2020 6:00am PDT · 1 comment

After months of trials, Amazon’s program to test its warehouse workers for Covid-19 is ramping up.The e-commerce giant is now testing warehouse workers in at least 23 states for Covid using its own federally certified laboratories to process samples, The Information has learned. It’s part of a secretive Amazon initiative called... After months of trials, Amazon’s program to test its warehouse workers for Covid-19 is...

Better.com founder Vishal Garg. Image: Better.com

Better.com Seeks to Ride Refinancing Wave to a $4 Billion Valuation

By Cory Weinberg · Sep 23, 2020 12:31pm PDT

Low interest rates have prompted a record number of Americans to refinance their homes this spring. An online mortgage loan startup that has seen strong growth from the borrowing surge is now seeking new financing at a sharply higher valuation than at its last influx of cash a year ago.Better.com is nearing a deal to raise more than $100 million... Low interest rates have prompted a record number of Americans to refinance their homes this...

Oracle headquarters. Credit: Bloomberg

Is Oracle Biting Off More TikTok Than It Can Chew?

By Alex Heath · Sep 22, 2020 8:30pm PDT · 3 comments

Oracle headquarters. Credit: Bloomberg

Is Oracle Biting Off More TikTok Than It Can Chew?

By Alex Heath · Sep 22, 2020 8:30pm PDT · 3 comments

New details about a way Oracle envisions managing TikTok user data and rewriting the app, and how TikTok’s technology actually operates, underscore how hard it could be for Oracle to separate the app from its Chinese owner.At the same time, Oracle has held preliminary discussions with the U.K. government about protecting TikTok’s... New details about a way Oracle envisions managing TikTok user data and rewriting the app, and how...

Illustration by Mike Sullivan

In Ironic Twist, Google’s Pro-Privacy Move Boosted U.S. Antitrust Probe

By Nick Bastone · Sep 18, 2020 6:01am PDT

Google has taken a lot of heat for violating people’s privacy. Now it could get in trouble for trying to protect it.When Google in January said it planned to follow Apple’s lead in increasing privacy protections by blocking most online advertising trackers, publishers of news and entertainment websites whose business relies on the... Google has taken a lot of heat for violating people’s privacy. Now it could get in trouble...

Tourists in Amsterdam. Photo: AP

Airbnb Opponents Take Fight to SEC Ahead of IPO

By Cory Weinberg · Sep 17, 2020 6:02am PDT

Dozens of affordable housing groups and community organizations that have long accused Airbnb of exacerbating housing shortages are taking their grievances to U.S. financial regulators just as the short-term rental giant prepares to go public.In a letter to the U.S. Securities and Exchange Commission viewed by The Information, the groups... Dozens of affordable housing groups and community organizations that have long accused Airbnb of...

Photo by Imaginechina via AP Images

ByteDance Rival Kuaishou Seeks $50 Billion Valuation in Hong Kong IPO

By Yunan Zhang and Juro Osawa · Sep 16, 2020 8:50pm PDT · 1 comment

Chinese online video startup Kuaishou, TikTok owner ByteDance’s biggest domestic rival, is seeking an initial public offering in Hong Kong as early as this year, according to people familiar with the matter. Kuaishou, which was valued at $28 billion in its most recent funding round last year, is aiming for a valuation of $50 billion... Chinese online video startup Kuaishou, TikTok owner ByteDance’s biggest domestic rival, is...

Larry Ellison discussing Oracle Cloud on stage in 2016. Photo by Bloomberg

With TikTok Deal, Oracle Could Gain Billion-Dollar Cloud Customer

By Amir Efrati · Sep 16, 2020 6:00am PDT

Larry Ellison discussing Oracle Cloud on stage in 2016. Photo by Bloomberg

With TikTok Deal, Oracle Could Gain Billion-Dollar Cloud Customer

By Amir Efrati · Sep 16, 2020 6:00am PDT

Oracle’s deal to act as TikTok’s new “trusted technology partner” could be worth more than $1 billion in potential revenue annually for Oracle’s cloud business in the coming years, according to previously undisclosed data viewed by The Information.Revenue from housing TikTok’s data on Oracle’s servers... Oracle’s deal to act as TikTok’s new “trusted technology partner” could...

Zoom CEO Eric Yuan. Photo by AP

Zoom Invests in Big Messaging Upgrade in Challenge to Slack

By Kevin McLaughlin · Sep 15, 2020 12:04pm PDT · 3 comments

Zoom Video Communications became a household name with a video conferencing service that has become a ubiquitous tool for businesses and students during the pandemic. Now Zoom is looking to seriously up its game in another important area: messaging. Zoom has been quietly working on a major upgrade to the messaging functions inside its video... Zoom Video Communications became a household name with a video conferencing service that has...

Photo by Bloomberg

Alibaba Eyes Stake in Online Jobs Classifieds Company Zhaopin

By Juro Osawa · Sep 15, 2020 3:53am PDT

Chinese e-commerce giant Alibaba Group is in talks to invest hundreds of millions of dollars in Zhaopin, one of China’s biggest recruitment sites, people familiar with the matter said. Alibaba, whose online marketplaces serve as a platform for millions of Chinese businesses, also operates China’s biggest cloud computing services... Chinese e-commerce giant Alibaba Group is in talks to invest hundreds of millions of dollars in...

Photo: AP

Co-Living Startup HubHaus Plans to Shut Down

By Cory Weinberg · Sep 11, 2020 11:24am PDT · 1 comment

Executives at HubHaus, a venture capital–backed startup that manages shared homes, are taking steps to shut down the company after struggling to attract tenants and raise venture capital, three people familiar with the matter said. HubHaus has unsuccessfully shopped itself to a potential buyer in recent weeks, and also sought... Executives at HubHaus, a venture capital–backed startup that manages shared homes, are...

Roam Research co-founder Joshua Brown (l), co-founder and CEO Conor White-Sullivan, and Victoria Ledford, head of operations. Photo credit: Roam Research

A $200 Million Seed Valuation for Roam Shows Investor Frenzy for Note-Taking Apps

By Kate Clark · Sep 11, 2020 6:02am PDT · 7 comments

Roam Research co-founder Joshua Brown (l), co-founder and CEO Conor White-Sullivan, and Victoria Ledford, head of operations. Photo credit: Roam Research

A $200 Million Seed Valuation for Roam Shows Investor Frenzy for Note-Taking Apps

By Kate Clark · Sep 11, 2020 6:02am PDT · 7 comments

The shift to remote work has buoyed the valuations of several startups making productivity tools. The latest is Roam Research, which has raised $9 million at a valuation of $200 million, or about 25 times higher than the median valuation for seed rounds. Roam is tapping more than a dozen individuals and firms for the round, including Stripe... The shift to remote work has buoyed the valuations of several startups making productivity tools....