Lending Startups Seek Buyers as Rate Hikes Hobble Growth
Venture-backed consumer lending startups are starting to fold their cards.
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Recent Editions
Yieldstreet Nears a Deal to Buy Real Estate Tech Startup Cadre
Deal would be the latest sign of merger and acquisition activity among troubled startups as founders accept that valuations are not likely to recover.
Amazon Devices Chief to Step Down
Amazon's devices division had wide losses in recent years and was hit hard by layoffs in late 2022.
BuzzFeed Revenue Dropped 27% in Q2, Forecasts Similar Outlook for Q3
BuzzFeed, which is actively shopping Complex Networks assets for sale, also burned through $10 million in cash in the second quarter.
PayPal Appoints Intuit Executive as Next CEO
Alex Chriss oversees Intuit’s QuickBooks and Mailchimp products.
Activist Investor Legion Partners Looks for OneSpan to Sell
OneSpan has posted lackluster revenue growth for the past two years
CoinDesk Lays off 45% of Editorial Staff As it Nears Deal
CoinDesk is close to a $125 million deal to sell a stake in the company to an investor group led by Matthew Roszak of Tally Capital, according to a report.
Alphabet CFO Ruth Porat Lobbied CEO Pichai for New Role in February
Porat will become Alphabet's president and chief investment officer, effective Sept. 1.
Better.com Set to Go Public
The mortgage lender’s SPAC merger had been repeatedly delayed over the past two years.
Sam Bankman-Fried to Be Jailed Until Trial After Judge Revokes Bail
Prosecutors asked the judge to jail Bankman-Fried after they said he shared personal writings of Caroline Ellison with the New York Times.
Cruise, Waymo Can Expand Driverless Taxi Service in San Francisco
California officials gave the companies permission to operate 24/7 in the city.
State Regulators Approve Expanded Robotaxi Service in San Francisco
A vote by state regulators gave Cruise and Waymo the green light to offer paid robotaxi rides at all hours.
Chinese Internet Giants Order $5 Billion Worth of Nvidia AI Chips
Chinese firms including TikTok owner ByteDance are rushing to buy more Nvidia chips amid concerns that the U.S. may impose additional export restrictions.
X CEO Linda Yaccarino: Twitter “Pretty Close to Breakeven” As Some Advertisers Return, But No Specifics
Many advertisers that have resumed buying ads on X this year are not spending at prior levels.
Amazon Cuts Some of Its Own Clothing and Furniture Brands
The company said it plans to focus on its most popular private brands, like Amazon Basics and Amazon Essentials.
Alibaba’s Net Profit Rises 51% as China E-Commerce Business Recovers
The e-commerce giant is trying to regain momentum after a challenging 2022 when severe Covid lockdowns dealt a blow to China's economy.
In RTO Push, Amazon Tells Some Employees to Relocate or Leave
Employees must notify their manager of their decision by Sept. 15.
Biden Issues Order to Limit U.S. Investments in China’s Tech Sector
The details of the new restrictions remain unclear, leaving room for further discussions and potential legislation.
Google, Universal Music in Talks Over AI Licensing Deal
Google is seeking to develop product that would let users generate new songs using AI.
SEC Says it Will Appeal Parts of Ripple Ruling
The SEC said it would also motion to pause further proceedings in the district court after it files its appeal.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
By providing your email, you agree to The Information’s Privacy Policy