Lyft Grows Sales 3%, Narrows Net Loss
The company’s sales growth is a sharp slowdown from the last quarter.
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Datadog Shares Drop 20% as Customers Cut Spending
Datadog has been one of the highest-flying cloud stocks in recent years but now some customers are spending more cautiously than in the past.
Allbirds Sales Continue to Slump
The direct-to-consumer footwear brand has seen declining sales for the past three quarters.
ESPN Strikes Sports-Betting Deal with Penn Entertainment Worth Over $1.5 Billion
Casino operator Penn Entertainment has struck a 10-year, $1.5 billion deal with ESPN to launch a new sportsbook. It's also selling Barstool Sports back to its founder.
Rubrik Acquires Startup Laminar in Pre-IPO Cybersecurity Push
Rubrik started out a decade ago as a company that could help customers manage their data, but its pitch is now just as focused on cybersecurity.
Digital Media Firm Puck Raises More Than $10 Million
The new funding brings Puck's total funding to more than $17 million. It will be used to hire editorial and business staff.
More Banks Face Hefty Fines for Employees’ Encrypted Messaging
Wells Fargo had by far the biggest penalty Tuesday, at $125 million, among the actions the SEC brought against 10 firms.
Design App Canva Valued at $25.5 Billion in Secondary Market
The $25.5 billion valuation is about 36% lower than the $40 billion valuation in Canva's most recent equity funding round in 2021.
Musk’s Neuralink Raises $280 Million
The brain computer interface startup is working on technology to help restore sight and mobility.
Paramount’s Streaming Revenues Up 40% as TV Business Continues Decline
Paramount+ added 700,000 subscribers in the second quarter. TV advertising revenues, however, dropped 10% year over year for Paramount Global.
PayPal Launches Stablecoin
The stablecoin will be issued by the crypto payments company Paxos, which previously was under regulatory scrutiny for its ties to Binance.
Quora, Rho, Nuro Signal Wave of Down Rounds
A handful of startups have made moves to raise money at slashed valuations, a sign that private startups are starting to catch up to the correction in public stocks.
SoftBank Sues Messaging App IRL, Alleging Falsified Data
It's the latest case of an investor taking the rare move of suing a startup it backed.
Musk Offers to Pay Legal Bills for Users Who Face Workplace Retaliation
Musk has successfully won suits brought over his Twitter activity and sued his opponents.
Twitch Streamer Charged After Give-Away Event Turns Chaotic
Kai Cenat had told fans on a live stream he would be giving away computers and game consoles.
Virtual Events Startup Run the World Sells to EventMobi
Run The World, a virtual events startup that competed with Hopin, plans to sell to EventMobi, an event management software company.
Coinbase Moves to Dismiss SEC Lawsuit
The SEC has alleged that Coinbase operates as an unregistered securities exchange, broker and clearinghouse.
Revolut to Halt U.S. Crypto Services Due to Regulatory Climate
The decision only affects 1% of the company’s crypto customers and crypto services will still be available to users outside of the U.S.
Cash App Drives Block Revenue Growth
Block benefited from increasing adoption of its Cash App debit card and quick deposit service.
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.
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