Fintech Startup Airwallex’s Valuation Flat at $5.5 Billion in New Fundraising
The fundraising comes after the stock market's turmoil and a global economic slowdown that have caused many tech unicorns' valuations to drop.
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U.K. Spy Chief Warns About China’s Use of Technology
The U.S. and its allies are increasingly alarmed by China's use of surveillance tools and other technologies around the world.
Patreon’s Valuation Dropped 70%
The creator subscription startup is reportedly postponing any IPO plans to preserve cash
Getir in Talks to Buy Gorillas
Fundraising for instant delivery firms has become difficult, forcing firms to try and partner with others to amass scale and cut costs.
U.S. Announces New Restrictions on Chip Technology Exports to China
Washington is taking a more drastic step amid concerns that U.S. technology could aid China's aggressive efforts to develop its domestic chip industry.
OpenSea CFO Departs After 10 Months
OpenSea's former vice president of business development has also the NFT marketplace.
Binance Discloses $570 Million Hack of BNB Blockchain
It’s one of the largest hacks in a year that has seen more than $1.9 billion stolen through crypto exploits.
TSMC Reports Better-Than-Expected Revenue Despite Chip Industry’s Slowdown
The world's largest contract chip maker, whose key clients include Apple, saw solid demand even as other chip makers grappled with weaker orders.
Amazon Halts Tests of Scout Delivery Robot
Amazon has halted work on a semi-autonomous delivery robot called Scout.
Judge Puts Trial on Hold for Twitter and Musk
Twitter and Musk have until October 28 to close the deal or face trial in November.
Arctic Wolf Raises $401 Million in Convertible Debt
Investors have peppered startups with convertible debt pitches in recent months
TikTok Unveils Photo Feature as Instagram Rivalry Heats Up
TikTok’s photo mode expands into the turf dominated by Meta Platforms-owned Instagram
Splunk Sues Startup Cribl, Accuses Former Manager of Stealing Code
Splunk has had a rocky year with shares down more than 30%, and now it has a legal battle brewing with one of its former senior product managers.
Spotify to Cut Podcast Staff, Cancel 10 Gimlet and Parcast Shows
Spotify is cutting 5% of its in-house podcasting staff and canceling 10 original podcasts produced by its studios Gimlet and Parcast.
Musk’s Lawyers Say Deal Could Close on October 28 if Trial is Cancelled
Lawyers for Musk’s banks say banks are willing to fund the deal, according to a Musk filing with the Delaware court.
Tiger Global Targets $6 Billion as Key Partner Departs
Tiger Global Management plans to raise $6 billion for its fifteenth fund focused on private technology companies.
TikTok Parent ByteDance’s Losses Tripled Amid Growth Push
ByteDance’s revenue soared almost 80% to $61.7 billion in 2021, while operating losses more than tripled last year.
Peloton Cuts Another 500 Jobs
CEO Barry McCarthy says Peloton needs to show within six months that growth initiatives are working.
Former Huawei Executive Builds Fab That Could Skirt U.S. Sanctions
Pengxinwei IC Manufacturing is building a semiconductor manufacturing plant near Huawei’s headquarters and is purchasing foreign chip-making equipment.
Former Uber Security Chief Found Guilty of Covering Up Hack
Joe Sullivan’s case was unusual because security executives have rarely faced charges for their roles in hacks
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