Alibaba Reports Flat Revenue But Beats Market Estimates
In the quarter through June, Shanghai's lockdown and other Covid-19 restrictions in China dealt a serious blow to the e-commerce giant's business.
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SoftBank Raises $22 Billion From Sales of Alibaba Derivatives
The derivatives allow the Japanese tech investment firm to raise cash while retaining the possibility of eventually holding on to its Alibaba shares.
Apple Job Posting Hints at Advertising Ambitions
The hardware and software giant is looking for someone to create a platform that will help advertisers buy ads across Apple’s web of services
Commerce Investor VMG Catalyst Raises $400 Million for Second Fund
Even smaller venture capital shops are proving they can lure fresh capital amid the tech downturn.
Game Software Firm Unity in Talks to Spin Off China Unit
The talks come as tech companies operating in both the U.S. and China are coming under more political and regulatory pressure from both countries.
Uber Posts Positive Cash Flow as Ride Hailing Rebounds
The company’s ride-hailing business returned to pre-pandemic levels.
Michael Saylor Steps Down as MicroStrategy CEO
Saylor is known for his bullish stance on bitcoin, which makes up a significant portion of MicroStrategy’s cash reserves.
Robinhood Lays Off 23% of Staff, Closes Two Offices in Fresh Round of Cuts
Robinhood also reported earnings on Tuesday, one day earlier than expected.
Hackers Steal Over $150 Million Worth of Crypto from Startup Nomad
The security breach was the eighth largest crypto theft of all time.
Instagram’s Adam Mosseri Will Move to London Temporarily
Adam Mosseri, the head of Instagram, will temporarily relocate to London to ramp up recruiting efforts.
Marketing Startup Klaviyo Bags $100 Million Shopify Investment
Klaviyo will also become the recommended marketing service for Shopify's premium service, Shopify Plus.
Google Starts Internal Initiative to Boost Productivity Amid Slowdown
The move comes after Alphabet reported weaker-than-expected earnings and revenue last week.
Pinterest Revenue Falls Short of Forecasts as User Growth Drops
Activist firm Elliott applauds CEO transition, says it’s the largest shareholder
Google, Meta and Apple Back Affirmative Action in Supreme Court Brief
Seventy companies signed on to the amici curiae brief, which makes a business argument for allowing affirmative action in college admissions.
China Investigates Top Official In Charge of Tech Regulation
The minister of industry and information technology whose portfolio includes the nationally strategic push to develop homegrown semiconductors is being investigated by China’s anti corruption watchdog.
Apple to Create New Spots for Ads in App Store
The move is part of Apple's efforts to diversify its revenue away from hardware sales toward advertising and services.
Web3 Startup Helium Reportedly Listed Fake Customers on Its Website
The unicorn startup had been lauded as the rare real-world use case for crypto.
Chinese Government Entity Tried to Open Stealth TikTok Account
The government entity's attempt to create a stealth account met with a pushback from TikTok's executives and the app says it declined the request.
U.S. Passes $52 Billion in Chip Subsidies to Boost Production, Counter China
Things could get messy as every Western chip developer tries to dip into the new money well.
Amazon Posts Sluggish Online Sales, Strong AWS Growth
Amazon continued to see slow growth due to a slowdown in retail sales, along with excess operational costs due to overstaffing and overbuilding of warehouses.
Weekday mornings
The Information AM by The Information Staff
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