Disney’s Board Renews Chapek’s Contract for Three Years
Chapek took over as CEO of Disney in February 2020, right as the Covid pandemic was starting, putting him in the hot seat immediately.
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Pinterest’s Silbermann Steps Down
Pinterest has lately suffered falling user numbers in the U.S. and struggled to adapt to a quickly changing digital landscape.
StockX Cuts 8% of its Staff
The popular sneaker resale site is the latest online retailer to cut staff as overall e-commerce sales growth slows.
Arm CEO Says Chip Firm Could Pursue More Deals After IPO
Arm CEO Rene Haas says the the company wants to accelerate its expansion into chips for cars, data centers and other hardware for the metaverse.
Taiwan’s GlobalWafers Plans to Build $5 Billion Chip Wafer Plant in Texas
The move comes as the U.S. and other countries are scrambling to beef up domestic supply chains amid ongoing global chip shortages.
FTX Exploring Acquisition of Robinhood
Any potential takeover deal would have to be approved by the Robinhood co-founders, who control over 50% of the company’s voting rights.
Tencent’s Biggest Shareholder Plans to Sell Some of Its Stake
South Africa's Naspers says its subsidiary Prosus plans to sell some Tencent shares to finance its long-term share buyback program.
Shanghai Declares Victory Over Covid-19
As Shanghai reported zero new cases and Beijing relaxed its Covid-19 restrictions, Hong Kong shares rose on hopes for China's recovery from the pandemic.
Congressional Report Says Robinhood Understated Liquidity Problems During Meme Stock Craze
During the height of the meme stock craze, Robinhood halted some transactions and later raised $3.4 billion from investors for emergency funding.
Zendesk Agrees to $10.2 billion Buyout Months After Rejecting Higher Bid
Zendesk had turned down a $17 billion proposal to take the company private in February.
Meta Plans To Shut Down CrowdTangle Tool
The company says it will keep the tool alive through the midterm elections.
Zendesk Agrees to $9.2 Billion Buyout
The price offered by the buyout firms is below where Zendesk stock was trading just a few weeks ago, raising questions about shareholder reaction to the deal.
MasterClass Lays Off 20% of its Employees
It joins other creator economy startups including Cameon, Picsart and Community in cutting jobs.
Yelp CEO, Announcing Plans to Shut Offices, Says Hybrid Work Is ‘Hell’
The company will close offices in New York, Chicago and Washington D.C.
Netflix Lays Off 300 People
The layoffs reflect Netflix's effort to curb its costs as it deals with slowing revenue growth.
Venture Firm Accel Closes $4 Billion Late-stage Fund
The fund will give capital to existing portfolio companies and newcomers
Shopify’s Spokesperson Quits
Shopify lost its top spokesperson as it grapples with a stock price that has fallen 75% so far this year.
Meta’s Oversight Board Calls For More Transparency From Company
In its first year, the Oversight Board overturned Meta in 70% of the cases it considered.
FalconX Valued at $8 Billion After Raising Series D Round
FalconX is one of a handful of crypto companies that have been able to raise money amid a crypto market downturn.
SoftBank Head of International Leaves Post After Five Months
SoftBank Group International CEO Michel Combes is stepping down and will be replaced by SBGI Managing Partner Alex Clavel.
Weekday mornings
The Information AM by The Information Staff
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