SoftBank-Backed Social App IRL Lays Off Around 20% of Staff
IRL is one of a number of tech firms that have cut staff in recent weeks, including other SoftBank-backed startups such as Picsart, Cameo and Reef.
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Recent Editions
Winklevoss-Founded Gemini Cuts 10% of Staff as Crypto Slumps
The layoffs add to a growing list of crypto companies downsizing or freezing hiring.
Ten Eleven Ventures Raises $600 million for Cybersecurity Fund
While valuations are now coming under pressure, Ten Eleven sees the shift as an opportunity to invest.
Chinese Food Delivery Giant Meituan’s Revenue Beats Expectations
Meituan and other Chinese internet giants continue to face uncertainties due to the economic impact from China's Covid lockdowns in recent months.
Xiaomi-Linked Firms Pause IPO Plans Amid Regulators’ Scrutiny
Beijing's scrutiny of tech firms that have ties to smartphone maker Xiaomi comes after the government last year stepped up its anti-monopoly campaign.
Amazon Will Pull Kindle From China
The e-commerce giant said government pressure or censorship wasn’t the reason for its decision to stop selling the Kindle in China.
Seatgeek Scraps SPAC Plans, Citing Market Volatility
Deal would have valued the combined sports SPAC and ticket platform at $1.35 billion
Ex-OpenSea Employee Charged with Insider Trading
Chastain was charged with one count each of wire fraud and money laundering, both of which carry a maximum sentence of 20 years in prison.
Meta Accuses EU of ‘Fishing’ Expedition During Antitrust Investigation
The Facebook and Instagram parent is pushing back on regulators' data requests.
Fidelity Cuts Stripe and Reddit Valuations Amid Tech Stock Downturn
The mutual fund company also lowered its valuation of ByteDance and Instacart private shares.
Amazon Pushes Back Against ‘Self-Preferencing’ Bill
Senate Majority Leader Chuck Schumer is under pressure to bring the bill to a vote.
Elon Musk Doubles Down on Office Return In Staff Emails
Employees must spend 40 hours in person or resign
Salesforce Shares Jump 7% On Revenue Growth, Earnings Upgrade
Salesforce, founded in 1999, has gained valuable experience during previous economic downturns, co-founder and co-CEO Marc Benioff noted on an earnings call.
Supreme Court Blocks Texas Social Media Law
The legislation would prevent social media platforms from removing posts based on views expressed in them.
Former AWS, Splunk Exec Teresa Carlson Joins Microsoft
Teresa Carlson, who led AWS' public sector business for more than a decade before moving to Splunk last year, is now at Microsoft.
Affirm Partners with Stripe
The BNPL provider has historically relied on partnerships with retailers and other sofware providers to grow the transaction volume that it takes a cut from.
India Grabs 5% of Global PC Market as Domestic Production Nears 18%
India’s share of the global PC market rose to 5% from 3% two years ago, according to Canalys. Some 18% of PCs are manufactured locally as demand soared amid a Covid recovery.
VC Investment in China Declines Faster Than in the U.S.
The value of venture capital investment in China fell 44% in the first four months of the year compared to last year, four times faster than the global drop.
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