Payments Startup Paddle Acquires ProfitWell for $200 Million
With the rise of subscription based services, there is continued consolidation among the vendors that serve them.
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ByteDance Rival Kuaishou’s Results Outperform Other China Tech Giants
Kuaishou's solid ad revenue growth comes as other Chinese internet giants are reporting weaker ad sales amid an economic slowdown.
Microsoft Unveils Mini PC for Building AI Applications
Microsoft gave developers a glimpse of the future at its Build conference, showing off a mini PC for building and testing AI-powered applications.
Cybersecurity VC Firm SYN Ventures Raises $300 Million
The firm’s managing partner said spending on security software won’t fall during a recession.
PayPal Planning to Lay Off 307 Employees in Ireland
The proposed cuts represent a small percentage of PayPal’s global workforce, which totaled 30,900 people in late 2021.
European Delivery Startup Gorillas to Cut 300 Employees
One of Europe’s largest fast delivery companies, Gorillas, is the latest to announce a round of layoffs as the start-up seeks more funding from investors in the private market.
Airbnb is Closing its China Business
The firm had been struggling to grow market share even before strict Covid-19 lockdowns curtailed travel in China
Zoom Shares Jump After Strong Earnings Report, Forecast
Zoom has had a tough year as investors have fled in droves, but a strong earnings report and forecast seems to have brought some of them back.
Klarna to Cut 10% of Global Workforce
The job cuts came just days after reports that Klarna was raising money at a lower valuation than where it previously raised money.
Mark Zuckerberg Sued by D.C. Attorney General Over Cambridge Analytica Scandal
D.C. Attorney General Racine was unsuccessful in adding Zuckerberg to its existing lawsuit against Meta Platforms.
Snap Warns That Q2 Performance Will be Worst Than Expected
Snap had outperformed many other digital ad companies in recent quarters so its warning raises ominous questions about the rest of the sector.
Swedish Buy Now, Pay Later Firm Klarna To Cut 10% of Global Workforce
Klarna founder and CEO Sebastian Siemiatkowski blamed factors including inflation, souring consumer sentiment and a likely recession.
DataRobot Taps Former Salesforce CFO Hawkins as Board Chair
Chris Lynch, the first investor in DataRobot and its board chair for the past several years, has left the role for reasons that aren't clear.
PayPal Laid Off 83 People in April
The layoffs come amid a downturn in the growth of e-commerce across the US.
Didi Global Shareholders Approve U.S. Delisting Plan
Didi's delisting approval highlights the risks global investors could face with their bets on Chinese companies.
Apple Seeks To Reduce China Exposure by Boosting Manufacturing Elsewhere
Apple told its suppliers that it wants to manufacture more in Southeast Asia and India as China remains gripped in Covid-19 lockdowns.
BitMEX Founder Sentenced to Two Years Probation
As part of his sentence for failing to guard against money laundering, Arthur Hayes will serve the first six months of his probation in home confinement.
Broadcom Reportedly in Talks to Acquire Data Center Firm VMware
VMware, the dominant provider of software for managing applications in data centers, has also built ties with major cloud providers.
Amazon Tests Program to Deliver Goods From Shopping Malls
Amazon is piloting a program to deliver products from shopping malls to nearby customers using its army of gig-work delivery drivers.
Google Compromises on App Store Payments Pending Lawsuits
Google has formed temporary agreements with Epic and Match related to its app store payment policies pending the outcome of litigation
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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