WeWork Revenue Fell Between First and Second Quarter
The credit facility helps offset WeWork's $671 million cash burn in the second quarter.
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Google Follows Apple, Bans Fortnite From App Store
The decision comes after Epic Games—the maker of Fortnite—released an update today that let users pay the company directly.
Airbnb Executive in Charge of Safety to Leave
Margaret Richardson would be the fifth top executive to announce an intention to leave Airbnb within the past two months.
Epic Games Sues Apple After It Removes Fortnite From App Store
Epic Games has sued Apple for anticompetitive conduct after it booted Epic’s hit game Fortnite from the App Store.
Apple to Launch Music, TV, News Bundles in October
Apple's bundles could lift overall subscription revenue and give more exposure to services such as Apple TV+ which don't appear to have gained much traction.
U.S. Companies Lobbied Against WeChat Ban in Call to White House
Apple, Ford, Walmart and Disney were among the dozen corporations joining a call with the White House arguing the ban would hurt their ability to compete in China.
Palantir Eyes September for Direct Listing
The company had been eyeing a direct listing bypassing some investment banking fees, similar to what Spotify had done and bypassing lockup periods for shareholders.
ByteDance in Talks With India’s Reliance About TikTok Investment
An investment from Reliance, one of the most politically connected companies in India, could revive TikTok in the country.
Cisco CFO Is Retiring, Revenue Drops 9%
Cisco announced its CFO Kelly Kramer plans to retire from the company, while also reporting that its quarterly revenue dropped 9%.
Airbnb Revenue Fell by About 72% in 2nd Quarter
While the big slide was less than some of Airbnb’s rivals, it underscores the challenges the company faces if the company goes public this year.
Female Founders Report Less Pandemic Runway, More Caregiving
Female founders report less runway and more time spent caregiving amid Covid-19.
Uber, Lyft May Temporarily Shut Down in California
Khosrowshahi's statement follows a court ruling earlier this week requiring Uber and Lyft to stop classifying their drivers as independent contractors.
Media Mogul Sumner Redstone Dies at 97
Redstone's death follows a long period where he was out of the public view, and his daughter Shari had taken control of his companies, Viacom and CBS (now merged.)
Tencent’s Earnings Boosted by Strong Online Games Revenue
Tencent's revenue from online games jumped as the pandemic caused internet users to spend more time at home playing games.
Apple Supplier Foxconn Reports Rising Profits Despite Slower Smartphone Sales
Foxconn said its second-quarter profit was $778.54 million, an increase of 34% over last year as telecommuting made up for falling phones sales.
Tesla Splits Stock 5-for-1 in Bid for Small Investors
The decision comes on the heels of a stock split by Apple, whose shares have also rocketed this year.
Venture Capital Investment Only Took ‘Modest’ Coronavirus Hit
VC-backed startups may have been 'spared from the worst of Covid-19,' says new academic study that counters early forecasts of the pandemic's impact.
TikTok Collected User Data in Violation of Google’s Android Policies
The data harvesting stopped around the same time the U.S. government opened a national security review of the popular video app.
Former Pinterest COO Alleges Gender Discrimination at Pinterest in New Lawsuit
Françoise Brougher is the third prominent employee to publicly accuse the social media giant of discrimination in recent weeks.
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