Initialized Capital Announces Fifth Fund
Shortly after the departure of co-founder Alexis Ohanian, Initialized raises $230 million.
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TikTok’s Young Users Raise Safety Questions
More than a third of its 49 million daily users are 14 or younger, documents indicate. Children under 13 are protected by U.S. privacy regulations.
Pinterest Employees Confront Allegations of Discrimination With Walkout
Pinterest employees demanded systemic change within the company after three former employees complain of discrimination.
Two Senior Uber Self-Driving Car Execs Depart
The company is trying to launch a driverless prototype next year.
Canada Opens Antitrust Investigation Into Amazon
Canada joins the U.S. and Europe into investigating Amazon on antitrust grounds.
Google Distances Itself From Hong Kong After Controversial National Security Law
Western tech companies are increasingly distancing themselves from Hong Kong in the wake of a sweeping national security law that give Beijing more power.
Shares of Video Streaming Site Iqiyi Plunge Amid SEC Probe
Iqiyi, the Baidu-backed firms compared to Netflix, joins a growing list of U.S.-listed Chinese firms that have run afoul of U.S. regulators.
Baidu’s Weak Ad Revenue Highlights Shift in China’s Tech Sector
Baidu has been facing fierce competition from ByteDance, whose ad revenue from its Douyin video app has grown rapidly.
WeWork Revenue Fell Between First and Second Quarter
The credit facility helps offset WeWork's $671 million cash burn in the second quarter.
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.
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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