Magic Leap Raises $350 Million, Withdraws Layoff Notices
Magic Leap earlier said it would lay off about 1,000 employees, or about half its workforce, and focus on selling its augmented reality headsets to businesses.
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Shopify, Spotify Say Workers to Stay Home Until at Least Next Year
"Office centricity is over," says Shopify CEO Tobi Lutke.
Facebook Begins Shift to Permanent Remote Workforce
The move is the strongest signal yet that the coronavirus pandemic will make lasting changes to how companies operate.
Senate Democrats Continue Attacks on Uber-GrubHub
Democratic lawmakers continue to raise concerns about a potential Uber-GrubHub deal in the midst of pandemic.
Amazon Postpones Prime Day Until September
The retail giant continues to grapple with a big increase in demand due to the coronavirus pandemic.
The Atlantic Cuts 17% of Staff
The publication has attracted 90,000 subscribers since March, but has seen huge drops in its events and advertising business amidst the coronavirus pandemic.
SoftBank Investigated COO for Possible Ties to Money Laundering and Drug Cartels
The report, which cleared COO Marcelo Claure, suggests Vision Fund's Rajiv Misra was behind the investigation.
Down Rounds Hit Highly Valued Samsara, Rent the Runway
Expect more down rounds ahead. They give startups the runway to keep going, but damage existing shareholders like employees.
Expedia Bookings Fell by 39% in First Quarter
Signs of a rebound sent its shares up 4% after hours.
Video Game Publisher Warns of Post-Coronavirus Fade
The publisher of video games including Grand Theft Auto and Red Dead Redemption reported a surge in revenue and post-game purchases during the March quarter.
Twitter Lets Users Limit Who Can Respond to Their Tweets
While seemingly a small tweak, this new feature could result in Twitter users feeling more comfortable with posting on the service more.
Coinbase to Make Working From Home Permanent
The crypto company said the new policy, dubbed “remote-first,” would be an asset in recruiting talent globally.
Apple and Google Release Contact Tracing Technology
Health departments in Alabama, North Dakota and South Carolina are the first commit to building apps that leverage the technology.
Senate Bill Targets Chinese Companies for Delisting
Growing hostility toward China leads Senate to pass a bill aimed at delisting Chinese companies over accounting standards.
Card Startup Brex Raises $150 Million
The startup was already well-financed, but its customers are struggling as the economy contracts.
Google Signs Cloud Deal With Defense Department Unit
In the deal for at least $1 million, Google will help the Defense Department with its cybersecurity initiatives.
Luckin Coffee Faces Possible Delisting
Luckin plans to appeal the delisting motion from Nasdaq, which started the process after the Chinese online coffee-delivery company admitted making up sales.
Facebook to Limit Office Capacity, Require Temperature Checks
As one of the first big companies to send its workers home due to the coronavirus pandemic, how Facebook plans to reopen is being closely watched.
Benchmark Raises $425 Million Fund, This Time Without Bill Gurley
The firm, known for investments in Uber and Instagram, raised the fund sooner than expected.
Google Stops Building AI for Oil and Gas Projects
The decision comes two years after Google declined to renew a controversial military contract that used its AI algorithms in battlefield drones.
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