Trading App Robinhood Raises $280 Million at $8.3 Billion Valuation
Robinhood said it had added 3 million funded accounts since the beginning of the year and that trading on its platform spiked in March.
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Uber’s Middle East Subsidiary Cuts 31% of Staff; Uber Eats Shuts Down in 7 Markets
The news was announced as Uber prepares layoffs across the rest of the company.
Amazon Vice President Quits to Protest Worker Treatment
An Amazon cloud executive quit the company over its firing of warehouse workers who were protesting conditions during the coronavirus pandemic.
Apple to Sell New Debt
Apple has about $10 billion in debt that comes due this year, which will likely be refinanced from the latest bond offering.
Silver Lake to Invest $750 Million in Indian Mobile Provider Jio
Silver Lake has made a number of investments amid the pandemic, which has reduced the value of some tech companies and made them more attractive to investors.
Elliot Management Financing Lawsuit Against Quibi
Hedge fund puts money behind patent infringement suit against the company in exchange for equity stake
Comcast’s NBCU Discusses Layoffs
The discussions come as NBCU has seen huge drops in revenue from its theme park and film businesses amidst shutdowns.
Charter Reports Strong Growth in Broadband
Charter's results are the latest sign that the pandemic is driving more people to sign up for the internet.
Microsoft Reportedly Eyeing Software Automation Startup
U.K.-based Softomotive, which has raised $25 million, would be cheaper than established software-based automation companies like UIPath and Automation Anywhere.
Facebook at Risk of Losing Ads Measurement Approval by Top Watchdog
A leaked letter from the Media Rating Council said Facebook “failed to address advertiser concerns arising from a 2019 audit."
Tesla CEO Musk Tweets Stock Price ‘Too High,’ Shares Plunge
Perhaps Musk's tweet is intended to make the stock more appealing as part of a future cash raise.
Lawmakers Call On Bezos to Testify Over Third-Party Sellers
The House Judiciary Committee’s call for the Amazon CEO to appear highlights ongoing concerns that Amazon used data from third parties to launch competing products.
FBI Director Opposes Encryption Now, Previously Worked for Facebook
FBI Chief Wray wants law enforcement access to encrypted messages. He argued the opposite while representing Facebook’s WhatsApp.
Services Drives Apple Revenue Higher, Despite iPhone Drop
The growth in services offset an expected decline in device sales, vindicating CEO Tim Cook's strategy of expanding services like video streaming.
Amazon Reports Retail Surge, Says Pandemic Investments to Eat Profits
Amazon saw a huge increase in retail sales as more people shop online, but warned that Covid 19-related investments will wipe out second quarter profits.
Quibi Execs Admit Rough Launch Timing
Downloads have looked strong in the first few weeks, but with high costs the company needs to get paying subs quickly
Blue Origin, SpaceX Tapped by NASA to Build Moon Landers
Companies owned by Bezos and Musk will compete to build lander slated for 2024 trip to the moon.
Apple Executive Joins Biden Effort to Find Running Mate
Apple's Cynthia Hogan is the only member of the vetting committee who is not a politician.
Zoom Video Restated User Numbers
Zoom's stock fell nearly 7% after the correction, which raises questions about how the videoconferencing service measures its usage.
Andreessen Horowitz Raises $515 Million for New Cryptocurrency Investments
It's the second such fund for the venture capital firm, one of the early institutional investors in the digital currency and related businesses.
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