The Information

Facebook CEO Mark Zuckerberg. Photo by Bloomberg

Facebook Strikes Deal for AR Displays, Squeezing Out Apple

By Alex Heath and Amir Efrati · Mar 30, 2020 7:02am PDT · 4 comments

Facebook has struck a deal to buy all of the augmented reality displays made by British firm Plessey, as the social network looks to build AR glasses capable of overlaying virtual objects onto the real world. The deal could give Facebook an edge over Apple, which recently looked at buying Plessey, one of the few makers of AR displays, according... Facebook has struck a deal to buy all of the augmented reality displays made by British firm...

One of the houses in a Northern California town that Jane Dinh plans to use for her escape community.

Pandemic Spawns Escape Communities Promising Self-Isolation—in a Group

By Zoë Bernard · Mar 29, 2020 4:47pm PDT · 8 comments

After the coronavirus forced Jay Jideliov to send all the employees of his company, Callision, home to work, he began pondering how he would cope with a period of indefinite isolation in his Los Angeles home.Jideliov’s answer was to create what he describes as a “virus-free retreat” called Harbor, which will house around 33... After the coronavirus forced Jay Jideliov to send all the employees of his company, Callision,...

Airbnb CEO Brian Chesky in 2017. Photo: Bloomberg

Airbnb to Halt All Marketing, Most Hiring as Losses Mount

By Cory Weinberg · Mar 27, 2020 2:27pm PDT · 1 comment

Airbnb plans to halt all of its marketing, pause most hiring, and likely withhold employee bonuses as it tries to conserve cash amid a slide in bookings, CEO Brian Chesky told employees in a video conference call Thursday, a person familiar with the matter said.The steps are the first indication of how the company is planning to reduce costs to... Airbnb plans to halt all of its marketing, pause most hiring, and likely withhold employee...

Amazon's Seattle headquarters. Photo by Bloomberg

How Amazon Is Running Remotely: Basement Hardware Labs, Virtual Recruiting

By Priya Anand · Mar 27, 2020 7:00am PDT · 1 comment

Amazon's Seattle headquarters. Photo by Bloomberg

How Amazon Is Running Remotely: Basement Hardware Labs, Virtual Recruiting

By Priya Anand · Mar 27, 2020 7:00am PDT · 1 comment

For several weeks, tens of thousands of employees at Amazon’s corporate offices in Seattle and elsewhere have been hunkering down in their homes to curb the spread of the coronavirus, trying to get on with business however they can. That is resulting in some stern reminders from the company about corporate policies. For example,... For several weeks, tens of thousands of employees at Amazon’s corporate offices in Seattle...

A Lime scooter in San Francisco last December. Photo by AP

Lime’s Valuation May Fall 80% in Emergency Fundraising

By Cory Weinberg · Mar 25, 2020 9:03pm PDT

Scooter rental startup Lime, one of the hottest startups in tech two years ago, is trying to raise emergency funds at a valuation slashed by 80% from last year, two people familiar with the matter said. The company is seeking funds from new investors at a valuation of just $400 million, compared with the $2.4 billion level at which it last... Scooter rental startup Lime, one of the hottest startups in tech two years ago, is trying to...

Robots running software from Vicarious. Photo by Vicarious

Amazon, Startups See Surge in Demand for Automation Tech Amid Pandemic

By Kevin McLaughlin · Mar 25, 2020 7:01am PDT · 5 comments

Earlier this month, after the Philippines government ordered a lockdown of its capital city to combat the coronavirus, many of the country’s vast network of call centers—which handle customer service for airlines, banks and other companies—ground to a halt. In the days since, Amazon has seen a huge swell in sales inquiries... Earlier this month, after the Philippines government ordered a lockdown of its capital city to...

An Uber Eats courier in Portugal this past weekend. Photo by Bloomberg

Uber Eats’ U.S. Sales Surged 10% Last Week Thanks to Quarantines

By Amir Efrati · Mar 24, 2020 3:06pm PDT · 2 comments

Uber Eats’ U.S. sales surged by around 10% last week from the week before, a nearly unprecedented uptick for this time of the year, particularly given the substantial size of the business, said a person with knowledge of the figure. It shows how the quarantining of people at home amid the coronavirus pandemic has given Uber’s... Uber Eats’ U.S. sales surged by around 10% last week from the week before, a nearly...

Francis Davidson, CEO of Sonder. Photo: Bloomberg

VC-Backed Sonder Cuts One-Third of Staff as Travel Plummets

By Cory Weinberg · Mar 24, 2020 9:00am PDT · 2 comments

Francis Davidson, CEO of Sonder. Photo: Bloomberg

VC-Backed Sonder Cuts One-Third of Staff as Travel Plummets

By Cory Weinberg · Mar 24, 2020 9:00am PDT · 2 comments

Sonder, a venture capital-backed operator of apartment-based lodgings for tourists and business travelers, laid off or furloughed more than 400 people, about one-third of its staff, in a bid to offset a declining number of bookings as the travel market collapses.The San Francisco-based company is the largest of a raft of startups that have... Sonder, a venture capital-backed operator of apartment-based lodgings for tourists and business...

Attendees looked at a Didi autonomous vehicle at the World Artificial Intelligence Conference in Shanghai in August. Photo: Bloomberg

SoftBank Nears Deal to Invest in Didi’s Autonomous Driving Unit

By Yunan Zhang · Mar 23, 2020 8:18am PDT

SoftBank is close to finalizing a deal to lead a $300 million investment in the autonomous driving subsidiary of Didi Chuxing, according to people with knowledge of the situation. The move would broaden SoftBank’s commitment to Didi, even as the Japanese investment giant reels from the impact of the economic crunch caused by the... SoftBank is close to finalizing a deal to lead a $300 million investment in the autonomous...

Facebook CEO Mark Zuckerberg. Photo: Bloomberg

Facebook Plans $1,000 Bonuses to Help Employees During Coronavirus Crisis

By Jessica Toonkel and Alex Heath · Mar 17, 2020 8:03am PDT · 3 comments

Facebook will pay a $1,000 bonus to every employee, one of the first big companies to offer workers cash to help them during the coronavirus outbreak. It follows a similar move by enterprise software firm Workday on Monday.Facebook CEO Mark Zuckerberg made the announcement early Tuesday in an internal company notice, saying that the company... Facebook will pay a $1,000 bonus to every employee, one of the first big companies to offer...

Microsoft CEO Satya Nadella. Photo by Bloomberg

Microsoft Turns Up the Heat on Snowflake

By Kevin McLaughlin · Mar 12, 2020 7:01am PDT · 1 comment

If data analytics startup Snowflake goes public this year, as was expected before the coronavirus-driven market downturn, investors’ demand for its stock is likely to be intense. The company, which tripled its valuation to $12.4 billion in a fundraising just last month, is growing quickly as businesses increasingly try to organize the... If data analytics startup Snowflake goes public this year, as was expected before the...

Ruth Porat (left), Sundar Pichai, Sergey Brin and Larry Page. Photos by Bloomberg; illustration by Mike Sullivan

Google’s Parent Trap

By Nick Bastone and Jessica E. Lessin · Mar 11, 2020 7:02am PDT · 4 comments

Ruth Porat (left), Sundar Pichai, Sergey Brin and Larry Page. Photos by Bloomberg; illustration by Mike Sullivan

Google’s Parent Trap

By Nick Bastone and Jessica E. Lessin · Mar 11, 2020 7:02am PDT · 4 comments

In early 2015, Google co-founder Larry Page had a problem. His once nimble startup had become a slow-growing behemoth, missing out on big tech innovations and struggling to incubate new products. Page’s answer was Alphabet, a new corporate entity that would allow Google’s cash cow—its search engine—to coexist... In early 2015, Google co-founder Larry Page had a problem. His once nimble startup had become a...

Hulu's former CEO Randy Freer. Photo by Bloomberg

AT&T Approaches Kilar, Freer for WarnerMedia CEO Job

By Jessica Toonkel · Mar 10, 2020 5:46pm PDT

A recruiter working for AT&T has approached Hulu’s recently departed CEO, Randy Freer, and Hulu’s founding CEO, Jason Kilar, about taking the top job at WarnerMedia, said people familiar with the situation. Also approached was Tom Staggs, the former chief operating officer of Disney, although that didn’t lead anywhere, the... A recruiter working for AT&T has approached Hulu’s recently departed CEO, Randy Freer,...

Twitter CEO Jack Dorsey. Photo by Bloomberg

Are Jack Dorsey’s Twitter Days Numbered?

By Kevin Dugan, Alex Heath and Jessica E. Lessin · Mar 6, 2020 3:36pm PST · 3 comments

In 2016, as Twitter’s market capitalization shriveled to around $10 billion from a high of $35 billion, Silicon Valley investor Chamath Palihapitiya decided to make a bid for control of the onetime tech pioneer. He and a partner wanted to invest $1 billion in the company in a deal that would make him executive chairman and Adam Bain,... In 2016, as Twitter’s market capitalization shriveled to around $10 billion from a high of...

Richard Yu, chief executive of Huawei's consumer business, on stage last September when Huawei unveiled its Mate 30 smartphone. Photo by Bloomberg

Huawei Projects Big Drop in Smartphone Sales Amid U.S. Sanctions

By Juro Osawa · Mar 6, 2020 7:02am PST

Huawei is projecting that its annual smartphone shipments will fall around 20% this year, in what would be its first year-on-year decline, as a result of U.S. sanctions on its business. The rapidly spreading coronavirus, which has hurt manufacturing and retail sectors in China, could worsen that outlook.Huawei shared its internal projection for... Huawei is projecting that its annual smartphone shipments will fall around 20% this year, in what...

An employee at a Foxconn factory in India. Photo by Bloomberg.

Inside Apple’s Search for an Indian Supply Chain

By Wayne Ma · Mar 5, 2020 7:01am PST · 5 comments

An employee at a Foxconn factory in India. Photo by Bloomberg.

Inside Apple’s Search for an Indian Supply Chain

By Wayne Ma · Mar 5, 2020 7:01am PST · 5 comments

Several years ago, employees at Apple investigated whether components for the iPhone could be made in India. The results weren’t encouraging. While the employees found some companies that could make power adapters or packaging, none could make phone speakers, headphones or small mechanical parts. Many Indian suppliers weren’t... Several years ago, employees at Apple investigated whether components for the iPhone could be...

David Marcus, head of blockchain for Facebook. Photo by Bloomberg

Facebook Revamps Libra Plans, Bowing to Regulators

By Alex Heath · Mar 3, 2020 1:15pm PST · 2 comments

Facebook is scaling back its ambitious plan to upend the global financial system with a new digital currency.Succumbing to pressure from regulators, Facebook has decided to offer its users digital versions of government-backed currencies, including the U.S. dollar and the euro, in addition to the proposed Libra token, according to three people... Facebook is scaling back its ambitious plan to upend the global financial system with a new...

Amazon Web Services CEO Andy Jassy. Photo by Bloomberg

AWS Plans to Double Size of Sales Team as Microsoft Looms

By Kevin McLaughlin · Mar 2, 2020 7:01am PST

Amazon Web Services, faced with declining sales growth and mounting competition from Microsoft, plans to double the size of its current sales team this year, according to a person with direct knowledge and three people who have been briefed on the cloud provider’s plans. Part of the hiring spree, announced at a sales kickoff meeting... Amazon Web Services, faced with declining sales growth and mounting competition from Microsoft,...

Apple CEO Tim Cook unveiling a new line of iPads last year. Photo by AP

Apple Planning iPad Keyboard With Trackpad

By Wayne Ma · Feb 27, 2020 12:13pm PST · 1 comment

Apple is planning to release an iPad keyboard accessory later this year that will include a built-in trackpad, the latest step in its effort to position the tablet device as an alternative to laptop computers, according to a person familiar with the matter. Apple is preparing the keyboard for mass production, and one of its main... Apple is planning to release an iPad keyboard accessory later this year that will include a...

Oyo CEO Ritesh Agarwal. Photo by Bloomberg

How SoftBank-Backed Hotel Chain Oyo Lost Its Way in the U.S.

By Cory Weinberg · Feb 27, 2020 7:00am PST · 3 comments

Oyo CEO Ritesh Agarwal. Photo by Bloomberg

How SoftBank-Backed Hotel Chain Oyo Lost Its Way in the U.S.

By Cory Weinberg · Feb 27, 2020 7:00am PST · 3 comments

Oyo Rooms’ 26-year-old CEO Ritesh Agarwal spent Christmas 2018 driving around Texas, meeting with owners of budget motels near interstate highways. Flush with cash from SoftBank’s Vision Fund, the startup was looking to pay these motels for control of their marketing and sales—the same strategy that turned it into a hotel giant... Oyo Rooms’ 26-year-old CEO Ritesh Agarwal spent Christmas 2018 driving around Texas,...