The Information

Art by Mike Sullivan

The Battle of the Streaming Gatekeepers Heats Up

By Jessica Toonkel and Sahil Patel · Oct 21, 2021 6:01am PDT · 4 comments

In 2019, David Limp, head of Amazon’s devices business, saw an opening. For years, Roku—Amazon’s chief rival in the market for devices that let you stream video onto television sets—had supplied software to TCL, one of the world’s leading TV makers, to power the Chinese company’s internet-connected TV sets.... In 2019, David Limp, head of Amazon’s devices business, saw an opening. For years,...

Art by Mike Sullivan

Facebook Kills ‘Hey Facebook’ Voice Command for Portal Amid Customer ‘Confusion’

By Sylvia Varnham O'Regan · Oct 20, 2021 3:08pm PDT

Facebook has quietly abandoned the phrase “Hey Facebook” as a way for customers of its Portal video-chat device to start a conversation with a voice-activated virtual “AI assistant,” according to an internal memo viewed by The Information. The shift came after customers indicated they were confused by the phrase... Facebook has quietly abandoned the phrase “Hey Facebook” as a way for customers of...

Illustration by Mike Sullivan.

Atomico Values Customer Engagement Startup Commsor at $450 Million

By Berber Jin and Mark Di Stefano · Oct 20, 2021 11:55am PDT

Commsor, a two-year-old startup that sells software to help companies track user engagement, is raising $50 million at a $450 million valuation, a price that includes the investment, said two people with direct knowledge of the matter. London-based Atomico is leading the round, the people added. The valuation is nearly three times higher than... Commsor, a two-year-old startup that sells software to help companies track user engagement, is...

Kyle Samani, Multicoin Capital co-founder and managing partner. Screenshot via YouTube. Art by Mike Sullivan.

Multicoin Capital Targets $250 Million for Third Crypto VC Fund

By Kate Clark · Oct 19, 2021 12:02pm PDT

Kyle Samani, Multicoin Capital co-founder and managing partner. Screenshot via YouTube. Art by Mike Sullivan.

Multicoin Capital Targets $250 Million for Third Crypto VC Fund

By Kate Clark · Oct 19, 2021 12:02pm PDT

Multicoin Capital, which operates a hedge fund focused on crypto tokens, is planning to raise $250 million for its third venture fund to back crypto startups, according to fundraising materials viewed by The Information. The Austin-based firm, which announced a $100 million second fund in May, plans to finish fundraising by the end of the year,... Multicoin Capital, which operates a hedge fund focused on crypto tokens, is planning to raise...

Art by Mike Sullivan

Finnish Cloud Database Firm Aiven Doubles Valuation to $2 Billion in Latest Funding

By Mark Di Stefano · Oct 18, 2021 12:19pm PDT

Finnish data management startup Aiven has more than doubled its valuation to $2 billion in a fresh fundraising just six months after its last funding, according to a person familiar with the matter, reflecting investor enthusiasm for the enterprise software sector. Aiven raised $60 million in an extension of a Series C round in March in which... Finnish data management startup Aiven has more than doubled its valuation to $2 billion in a...

Art by Mike Sullivan

Facebook’s Ad-Tracking Loss Is Startups’ Gain

By Malique Morris · Oct 18, 2021 8:01am PDT

Apple’s clampdown on ad tracking has prompted some small online merchants to cut back their ad spending on social media sites like Facebook, which they see as a less effective outlet than in the past. Among the beneficiaries are e-commerce software firms that specialize in collecting data on how consumers behave on merchants’... Apple’s clampdown on ad tracking has prompted some small online merchants to cut back their...

How TikTok Is Changing YouTube

By Sarah Krouse and Sahil Patel · Oct 15, 2021 7:56am PDT

YouTube isn’t just trying to mimic TikTok, the viral short-form video app that has taken the world by storm. It’s also copying TikTok’s growth playbook by paying professionals to produce original short videos. After YouTube in May said it would give $100 million to individual video creators to post original... YouTube isn’t just trying to mimic TikTok, the viral short-form video app that has taken...

Google Cloud CEO Thomas Kurian in 2019; photo by Bloomberg

Why a Key Google Cloud Product Ended Up Generating Less Than 0.1% of Revenue

By Kevin McLaughlin and Amir Efrati · Oct 15, 2021 6:01am PDT · 3 comments

Google Cloud CEO Thomas Kurian in 2019; photo by Bloomberg

Why a Key Google Cloud Product Ended Up Generating Less Than 0.1% of Revenue

By Kevin McLaughlin and Amir Efrati · Oct 15, 2021 6:01am PDT · 3 comments

Three months after becoming CEO of Google Cloud, Thomas Kurian tried to shake up the cloud market and gain an edge on his bigger rivals, Amazon and Microsoft. He launched a service called Anthos to make it easier for businesses to host their websites and applications in private data centers and on Google Cloud as well as in clouds operated by... Three months after becoming CEO of Google Cloud, Thomas Kurian tried to shake up the cloud market...

Illustration by Danielle Davis

Heavy Losses, Big Funding: Instant-Delivery Startups Battle for Customers

By Berber Jin · Oct 14, 2021 10:16am PDT · 13 comments

The instant-delivery wars have hit New York City—and they will soon spread across the country. An array of startups, including Jokr, Fridge No More, Buyk and 1520, are pitching investors to raise fresh cash, sometimes totaling hundreds of millions of dollars, on the promise that they can get people groceries in 15 minutes or less. They... The instant-delivery wars have hit New York City—and they will soon spread across the...

Udemy CEO Greg Coccari. Art by Mike Sullivan

As Udemy Plans IPO, Instructors Complain Policy Change Cut Their Pay

By Aidan Ryan · Oct 12, 2021 10:29am PDT · 2 comments

As online education service Udemy prepares to market its initial public offering later this month, Udemy’s instructors are grumbling on the sidelines. They complain that their pay has been slashed in recent months as a result of changes the company made last spring to its pay scales. Those changes helped lift Udemy’s gross profits in... As online education service Udemy prepares to market its initial public offering later this...

SoftBank CEO Masayoshi Son, left, and Nvidia CEO Jensen Huang. Photos by Bloomberg; AP

More Clouds Form Over $55 Billion Nvidia-Arm Merger

By Josh Sisco · Oct 12, 2021 6:00am PDT

Nvidia’s prospects of getting regulatory approval for its $55 billion acquisition of microchip designer Arm Holdings from SoftBank are looking increasingly imperiled, according to two people involved in the process. The deal, which would reshape the global chip industry, has been stuck in regulatory reviews for more than a year.... Nvidia’s prospects of getting regulatory approval for its $55 billion acquisition of...

Ivan Soto-Wright, CEO and co-founder of MoonPay. Photo by Bloomberg

Crypto Startup MoonPay Valued at $3.4 Billion in First VC Funding

By Kate Clark · Oct 11, 2021 11:32am PDT · 7 comments

Ivan Soto-Wright, CEO and co-founder of MoonPay. Photo by Bloomberg

Crypto Startup MoonPay Valued at $3.4 Billion in First VC Funding

By Kate Clark · Oct 11, 2021 11:32am PDT · 7 comments

Crypto payments startup MoonPay is raising its first round of venture capital at a $3.4 billion valuation including the investment, according to two people familiar with the matter. Tiger Global Management and Coatue Management are co-leading the $400 million financing for the bootstrapped startup. MoonPay’s software allows people to use... Crypto payments startup MoonPay is raising its first round of venture capital at a $3.4 billion...

Character actors from Fortnite dance during the E3 Electronic Entertainment Expo in Los Angeles in 2019. Photo by Bloomberg.

Epic Games May Make Fortnite Movie as Part of Entertainment Expansion

By Mathew Olson and Jessica Toonkel · Oct 11, 2021 6:00am PDT

Epic Games is considering launching an entertainment division focused on scripted video programming, said people familiar with the situation. The maker of hit videogame Fortnite is looking to diversify amid legal battles with Apple and Google that have hurt its ability to expand in the mobile market. The division could develop projects including... Epic Games is considering launching an entertainment division focused on scripted video...

FTC Chair Lina Khan. Photo by Bloomberg.

FTC Weighs Early Retirement Offers for Veteran Staffers As Khan Reshapes Agency

By Josh Sisco · Oct 8, 2021 10:26am PDT

The Federal Trade Commission is preparing to make early retirement offers to some of its longtime employees, according to people with knowledge of the discussions, giving FTC Chair Lina Khan the opportunity to fill the ranks with people aligned with the dramatic shift she is overseeing at the 107-year-old agency. Early retirement offers at... The Federal Trade Commission is preparing to make early retirement offers to some of its longtime...

Art by Mike Sullivan

Google Search Wants to Curate Big News. It Could Be a Minefield

By Sarah Krouse · Oct 8, 2021 6:00am PDT · 2 comments

Google is trying to learn a tough job that news editors around the world do everyday: curating information about breaking news. A small team inside Google’s search organization has spent more than a year developing a search engine feature called Big Moments that takes a more active role in determining what information to show in search... Google is trying to learn a tough job that news editors around the world do everyday: curating...

Salesforce's Bret Taylor (left) and Marc Benioff. Photos by Bloomberg. Art by Mike Sullivan

At Salesforce, a CEO Shift from Benioff to Taylor Draws Near

By Kevin McLaughlin · Oct 7, 2021 6:01am PDT · 1 comment

Salesforce's Bret Taylor (left) and Marc Benioff. Photos by Bloomberg. Art by Mike Sullivan

At Salesforce, a CEO Shift from Benioff to Taylor Draws Near

By Kevin McLaughlin · Oct 7, 2021 6:01am PDT · 1 comment

What will Salesforce look like when its co-founder and CEO, Marc Benioff, finally passes the baton to someone else? The tech industry may get to find out sooner rather than later. In recent months, the company’s No. 2 executive, Bret Taylor, has confided to people close to him that he expects to be promoted to CEO of Salesforce soon,... What will Salesforce look like when its co-founder and CEO, Marc Benioff, finally passes the...

SoftBank CEO Masayoshi Son. Photo: Bloomberg. Art by Mike Sullivan

SoftBank’s Prodigal Son Struggles in New Era

By Berber Jin · Oct 6, 2021 6:30am PDT

On a Wednesday just before the start of summer, SoftBank Group CEO Masayoshi Son gave managers of his company’s venture capital arm a list with thousands of VC-backed startups. Frustrated that SoftBank’s two Vision Funds had missed out on investing in some hot tech companies, he wanted the partners to contact as many of the... On a Wednesday just before the start of summer, SoftBank Group CEO Masayoshi Son gave managers of...

Alex Mather. Photo by Erin Beach

The Athletic Burned Through $95 Million Between 2019 and 2020

By Jessica Toonkel · Oct 4, 2021 1:45pm PDT

Digital sports news firm The Athletic hemorrhaged nearly $100 million cash between 2019 and 2020, according to a presentation prepared for investors, exceeding the $73 million in revenue the company brought in over that same period. The heavy losses reflect primarily the cost of building up a 600-person–strong reporting staff to cover... Digital sports news firm The Athletic hemorrhaged nearly $100 million cash between 2019 and 2020,...

Art from the Axie Infinity NFT game. Photo: Axie Infinity

Andreessen Horowitz Values Developer of NFT Game Axie Infinity at $3 Billion

By Kate Clark and Hannah Miller · Oct 4, 2021 1:19pm PDT · 2 comments

Sky Mavis, the developer of the popular crypto-based online game Axie Infinity, is raising approximately $150 million in Series B funding at a valuation near $3 billion in a new round led by Andreessen Horowitz, according to two people with direct knowledge of the deal. The valuation for the three-year-old startup reflects the tremendous growth... Sky Mavis, the developer of the popular crypto-based online game Axie Infinity, is raising...

Instacart chief revenue officer and former Amazon ad sales executive Seth Dallaire in 2016. Photo by Bloomberg

Instacart Raids Another Tech Giant for Ad Talent: Amazon

By Mark Di Stefano and Sahil Patel · Oct 1, 2021 6:00am PDT

Instacart chief revenue officer and former Amazon ad sales executive Seth Dallaire in 2016. Photo by Bloomberg

Instacart Raids Another Tech Giant for Ad Talent: Amazon

By Mark Di Stefano and Sahil Patel · Oct 1, 2021 6:00am PDT

Much has been written about the “Facebookification” of Instacart, after the grocery-delivery firm recruited a string of top executives, including CEO Fidji Simo, from the social media giant. But another Instacart talent raid has been largely overlooked—one it conducted on Amazon, including the retailer’s advertising sales... Much has been written about the “Facebookification” of Instacart, after the...