Shares of database provider Snowflake jumped more than 19% in the wake of its report after dropping less than 1% in regular trading. Investors seemed to be encouraged that the company sailed well past its earlier quarterly product revenue projections and raised its full-year ... Read more ›
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Olipop, a fast-growing brand of soda that has built buzz on TikTok and Instagram with help of celebrities such as Gwyneth Paltrow, is aiming to lift its sales this year to around $400 million, up from more than $250 million last year, and is in talks to raise fresh capital to help fuel its growth, according to a person with direct knowledge of the discussions. The company is looking to... Read more ›
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ByteDance revenue in the third quarter of 2023 rose roughly 43% to $30.9 billion, indicating that the TikTok parent company accelerated advertising and ecommerce sales slightly from the first half. It also demonstrated that ByteDance is continuing to grow at nearly twice the growth rate of Facebook-owner Meta Platforms. For the first nine months of the year, ByteDance revenue rose 40% to $84.4 billion, it disclosed in private documents viewed... Read more ›
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The founder and CEO of the hospitality startup Life House, Rami Zeidan, has resigned and left the board, board member Chris Hemmeter told shareholders in an email on Monday. The board hired two travel industry veterans to take over the company’s management. The shakeup follows a February 14 report in The Information which cited customers and employees accusing Life House of misrepresenting its technical prowess and mismanaging the operation of... Read more ›
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Big tech companies the world over like to spread their bets on large language models. We’ve seen that with Microsoft—which backed OpenAI but has also struck deals with rivals Cohere and Mistral to make their models available to customers of Azure. (Microsoft also invested a tiny amount in Mistral). Similarly, Alibaba, China’s equivalent of Amazon, has invested in at least four Chinese generative AI startups that develop LLMs—in addition to... Read more ›
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For many tech executives, the outbreak of Covid-19 turned into a leadership boot camp, requiring them to shepherd companies through the intense spike in demand for online shopping and entertainment and the painful slowdown in business that followed. A generation of tech executives is now leaving those companies with battle-honed skills. Our latest installment of Free Agents highlights five former or outgoing leaders at companies who are newly on the... Read more ›
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On Feb. 16, Paolo Cerruti, co-founder of Swedish battery manufacturer Northvolt, visited the company’s California-based subsidiary, lithium-metal battery developer Cuberg. In recent years, Northvolt had racked up $55 billion in orders for conventional electric vehicle batteries and broken ground on three gigafactories. But Cerruti was displeased with Cuberg—specifically with its CEO and founder, Richard Wang. In 2021, Wang had sold Cuberg to Northvolt for an undisclosed sum, and gone on... Read more ›
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In 2012, Joe Lonsdale and his co-founder, Zac Bookman, started OpenGov with a fairly straightforward idea. “We thought there’s room for something to really help governments run a lot better,” said Lonsdale, who’s also a venture capitalist and a Palantir co-founder. Since then, they’ve found plenty of room in that market of selling software to local municipalities—enough to fetch a 10-figure valuation: Days ago, OpenGov sold itself for $1.8 billion... Read more ›
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Welcome, Weekenders! In this newsletter:A new VC star’s unordinary approachOur finest AI tips to improve your lifeHow to best appreciate the new “Dune” moviePlus: What Socrates and Satya Nadella have in common; a vengeful billionaire and a murderous enigma; and a top-notch ‘Job.’A couple days ago, something unusual caught my attention: an eye-catching software buyout! We used to have those all the time. Not so much anymore. Still, even a... Read more ›
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What makes Microsoft’s Satya Nadella such a strong CEO? Should we all talk like spies? And why did bestselling author Charles Duhigg struggle for a time as a New York Times journalist? It was all a matter of communication—well, miscommunication, in Duhigg’s case. “I was fine at, like, the strategy and logistics and was not so great at the communication part, which totally caught me off guard,” said Duhigg, whom... Read more ›
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One of the finest uses of artificial intelligence is to efficiently summarize an immense amount of information. But why let the bots have all the fun—or do all the work? In that spirit, we’ve taken our anecdote-rich insiders’ guide to AI from last week and condensed it to the practical tips that impressed or surprised us the most. Read more ›
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Mark Zuckerberg may be few people’s conception of the ideal CEO. Some might balk at his strategic thinking, particularly around burning tens of billions on far-off metaverse technology, or might complain about Meta Platforms’ lack of fiscal discipline before its business slowed in 2022. Others might cite Meta’s ineffectual response to complaints about its platform broadcasting misinformation and content dangerous to kids. Even so, as a spokesperson for his company,... Read more ›
1
This week, the gang of More of Less had a lot to chat about. The Morins gave us the download from what they called the "most premier VC conference" around. The event was surely a sign that the venture capital industry is not dead (or at least doesn't believe it is dead). We also couldn't refrain from armchair CEO-ing Alphabet's latest PR crisis. Plus, the secret Apple training track that... Read more ›
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The Clay Theatre, a Pacific Heights landmark constructed shortly after the 1908 earthquake, has stood empty for four years on a busy stretch of Fillmore Street, the exterior poster frames as vacant as the adjacent ticket booth. Given the venue’s storied past and the area’s tony reputation as a place filled with Gettys and Haases, the neighborhood has long expected someone would show up to salvage the Clay. That someone... Read more ›
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Reddit’s initial public offering prospectus, published last week, has reignited chatter that IPOs could pick up this year. According to The Information’s Tech IPO Tracker, at least 16 tech companies could make public debuts in the next 10 months. In another sign of increased activity, artificial intelligence hardware startup Astera Labs released an IPO prospectus in the days before Reddit released its own. Lise Buyer, founder of IPO advisory firm... Read more ›
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Late last year, in a meeting between Google and Meta Platform staffers, Google suggested that Meta partner on Android XR, the new software platform Google is developing for virtual reality, augmented reality and mixed-reality headsets, according to a person involved in the talks. The two companies had long been in regular contact over Meta’s Quest VR headsets. The devices run on an open-source version of Google’s Android operating system, modified... Read more ›
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Venture capital leaders flew to Los Angeles this week for the annual Upfront Summit, a two-day conference featuring investors, founders and a smattering of celebrities like Lady Gaga. The energy was high and the references to the painful VC correction that pummeled valuations and knocked out VC firms were rare. The downtown is over, apparently!The cast of characters that hit the stage ran the gamut from venture capitalists prognosticating on... Read more ›
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My writing and reporting workload over the last few days has gotten pretty heavy, so I’ve regularly been grabbing Celsius energy drinks. The sleek cans have become ubiquitous in grocery and convenience stores. Celsius drinks, which taste better than Red Bull, contain a crazy caffeine jolt and have no added sugars. They’re favored by TikTokers, fitness buffs and finance bros alike.The South Florida–based maker of the drink, Celsius Holdings, has... Read more ›
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TikTok’s standoff with Universal Music Group is the latest example of how the app has changed from its roots as a lip-syncing platform toward one more focused on shopping.To recap: Late last month, TikTok and Universal Music Group, one of the biggest record labels in the world, failed to reach an agreement to let TikTok license UMG songs for use on its platform. TikTok removed UMG’s catalog, which includes Taylor... Read more ›
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“Promoting or encouraging harmful or illegal activities is not acceptable,” Meta AI, an artificial intelligence assistant, told me the other day. “It's important to respect the safety and well-being of individuals and property.”I had asked the assistant, which is embedded in Meta Platforms’ apps and Ray-Ban smart glasses, how to kill the engine of a car—a question that most people would understand as how to shut off a car. But... Read more ›
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Nextdoor once looked like the next great bet for Bill Gurley, the prominent Benchmark venture capitalist known for early investments in Uber, Zillow and Stitch Fix. Now the neighborhood social network is looking like a missed opportunity for him. Gurley urged Nextdoor co-founder Nirav Tolia not to sell the startup in 2018, when it was valued at $1.5 billion, according to people close to Tolia and Nextdoor. Google was among... Read more ›
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Most popular sources
Business Insider
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24% 3 |
Tech Wire Asia
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20% 15 |
CNET
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7% 3 |
Eurogamer.net
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6% 1 |
The Verge
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5% 3 |
| View sources » | |
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28.11.2024 05:44
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