Damien Singh, chief financial officer of Canva, the design software firm last valued at over $25 billion, has left the company. The departure leaves one of the most closely watched software firms with an important executive position to fill ahead of a potential initial public offering. The Australia-based company said in a note to investors last week it made the change to “set ourselves up for the next chapter of... Read more ›
8
Nvidia’s stock has been on a tear as major technology firms and app developers clamor for the company’s server chips for artificial intelligence, creating a shortage. But over the next year, prices for these chips, known as graphics processing units, will plummet, throwing a wrench into the business models of numerous major companies and startups, said Ali Ghodsi, CEO of Databricks, a $43 billion-valuation developer of software that helps companies... Read more ›
12
Much ink lately has been spilled about MrBeast’s videos getting extra visibility on X, the social network formerly known as Twitter. Jimmy Donaldson, the real name of MrBeast, has expressed confusion himself about why his video of cars got more than 156 million impressions in a week, boosting his earnings from advertising revenue on the video to more than $263,000. He and others speculated X was jacking up its visibility... Read more ›
0
Early reviews are pouring in for Google’s Gemini Ultra, the company’s most advanced large language model that powers a paid version of chatbot Gemini, a rival to ChatGPT. The reviews make us think that after an early scramble to catch up to its Microsoft-backed rival, Google is going to be just fine in this market.The vast majority of developers and founders I’ve spoken with say Gemini Ultra appears to be... Read more ›
2
Private equity firms are on the hunt for a red-hot skill set: wealth managers who can convince the richest 1% to invest in PE funds. As the flow of capital from pension funds and endowments has slowed, buyout firms are adding to their ranks of rich individual investors to boost assets under management for potential use in buyouts or other investments. That means hiring money managers who have experience with... Read more ›
0
Some investors in Bolt, an e-commerce startup valued at $11 billion two years ago, plan to sell their stakes back to the company at a steep loss, showing the lengths to which venture capitalists will go to get some cash back on flailing investments. Tribe Capital has told its limited partners that it plans to sell shares back to Bolt at a price that implies a $300 million valuation, or... Read more ›
21
The insane stock rally in recent days of Arm, the SoftBank-owned chip designer, puts a big dent in the theory that the market for initial public offerings is still “closed.” The company’s stock price—which has doubled in the past week—is now up 192% from its September public listing, providing IPO investors with a juicy profit. What Arm shows is that investors are looking for big, marquee tech companies chasing large... Read more ›
6
OpenAI CEO Sam Altman stole the show last week with a report that he is trying to raise trillions of dollars in capital to develop and manufacture AI chips. But let’s set aside our collective incredulity for a moment (we’ll come back to it!) and consider the implication of Altman’s fundraising: that unlimited computing power will lead to all-powerful AI. In other words, he believes the only thing standing in... Read more ›
8
After a rough couple of years, software companies are finding it easier to sell their products to businesses. New data show that privately held software companies selling subscription services spent less time and money in the fourth quarter of 2023 to secure new customers, compared with earlier in the year. Preliminary data from January suggest the trend has continued, said Miguel Fernández, co-founder and CEO of startup lender Capchase, which... Read more ›
0
Welcome back to The Electric!China dominates the global batteries industry, including the supply of components and metals. But its power is not fixed. This week, we examine two flashpoints where China and the U.S. both have much at stake. At a nickel smelter in Sorowako, Indonesia. Photo: Hariandi Hafid/SOPA/LightRocket/GettyLast week, Canada’s Ivanhoe Mines and Singapore’s Trafigura signed a deal to ship cobalt and copper from Zambia and the Democratic Republic... Read more ›
45
Welcome to your Weekend!A week or so ago, I did a double redeye trip from New York to San Francisco, largely to see Brex co-founder Pedro Franceschi. As often happens these days, we spent part of our time in San Francisco talking about New York, where Franceschi had recently lived for a year and a half, stationing himself in a swank SoHo pad. In New York, he devoted much of... Read more ›
0
Money may not be able to buy happiness, but who’s to say it can’t generate a pretty nice ROI when it comes to love? Go ahead and test that theorem on romantic returns with our Valentine’s Day gift guide, which we assembled by talking with power couples in tech about what presents they’re giving each other this year and what they’ve given in the past. Their answers ranged from the... Read more ›
0
Be careful what you wish for, particularly if your wish is to sign Apple as a customer. That’s true whatever business you’re in, including, as The Information revealed this week, freight transport. As my colleagues Theo Wayt and Ann Gehan detailed in this report, freight firm Flexport’s biggest-name customer—one that hasn’t been disclosed before—is Apple. Flexport flies Apple products from Asian factories to U.S. cities. But the freight firm effectively... Read more ›
0
You rarely know where new technology is going to lead. In some ways, Apple's Vision Pro has seemed like a watershed product. Some believe it is the start of how computing will look five, ten, twenty years from now. Others think it is essentially a flat-screen television—the latest cool entertainment device. We debated that, of course, on the pod this week. We also welcomed our friend Brian Singerman, a partner... Read more ›
0
When pain clouds the present, the past can provide a welcome escape—a reality I see reflected on Pedro Franceschi’s face as we headed down Market Street in San Francisco last week. With the Muni trams crawling past us, he pointed out several of Brex’s former offices, narrating his startup’s high-speed rise: one at 580 Market (“Our first one! We were, like, 15 people then”) and another at 115 Sansome, a... Read more ›
8
In October, we identified 50 companies for the fourth edition of The Information 50 Most Promising Startups. Today, we’re revisiting our latest picks. In less than six months, more than one in five have raised fresh funding, despite a lackluster investing climate. In the fourth quarter of 2023, global venture funds invested less money in startups than in any quarter since early 2017, according to CB Insights. Read more ›
39
In 2015, fintech founder and eventual FDIC Chief Innovation Officer Sultan Meghji was sitting in a co-working space when a loud bang clapped through the room. It startled his colleagues, a group of founders from the St. Louis startup community, according to a person who was there. Meghji turned to a colleague and said the violent pop gave him flashbacks to the time he was shot. Many of Meghji’s former... Read more ›
12
Wonders never cease: Arm’s pre-IPO promise to investors that the chip design firm would soon show decent growth turned out to be true! The company’s stock rocketed as much as 60% on Thursday after Arm reported a better-than-projected 14% revenue increase in December-quarter revenues. You might be thinking that 14% is hardly home run territory, particularly in tech. Still, given that Arm’s revenue was flat in fiscal 2023, and the... Read more ›
0
Add Pinterest to the same boat as Snap: a social media company that’s showing growth in digital ads, but far from the strength that wowed investors after Meta Platforms results. Pinterest stock fell 9% in extended trading Thursday afternoon after revenue rose 12% to $981 million during the fourth quarter compared to a year earlier. That was slightly below investors’ expectations and in the middle of the company’s prior guidance.... Read more ›
0
Disney’s $1.5 billion investment in Epic Games values the Fortnite maker at $22.5 billion, a person familiar with the matter said. The price is about a 29% drop from where investors last valued the company less than two years ago. The investment makes the “Fortnite” maker one of the largest private, venture-backed companies to sell new shares at a steep discount since higher interest rates hit tech valuations. Disney’s $1.5... Read more ›
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Most popular sources
Business Insider
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23% 1 |
Tech Wire Asia
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22% 16 |
CNET
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8% 5 |
The Verge
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5% 4 |
Gizmodo
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5% 3 |
| View sources » | |
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28.11.2024 07:36
Last update: 07:31 EDT.
News rating updated: 14:32.
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