BeReal was the hot app among venture capitalists and Gen Zers in 2022, a feat it used to lasso a $585 million valuation from Coatue Management and DST Global that year. The app’s once-scorching growth has cooled—yet it still managed to sell itself to French gaming company Voodoo for $537 million. In this era of fire sales, that’s cause for a celebration.“You’re seeing an M&A market opening up that’s been... Read more ›
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For the last 24 hours, Apple’s newly unveiled artificial intelligence features have sucked up much of the oxygen in the room when it comes to tech headlines (more on that here). As many journalists remarked, Apple is playing catch up to some of its rivals, notably Google, whose AI-infused products have been in the wild for months. That’s enough time for creators to start worrying about how the new features... Read more ›
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On a basic level, none of the artificial intelligence Apple announced on Monday came as a surprise. But there's a big difference between a news report describing what Apple is going to launch and seeing the finished product, and in that regard Apple delivered a cogent presentation that put Google's sprawling AI keynote from May to shame.Also, as promised, Apple gave plenty of prominence to OpenAI's ChatGPT for powering some... Read more ›
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Among the hundreds of American artificial intelligence startups launched in the last few years, those founded by China-born entrepreneurs exercised a unique advantage: They could hire less expensive, talented engineers based in China. Now, as the geopolitical battle between the U.S. and China increasingly extends to AI, these startups are scrambling to sever ties with their homeland. One example is two-year-old Opus Clip, whose generative AI video-editing tool allows creators... Read more ›
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Apple just delivered a master class in how to explain complex technology to ordinary people. Its presentation on Monday of how it will harness the latest artificial intelligence advances in its software was well done, to say the least. If you’ve been wondering exactly what AI can do—other than overhyped exercises such as designing a menu for a dinner party—you will now know. These are not world-changing advances, to be... Read more ›
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OpenAI has hired two Silicon Valley veterans in finance and product roles as it prepares to launch new consumer products and a high-profile partnership with Apple, according to a person with direct knowledge of the hires. Sarah Friar, who was most recently the CEO of Nextdoor, a social network for neighborhoods, is joining as the company’s first chief financial officer. Kevin Weil, who previously headed up product at Twitter and... Read more ›
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When Squarespace announced a deal to be taken private by private equity Permira for $6.9 billion last month, it ended an unhappy three-year chapter as a publicly listed company for the DIY website maker. Squarespace was one of the more than 100 tech firms that went public during the frothy days of 2021. Like many of those firms, the IPO has proved a dud. Squarespace went public at $50 but... Read more ›
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Excitement this morning about Apple's planned reveal of artificial intelligence features during its WWDC event for app developers is more than warranted. While it might not be as mind-blowing as the Kling AI video teasers from China’s Kuaishou last week, Apple’s expected improvements to Siri; new tools to let people automatically generate responses to emails and texts; and a possible chatbot app powered by OpenAI will be a crucial test... Read more ›
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China-founded fast fashion giant Shein lifted its net profit margin even as it posted slightly faster revenue growth in 2023, two people with direct knowledge of its finances said. That performance should help Shein lure investors for a highly anticipated initial public offering—if it can convince regulators to sign off. Shein recorded $32.2 billion in sales last year, up 40%, compared with 37% growth in 2022, despite rising competition from... Read more ›
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Mercedes-Benz and Stellantis last week froze construction of two European battery gigafactories they were building through a joint venture. The companies want to take a fresh look at the plants in hopes of reducing the price of their electric vehicles, driven in large part by the cost of the batteries, the most expensive component in an EV. If they can reduce the cost of their batteries, perhaps they can sell... Read more ›
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Open-source software has become a big business, even for some of the nonprofit organizations dedicated to coordinating the far-flung communities of programmers that contribute to open-source projects, usually without pay. That’s especially true of the Linux Foundation. That organization, which oversees the development of the Linux operating system, has seen its revenue soar over the 17 years since it formed, as it has grown to encompass hundreds of other open-source... Read more ›
3
Welcome, Weekenders! In this newsletter:A lone shining light in food tech’s dark ageThe best summer camps for grownupsPlus: A tremendous trek through the Grand Canyon; “Succession” in breeches and gowns; and a gamified interview show.Venture capitalists excel at many things. For starters, they’re quite good at losing other people’s money. They’re also quite good at taking deep bows and patting themselves on the back when they actually manage to make... Read more ›
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It’s early June, which means the kids are getting excited for months of uninterrupted summer playtime and pursuits. That begs the question: Why should they get to have all the fun? For many of those kids, a portion of that happens at summer camp. (And we had suggestions about those camps a few weeks ago.) For many grownups, a dose of summer camp-style living may be just what they need... Read more ›
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In just over a year, artificial intelligence startup Harvey raised three investment rounds to develop software that takes the drudgery out of legal paperwork. Now the company wants an even bigger war chest—one that could help it acquire other companies. The San Francisco startup has been talking to investors about raising $600 million at a valuation of at least $2 billion, more than double its valuation from a December financing,... Read more ›
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This was Jensen Huang’s week. As we saw when he appeared at the Computex conference in Taipei this week, Huang is now a fully fledged celebrity CEO. (See Qianer Liu’s report on Computex below). Fittingly, Nvidia also this week briefly passed Apple as the second most valuable company, with a $3 trillion market capitalization. It’s extraordinary that someone who runs a company that two years ago most people wouldn’t have... Read more ›
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Welcome to Episode 50! We haven't shied from talking about how brutal the startup market is right now. But that doesn't mean there aren't great things to build. So, this week we shared some thoughts on what WE would build, starting with a sector close to our hearts: media. Plus, Brit on the Life360 US IPO and my attempt to up my merch game. Apple Spotify YouTube Read more ›
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Three years before Reddit went public in March, CEO Steve Huffman made a big hire. He tapped Drew Vollero to be Reddit’s first chief financial officer, after Vollero had shepherded Snap as its CFO through an initial public offering in 2017.Vollero is one of the 31 top executives included in the Reddit Org Chart we published earlier today. Like Vollero, almost two-thirds of those leaders spent time at other digital... Read more ›
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Ahead of its initial public offering in March, Reddit trumpeted its digital advertising business, which accounts for nearly all of its revenue. So it’s fitting that nearly two-thirds of its top executives previously worked at companies that sell digital ads. At least 19 of the company’s 31 top executives previously worked at Google, Meta Platforms, Snap or other companies that sell ads, according to The Information’s new Reddit Org Chart.... Read more ›
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Has Nvidia peaked? That’s a question investors may be pondering today, after The New York Times report that the U.S. antitrust police have decided to open an inquiry into the chip maker. (It’s surely coincidental that the report came a day after Nvidia passed $3 trillion in market capitalization, making it the second most valuable company, above Apple and behind Microsoft, although it fell today just below Apple). It sometimes... Read more ›
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It’s been pretty bleak for venture capitalists in China over the last two years. U.S. pensions and endowments halted investments. Existing investors demanded cash distributions. Fundraising plunged. But lately China’s venture capitalists have decided they can’t wait until the downturn passes to hit the fundraising circuit.Several China-based fund managers are raising new U.S. dollar-denominated funds, according to a limited partner and a fundraising adviser who have spoken with these fund... Read more ›
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14.06.2026 22:44
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