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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TikTok over the last year has been encouraging more creators to livestream, where they can sell products or earn digital gifts that convert to cash. To beef up its European business, it’s been trying to build out its payments functions. But these efforts have hit some snags. Earlier this year its parent ByteDance withdrew an application for a Irish payments license, according to two people involved in the negotiations. The... Read more ›
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Paramount Global wrote down the value of its business by $6 billion in the second quarter, the entertainment company reported on Thursday, following the lead of Warner Bros. Discovery which took a $9 billion writedown on its TV network businesses earlier this week. The writedown follows ... Read more ›
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The U.K.’s antitrust regulator said on Thursday it launched a formal inquiry into Amazon’s $4 billion investment in the artificial intelligence startup Anthropic. The Competition and Markets Authority said it had “sufficient information” about Amazon and Anthropic’s relationship to begin an ... Read more ›
0
Warby Parker reported 13.3% higher revenues of $188.2 million, helping it boost profit before interest, taxes, depreciation and amortization by 38% to $19.6 million. After a pandemic-era surge in growth, the eyewear maker’s revenue growth has hovered around the 12-13% level, depending on the ... Read more ›
0
Amazon’s e-commerce business is huge but slow-growing, while shopping on social media has been taking off. That’s prompted Amazon to look for ways to team up with popular social media apps. It’s finally landed a key partner, TikTok, an Amazon spokesperson confirmed, which will enable TikTok users to buy items from Amazon advertisements without leaving the TikTok app. Amazon also recently struck a similar arrangement with Pinterest, which has long... Read more ›
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For almost the entire time since DoorDash went public in late 2020 the restaurant-delivery service has traded at a premium valuation to Uber. Lately the gap between the two stocks has nearly closed, although the much bigger ride-hailing and delivery firm remains the underdog of the pair. While that made sense early on, when the pandemic blitzed Uber’s ride-hailing business and turbocharged DoorDash's service, things have changed. Uber's ride-hailing revenue... Read more ›
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The Federal Reserve Board announced an enforcement action against Customers Bank after identifying “significant deficiencies” related to its risk management and compliance with anti-money laundering rules for its services for crypto clients. After Silvergate Bank and Signature Bank closed last ... Read more ›
0
Google worked on a “marketing project” with Meta Platforms that allowed Meta’s Instagram to target teenagers with ads, effectively circumventing Google’s own policies against advertising to children, according to the Financial Times. The ads, which were designed to promote Instagram to 13- to ... Read more ›
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One of the newest entrants in the race to develop artificial intelligence that can reason through problems is about to raise a bunch more money. Harmonic, a startup cofounded last year by Robinhood CEO Vlad Tenev and self-driving vehicle entrepreneur Tudor Achim, has been in talks to raise funding from investors including Sequoia Capital and Index Ventures, according to an investor at a firm that has considered investing and a... Read more ›
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Snowflake had been riding high before the artificial intelligence boom. But questions about the usefulness of its data management products for AI developers—a growing source of revenue for rivals like Databricks—and a broader pullback in business software spending have sent its stock plummeting 42% so far this year. Now, in an effort to jump-start slowing revenue growth, Snowflake is discussing a partnership with Canadian AI model developer Cohere that would... Read more ›
38
A group of venture capitalists who have pledged to support Vice President Kamala Harris in her White House run said late Wednesday they had collectively raised more than $125,000 for a PAC called the Harris Victory Fund. On a web conference call Wednesday, they announced investor Ron Conway had ... Read more ›
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We’re in unstable times. Today’s stock market action, where a morning rally gave way to an afternoon sell-off, was the latest evidence. There’s surely lots of reasons for this volatility, but uncertainty about the economy has to be top of the list.Some quarterly earnings reports in the past couple of days demonstrated why investors might be uneasy. Disney today sparked alarms among its investors by reporting an unexpected “moderation of... Read more ›
0
Humane, a maker of an artificial intelligence-powered pin, has handled more returns of its $699 device than it sold between May and August, according to The Verge, which cited a source with knowledge of its financial data. Humane’s AI Pin brought in over $9 million in “lifetime sales” but more ... Read more ›
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If the Paris Olympics has shown us anything, it’s that athletes are going viral for more than winning medals in their sports. American gymnast Stephen Nedoroscik, who became known as “Pommel Horse Guy” after winning two bronze medals at the Games, has incited a social media storm of dad jokes and has caused boys to join gymnastics classes in droves. Similarly, Henrik Christiansen, a Norwegian swimmer, has posted more TikToks... Read more ›
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Robinhood reported record quarterly revenue of $682 million, up 40% from a year ago, driven by a surge in trading in crypto and equities. Crypto revenue jumped 161% from a year ago to $81 million, while equities revenue rose 60% to $40 million. Net income increased to $188 million, up from $25 ... Read more ›
0
Warner Bros. Discovery wrote down the goodwill value of its TV networks by $9.1 billion, citing uncertainties over its NBA rights and the softness it is seeing in the U.S. TV ad market. The writedown plunged the company into a loss of $10 billion for the quarter, compared with a loss of $1.2 ... Read more ›
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Meta Platforms is in talks to license its Horizon virtual reality software to Indian technology company Jio, according to three people with knowledge of the situation, the latest sign of how Meta is trying to extend its influence in VR and augmented reality beyond its own devices. The talks, which may not lead to a deal, center on Meta providing its Horizon software to power a VR device Jio would... Read more ›
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OpenAI CEO Sam Altman has long been interested in building an AI-powered device for consumers, similar to the one featured in Spike Jonze’s movie “Her.” He’s personally invested in wearable AI pin startup Humane and separately worked with ex-Apple designer Jony Ive on a personal AI device.Now OpenAI startup's fund, which invests in promising AI startups that are often also users of its conversational AI software, is backing another hardware... Read more ›
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Shopify’s revenue grew 21% year-over-year to $2.05 billion in the second quarter. That beat the company’s own outlook of high-teens growth, sending its shares up more than 20% on Wednesday morning. Shopify, which sells commerce software and merchant services including payments, reported a net ... Read more ›
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Zillow, the online real estate listings powerhouse, has tried for years to diversify its business away from advertising. It tried flipping homes but abandoned that effort after losing lots of money. Now, its biggest chance at branching out is using its strength in home listings and tight relationships with real estate agents to grow its mortgage business. The company may be walking a fine line. Under U.S. mortgage laws, it’s... Read more ›
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Most popular sources
Business Insider
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28% 5 |
Tech Wire Asia
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15% |
CNET
|
7% 2 |
The Verge
|
6% 3 |
Eurogamer.net
|
5% 3 |
| View sources » | |
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25.11.2024 22:47
Last update: 22:35 EDT.
News rating updated: 05:40.
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