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 ›
0
Lyft reported 41% higher revenue of $1.4 billion in the second quarter, far outpacing the 17% expansion in its gross bookings, a sign that the no. 2 ride hailing firm is keeping more of the fares from its business. The company also reported solid free cash flow of $256 million, compared with ... Read more ›
0
Disney said it turned a profit in its combined streaming businesses for the first time, driven by its ESPN+ subscription service, according to the company’s latest earnings report. ESPN+ saw a profit of $66 million, which helped Disney’s streaming services eke out a profit of $47 million during ... Read more ›
0
Techstars, a startup accelerator based out of New York, has laid off 17% of staff, or 46 people, according to a letter sent by CEO and co-founder David Cohen to the company’s staff and a person who spoke to the company’s leaders. The cuts, which haven’t been previously reported, mark the ... Read more ›
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Airbnb shares fell 17% in after hours trading after it warned that revenue growth in the current quarter would slow from the second due in part to “some signs of slowing demand from U.S. guests” during the summer travel season. The short-term rental company expects revenue in the third quarter, ... Read more ›
0
You might not know it from the news of the past few days, but weather-wise we’re in the dog days of August. And that’s an ideal time to try Meta Platforms’ Ray-Ban smart glasses (no one wants to walk around wearing sunglasses in the winter gloom). Based on my personal experience, Meta Platforms CEO Mark Zuckerberg is onto something when he predicts these eyeglasses will be a “really big product.”I... Read more ›
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Reddit reported a 54% increase in revenue to $281 million, as its efforts to expand its ad business paid off, along with a surge in data licensing from its deals with AI companies. Reddit projected slightly slower growth in the third quarter of around 45%, sending the company’s stock down ... Read more ›
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There must be something in the air in Silicon Valley, because founders are leaving their companies left and right. OpenAI, still recovering from its board’s short-lived ouster of CEO Sam Altman, has seen a steady stream of co-founders depart this year. The latest example is John Schulman, who’s joining rival artificial intelligence company Anthropic. He follows founding members Andrej Karpathy and Ilya Sutskever out the door. These exits have left... Read more ›
19
Crypto executives and other industry boosters are racing to get face time with Vice President Kamala Harris and her representatives ahead of November’s presidential election, seeing a chance for a fresh start after a bruising crackdown under President Joe Biden’s administration. Industry groups including the Blockchain Association are among those requesting meetings with Harris, the presumptive Democratic nominee, and her campaign team, according to Kristin Smith, the organization’s CEO. “She... Read more ›
1
A weak July jobs report last week has been rocking the stock market. But in the creator economy, hiring has been picking up—at least as of the second quarter. The number of open roles at creator-related companies rose 66% during the second quarter compared to the first three months of the year, according to Creator Economy Jobs, a job board focused on the sector. Interest from job seekers is growing,... Read more ›
0
Instacart reported 15% year-over-year growth in second quarter revenue, although its operating income fell by about half on sharply higher expenses, particularly in research & development and sales & marketing. Instacart’s transaction revenue rose 17%, a much stronger rate of growth than ... Read more ›
0
Amazon’s top executive in India is leaving the company, a company spokesperson said Tuesday. Country manager Manish Tiwary, who has led the company’s India business since 2020 amid intensifying competition from Walmart-owned Flipkart and other local firms, will leave in October “to pursue an ... Read more ›
0
Disney is raising the prices of some of its streaming services and bundles starting in October, as the company launches new viewing features designed to increase the amount of time users spend on its services while driving more advertising revenue. Starting October 17, Disney said the price of ... Read more ›
3
X is filing an antitrust lawsuit against an advertising industry coalition and some of its members, alleging the group abused its influence on advertisers to boycott the platform, X’s CEO Linda Yaccarino announced in a video. The lawsuit is against the Global Alliance for Responsible Media and ... Read more ›
1
There’s no question that Nvidia has benefitted the most from the AI wave so far. So much so, in fact, that the U.S. Department of Justice is investigating complaints that the chipmaker is engaging in anticompetitive behavior, Anissa, Amir and I reported last week.But luckily for the host of rivals hoping to take a slice of Nvidia’s lucrative pie, the company’s popular chips do apparently have a weakness when it... Read more ›
0
Axios is laying off about 50 people across the company, according to Katie Robertson of The New York Times. In a note from Axios CEO Jim VandeHai shared by Robertson on Twitter, VandeHei cites factors including more readers shifting their attention to social media platforms, the ability for AI ... Read more ›
6
Uber reported sharply higher operating income of nearly $800 million in the second quarter, as revenue rose 16% to $10.7 billion, the ride-hailing and food delivery firm said Tuesday. The results show Uber’s cash generation expanding to $1.7 billion, up 51% on a year earlier, demonstrating ... Read more ›
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Klarna, the Swedish “buy now, pay later” firm, has been preparing what would be one of next year’s first big tech initial public offerings. First it wants to see if investors think it’s worth more than the roughly $7 billion valuation awarded during its last fundraising. The Sequoia Capital–backed startup has been in preliminary discussions with investment firms about their interest in buying shares held by existing shareholders, said a... Read more ›
1
A federal judge ruled on Monday that Google had acted illegally to maintain a monopoly in search and text-based advertising in search results, marking a major victory for the U.S. Department of Justice. The ruling by Amit Mehta of the U.S. District Court for the District of Columbia took aim at ... Read more ›
0
OpenAI President Greg Brockman is taking an extended leave of absence while the co-head of the startup’s post-training group, John Schulman, is departing to Anthropic in the latest of many personnel changes at the ChatGPT developer this year, The Information first reported on Monday. Both ... Read more ›
0
OpenAI President Greg Brockman is taking an extended leave of absence while the co-head of the startup’s post-training group, John Schulman, is departing to Anthropic in the latest of many personnel changes at the ChatGPT developer this year, The Information first reported on Monday. ... Read more ›
0
Most popular sources
Business Insider
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26% 9 |
Tech Wire Asia
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15% |
CNET
|
7% 1 |
The Verge
|
6% 3 |
Eurogamer.net
|
5% 3 |
| View sources » | |
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25.11.2024 23:39
Last update: 23:20 EDT.
News rating updated: 06:30.
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