Articles from www.theinformation.com

Articles from www.theinformation.com

Sources: Flexport plans to lay off ~20% of workforce, its third round of cut in just over a year; it has ~2600 employees after cutting 20% of staff in October (www.theinformation.com)
2024-1-27

Source: Brex told employees it is cutting 282 jobs, or about 20% of its staff, saying it grew too quickly and its CTO and COO are giving up their positions (www.theinformation.com)
2024-1-24

Sources: Flexport is raising $260M from Shopify, one of its biggest shareholders; Shopify sold its logistics business to Flexport in exchange for equity in 2023 (www.theinformation.com)
2024-1-20 Equity Logistics Shopify

Source: Google has increasingly awarded select DeepMind researchers with large grants of restricted stock worth up to millions of dollars, to fend off OpenAI (www.theinformation.com)
2024-1-17 Google

Alphabet Union says Wednesday's layoffs at Google impacted more than 1,000 people, making it the largest round of cuts since January 2023 (www.theinformation.com)
2024-1-12 Google Layoffs Alphabet

Sources: former Twitter CEO Parag Agrawal's new AI startup, which is making software for LLM developers, raised ~$30M led by Khosla Ventures (www.theinformation.com)
2024-1-9 Startup AI Twitter

Source: Perplexity, a generative AI search engine with a Pro tier for file upload, choice of model, and unlimited queries, has doubled ARR since October to ~$6M (www.theinformation.com)
2024-1-9 AI

Design software company InVision, once valued at $2B, plans to shut down at the end of 2024, after raising $350M+ from Goldman Sachs, Spark Capital, and others (www.theinformation.com)
2024-1-5 Goldman

Memo: OpenAI plans to launch its GPT store next week; the store was originally slated to open in November, but it was delayed after OpenAI's leadership crisis (www.theinformation.com)
2024-1-5

Sources: OpenAI offered some media companies as little as between $1M and $5M per year to license their news articles for use in model training, a tiny amount (www.theinformation.com)
2024-1-5

TikTok Shop will raise its US seller fees from 2% to 8% over the next few months; a source says TikTok Shop has started reducing some subsidies for merchants (www.theinformation.com)
2024-1-4

Sources: Canva nears a deal to let longtime staff and investors sell $1B+ in stock to new investors at a $26B valuation, about the same as in a 2023 share sale (www.theinformation.com)
2024-1-3

Sources: OpenAI recently topped $1.6B in annualized revenue, up from $1.3B in mid-October; some OpenAI leaders believe OpenAI can reach a $5B ARR by 2024's end (www.theinformation.com)
2023-12-31

Sources: BuzzFeed is close to selling most of Complex Networks to livestream shopping startup Ntwrk for ~$100M, far below what Jonah Peretti originally sought (www.theinformation.com)
2023-12-30 Startup

Sources: Anthropic projects annualized revenue to be $850M+ by 2024's end, or ~$70M/mo, an increase of more than 8x from its monthly revenue around Sept. 2023 (www.theinformation.com)
2023-12-27

Filing: xAI incorporates as a for-profit benefit corporation, allowing it to prioritize having a positive impact on society over its obligations to shareholders (www.theinformation.com)
2023-12-27

Sources: Reddit expects 2023 ad revenue up 20%+ to slightly over $800M; ad executives say Reddit is asking them to increase their spending by ~20% in 2024 (www.theinformation.com)
2023-12-27 Reddit

Source: Cisco is paying around $650M in cash for Isovalent, or 32 times the startup's ARR; Isovalent was valued at $250M in a funding round in September 2022 (www.theinformation.com)
2023-12-23 Startup Cisco

Sources: Stripe's net revenue reached ~$1B in Q3 2023; the company generated $150M+ in operating income in Q3 and nearly $200M from January to September 2023 (www.theinformation.com)
2023-12-22

Sources: Anthropic is in talks to raise $750M in a round led by Menlo Ventures at a $15B valuation, tripling from spring 2023; its final valuation may top $18B (www.theinformation.com)
2023-12-21

Source: Google plans to reorganize a big part of its 30,000-person ad sales unit, as the company increases its reliance on ML to help customers buy more ads (www.theinformation.com)
2023-12-20 Google

Sources: AWS plans to overhaul its sales team as it aims to increase the share of Fortune 1,000 firms spending over $10M/year on AWS, from less than 20% to 80% (www.theinformation.com)
2023-12-20

Sources: Figma expects to finish 2023 with $600M+ in ARR, up 40% YoY, and is considering selling employee shares in a secondary offering in the coming months (www.theinformation.com)
2023-12-19

After Dave Willner's July exit from OpenAI as the head of the trust and safety team, OpenAI has broken up the team, whose vetting process some devs called slow (www.theinformation.com)
2023-12-19

A look at the race for wearable AI as Meta adds multimodal AI to its Ray-Ban glasses and a source says OpenAI discussed adding GPT-4 with Vision to Snap devices (www.theinformation.com)
2023-12-17 AI Ban

Sources: Google plans to use Gemini across its entire line of products, including an AI assistant called Pixie that will be exclusive to its Pixel devices (www.theinformation.com)
2023-12-15 Google AI

Etsy plans to lay off 11% of its workforce, or ~225 employees, as the e-commerce marketplace grapples with slow consumer spending and increased competition (www.theinformation.com)
2023-12-14

Sources: ByteDance cancels an upcoming VR headset from its Pico subsidiary, the Pico 5, after Pico 4 sales fell far short of expectations and the VR market sags (www.theinformation.com)
2023-12-14 VR

a16z-backed D2iQ, a cloud infrastructure startup formerly known as Mesosphere, is shutting down; D2iQ raised $250M and was valued at $775M in 2018 (www.theinformation.com)
2023-12-9 Startup

TikTok forms a task force to tackle hate speech and plans to open its research API to civil society groups, after complaints about viral Israel-Hamas war videos (www.theinformation.com)
2023-12-9 Israel

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