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The FCC authorizes SpaceX to provide Starlink satellite internet to vehicles in motion, including commercial airlines, shipping vessels, and trucks
FTX closes in on a deal to buy embattled crypto lender BlockFi for $25 million
FCC's Brendan Carr writes to Apple and Google demanding they remove TikTok from app stores over China-related security concerns or provide statements by July 8
UK regulators investigate Kristo Käärmann, CEO and co-founder of money transfer company Wise, after tax authorities alleged he failed to pay a £720K+ tax bill
Three Arrows Capital has defaulted on a loan worth more than $670M
Amazon plans to host two Prime shopping events in a year for the first time, the second one set for Q4 2022, according to a notice sent to third-party merchants
Techmeme · 4 days ago
Zendesk agrees to be acquired by an investor group in an all-cash deal valuing the company at ~$10.2B and will go private once the deal closes; stock is up 25%+
Tel Aviv-based Jackpot, which is developing an app and website to make buying US state lottery tickets easier, raised a $35M Series A led by Accomplice
DocuSign says CEO Dan Springer "has agreed to step aside" and Chairman of the Board Maggie Wilderotter will serve as interim CEO; the stock is down 60%+ in 2022
In a letter, 21 US lawmakers ask Google to clamp down on "misleading" search results that steer people searching for abortions services to anti-abortion clinics
Police and retailers say robberies are on the rise due to the ease of reselling goods online, and Amazon, Facebook, and eBay are not doing enough to stop it
Techmeme · 2 weeks ago
TikTok's global business solutions head says TikTok is an entertainment platform, not a social network like Facebook, and hasn't seen a slowdown in ad revenue
Adobe reports Q2 revenue of $4.39B, up 14% YoY vs. $4.34B est., Digital Media revenue of $3.2B, up 15% YoY, and Digital Experience revenue of $1.1B, up 17% YoY
How Amazon entices creators to join its Influencer Program, which launched in 2017 and pays a commission for generated sales, by flying them to resorts and more
Techmeme · 3 weeks ago
Sources: "AI transformer" startups Inflection, Cohere, Adept, and Anthropic, which collectively raised $1B+, recently poached dozens of scientists from Big Tech
Alibaba's stock fell 8.1% on Thursday after its Ant Group unit said it has no plans to revive its IPO and a key regulator said it had not evaluated the listing
Stitch Fix is laying off 15% of its salaried workers or ~330 employees, reporting Q3 revenue of $492.9M, down 8% YoY, and net loss of $78M, up from $18.8M YoY
DocuSign reports Q1 revenue of $588.7M, up 25% YoY, vs. $581.8M est., and net loss of $27.4M, up from $8.4M in Q1 2021; stock drops ~20% after hours
A coalition including Amazon, Google, and Uber urges the DHS to let kids of high-skilled visa holders stay in the US past the age of 21 without a green card
Checkout.com partners with Fireblocks to let businesses accept and make payments using the USDC stablecoin
A look at Democrats' efforts to pass the AICO Act, which bans Big Tech companies from favoring their products, before the November midterms or end of the year
Former federal prosecutors say Do Kwon is unlikely to face prison time as it would be hard to prove intent to defraud, but fines and lawsuits are more likely
A profile of Javier Olivan, Meta's next COO who is credited for Facebook's global expansion; he doesn't expect to have the same public-facing role as Sandberg
Sheryl Sandberg is leaving Meta this fall after 14 years, and chief growth officer Javier Olivan will take over as COO; Sandberg will stay on Meta's board
Meta says it will change its stock ticker symbol to "META" prior to the market open on June 9
Salesforce reports Q1 revenue of $7.41B, up 24% YoY, vs $7.38B est., net income down 94% YoY to $28M, and operating cash flow up 14% YoY to $3.68B; stock up 6%+
A Twitter shareholder sues Elon Musk and Twitter over the handling of the acquisition and says Musk engaged in conduct "designed to create doubt about the deal"
Airspace, a logistics startup that uses AI to optimize time-critical deliveries globally, raises $70M led by DBL Partners, bringing its total funding to $138M
Twitter shareholders vote to remove Silver Lake co-CEO Egon Durban from the company's board; Durban is a long-time business associate and backer of Elon Musk
Nvidia reports Q1 revenue up 46% YoY to $8.29B, including Data Center up 83% to $3.75B and Gaming up 31% to $3.62B, forecasts Q2 below estimates; stock down 5%+
Filing: Elon Musk plans to provide an additional $6.25B in equity financing for his Twitter buyout, boosting his commitment to $33.5B; Twitter's stock jumps 7%+
Ripple's CEO says the company will explore an IPO once its lawsuit with the SEC ends and that its cross-border payments volume was up 700% YoY to $8B in Q1 2022
In a letter, 42 Democratic lawmakers urge Google to stop collecting and retaining unnecessary user location data that could identify people seeking abortions
Walmart plans to expand its drone delivery service with DroneUp to Arizona, Florida, Texas, Utah, and Virginia, bringing its total network to 37 sites in 2022
As Snap's growth warning sends its stock down over 41%, other social media stocks drop too: Meta by 9%+, Pinterest by 22%+, Alphabet by 6%+, and Twitter by 4%+
Tether Withdrawals Top $10B
Zoom reports Q1 revenue of $1.07B, up 12% YoY, vs. $1.07B est., ~199K Enterprise customers, up 24% YoY, and raises forecasted Q2 and full fiscal year earnings
Snap CEO warns employees the company will miss its Q2 revenue and earnings targets as its growth weakens, and plans to slow hiring; stock drops 29%+ after hours
eBay partners with NFT startup OneOf to launch 13 digital collectibles featuring Wayne Gretzky, and plans more sports NFTs throughout 2022, starting at $10 each
Sources: Airbnb to remove all mainland China listings for stays and experiences by this summer but will keep an office in Beijing focusing on outbound travel
A look at the autonomous vehicle industry, as CB Insights says equity funding for companies developing autonomous vehicles passed $12B in 2021, up 50%+ YoY
Tech stocks are mired in their longest weekly losing streak since dot-com bust
New York AG plans to investigate social media platforms "used to stream, promote, or plan" the Buffalo attack, including Twitch, Discord, 4chan, and 8chan
New York accuses Amazon of discriminating against pregnant workers and those with disabilities; the state seeks civil fines and an end to discriminatory conduct
Techmeme · 1 month ago