Tag: Investment & Company Information
Rivian is halting construction of its $5 billion Georgia plant to save money
Rivian generally had a good day yesterday, launching the R2 SUV along with the surprise R3 crossover and dune buggy-esque R3X that were met with general acclaim. Buried in that press release, however, was the news that the automaker is halting production of its $5 billion Georgia plant in order…
Read MoreSaber Interactive may escape Embracer’s death hug and become a private company
Saber Interactive has reportedly found an exit strategy from the death grip of its parent company, Embracer Group AB. Bloomberg reported Thursday that “a group of private investors” will buy the studio in a deal worth roughly $500 million. Saber would then become a private company with about 3,500 employees.…
Read MoreEtsy is laying off 11 percent of its staff
Etsy is the latest company to lay off staff in 2023. CEO Josh Silverman confirmed the marketplace is letting go of 11 percent of its staff (around 225 employees) in its first significant staffing cut in recent years. It’s also reshuffling its leadership, including announcing two executives’ departures at the…
Read MoreThe FTC is reportedly looking into Microsoft’s $13 billion OpenAI investment
OpenAI’s recent drama hasn’t only caught UK regulators’ attention. Bloomberg reported Friday that the Federal Trade Commission (FTC) is looking into Microsoft’s investment in the Sam Altman-led company and whether it violates US antitrust laws. FTC Chair Lina Khan wrote in a New York Times op-ed earlier this year that…
Read MoreActivision Blizzard now officially belongs to Microsoft
The biggest acquisition in gaming history and one of the largest in the tech industry is in the books. Twenty months after the deal was announced, Microsoft has bought Activision Blizzard for $68.7 billion, the largest acquisition in the company’s history. CEO of Microsoft Gaming Phil Spencer has asked Activision…
Read MoreFacebook now has 2 billion users
Almost 20 years in, Facebook is still growing. The social network now has 2 billion daily active users, Meta reported alongside its fourth-quarter earnings. The report marks the first time Facebook, which added 16 million users last quarter, has reached 2 billion daily users. While Facebook isn’t the first Meta-owned…
Read MoreRecent Posts
- Microsoft says Copilot app in Windows Server was a mistake
- Netflix is all about the money, not the members
- DJI launches its own power stations to charge your drones when far from home
- It took 20 years for Children of the Sun to become an overnight success
- Senate advances vote on reauthorizing warrantless surveillance program
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