Herman Narula, co-founder and CEO of Improbable, speaks during a session at the Web Summit in Lisbon. Henrique Casinhas | Sopa Images | Lightrocket | Getty Images Metaverse company Improbable has sold one of its key gaming ventures to London-listed video game developer Keywords Studios for £76.5 million ($97.1 million). The company closed the deal … Read more
A Google, Temasek and Bain & Company report revealed that “dry powder” increased to $15.7 billion at the end of 2022, up from $12.4 billion in 2021. Mikroman6 | Moment | Getty Images Venture capital firms in Southeast Asia expect fundraising to pick up in 2024, but tech firms need to demonstrate “clear” and “viable” … Read more
A Rite Aid store stands in Brooklyn on August 28, 2023 in New York City. Spencer Platt | Getty Images The Federal Trade Commission proposed to bar Rite Aid from using facial recognition software in its drugstores for five years to settle allegations it improperly used the technology to identify shoplifters, the agency said Tuesday. … Read more
The headquarters of the U.S. Securities and Exchange Commission (SEC) is seen in Washington, D.C., May 12, 2021. Andrew Kelly | Reuters Laura Tyler Perryman, co-founder and former CEO of the medical device startup Stimwave Technologies, was charged with allegedly defrauding investors out of $41 million by making “false and misleading” statements about one of … Read more
SUQIAN, CHINA – OCTOBER 28, 2023 – Photo illustration X, Suqian, Jiangsu Province, China, October 28, 2023. (Photo credit should read CFOTO/Future Publishing via Getty Images) Future Publishing | Future Publishing | Getty Images The European Union has opened infringement proceedings into social media platform X, previously known as Twitter, over suspected failure to combat … Read more
A Vans store is seen in Hong Kong. Budrul Chukrut | LightRocket | Getty Images Shares of The North Face and Vans owner VF Corp. tumbled Monday after the company reported that a hack had affected its ability to fulfill some orders ahead of the holidays. The company said hackers encrypted “some” systems and made … Read more
WASHINGTON, DC – SEPTEMBER 13: OpenAI CEO Sam Altman speaks with reporters on his arrival to the Senate bipartisan Artificial Intelligence (AI) Insight Forum on Capitol Hill in Washington, DC, on September 13, 2023. (Photo by Elizabeth Frantz for The Washington Post via Getty Images) The Washington Post | The Washington Post | Getty Images … Read more
The Grinch Source: Universal Studios It’s human nature for a new year to bring optimism and hope. For executives, investors and employees in the entertainment and telecommunications industries, 2024 is set to disappoint. Maybe that’s too grinchy. Some things will get better. The actors’ and writers’ strikes are over. The 2024 U.S. presidential election should … Read more
Adobe and Figma, the cloud-based design tool, will terminate their planned $20 billion merger in light of regulatory hurdles, the companies said Monday. In a statement, the two companies said, “there is no clear path to receive necessary regulatory approvals from the European Commission and the UK Competition and Markets Authority.” Adobe shares rose around … Read more
Customers shop at a Walmart store in Chicago on May 18, 2023. Scott Olson | Getty Images Affirm stock popped more than 15% Tuesday after the company announced it is expanding its partnership with Walmart to self-checkout kiosks in more than 4,500 of the retailer’s U.S. stores. Affirm shares have soared over 400% this year, … Read more
