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August 2, 2022, 8:35 PM
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WeSmirchTop News
| Caitlin McCabe / Wall Street Journal: |
Robinhood plans to cut its headcount by ~23% over “additional deterioration of the macro environment”, after laying off ~9% of full-time employees in April 2022 — The job cuts mark the second round of layoffs for the online brokerage, which exploded in popularity during the Covid-19 pandemic
Source:
Under the Hood. More:
Engadget, NPR, PYMNTS.com, Silicon Valley Business …, Forbes, Protocol, The Information, TechCrunch, Fortune, Blockworks, The Verge, Reuters, and Fast Company
Tweets: @ronlieber, @michelezanini, @menlobear, @steveclapham, @rmac18, @seldo, @bullandbaird, and @quinnypig
| Ashley Capoot / CNBC: |
Robinhood reports Q2 revenue down 44% YoY to $318M, vs $321M est., a $295M net loss, down from $502M YoY, and MAUs down 1.9M QoQ to 14M in June 2022 — - Robinhood CEO Vlad Tenev said Tuesday in a press release that the company will reduce its headcount by approximately 23%.| Mengqi Sun / Wall Street Journal: |
New York's State Department of Financial Services fines Robinhood's crypto unit $30M for allegedly violating anti-money laundering and cybersecurity regulations — The New York State Department of Financial Services alleges that Robinhood violated anti-money-laundering and cybersecurity regulations
More:
The Block, The Verge, Observer, Watcher Guru, Gizmodo, The Register, HealthcareInfoSecurity.com, Finextra, The Block, Crowdfund Insider, CoinGape, CoinDesk, Protocol, CNBC, CryptoPotato, Decrypt, Crypto Briefing, Bitcoinist.com, Cointelegraph, Four Eyes Finance, Finbold, PYMNTS.com, Fast Company, CryptoSlate, and Tech News
Tweets: @carnage4life, @carnage4life, @carlquintanilla, @lex_node, @silvermanjacob, @wsjmarkets, and @seldo
| Adam Morgan McCarthy / The Block: |
MicroStrategy CEO Michael Saylor steps down and takes executive chairman role “to focus more on our bitcoin acquisition strategy”; president Phong Le named CEO — - Michael Saylor is set to step down from his role as CEO and become an executive chairman.
More:
CoinDesk, MicroStrategy, Decrypt, Web3 is going just great, Yahoo Finance, CoinDesk, The Verge, Blockworks, Decrypt, Bitcoin Magazine, Cointelegraph, and BTC Times
Tweets: @saylor, @concodanomics, @cryptowhale, and @kenziesigalos
| Washington Post: |
Sources: Nancy Pelosi is set to meet with TSMC's chairman Mark Liu to discuss implementation of the Chips and Science Act during her visit to Taiwan — TSMC is building a chip factory in Arizona — and considering constructing several on the site — in a project seen as key to U.S. national security| Bloomberg: |
The Chips and Science Act bars companies that get US federal funding from adding production of advanced chips in China, impacting Intel, TSMC, and others — As the US Congress passed an historic $52 billion federal program to boost domestic chipmaking capabilities, it included one significant caveat …
More:
Protocol, Nikkei Asia, Tom Merritt Tech Newsletter, TechSpot, Appuals.com, Tom's Hardware, and TechNode
Tweets: @chinabeigebook, @nikkeiasia, and @pstasiatech
| Mitchell Clark / The Verge: |
Samsung launches its iFixit repair program, covering Galaxy S20, S21, and Tab S7+ devices; S22 flagships are not supported and the number of repairs are limited — But not its latest phones and tablets — Samsung and Fixit have launched their repair program that lets Galaxy S20, S21 …
More:
Samsung Newsroom, iFixit News, TechCrunch, Gizmodo, MobileSyrup, How-To Geek, Ubergizmo, CNET, PCMag, Engadget, XDA Developers, 9to5Google, and ZDNet
| Michael Kan / PCMag: |
Court finds a former T-Mobile store owner guilty of hacking T-Mobile staff to access internal tools that he used to make ~$25M by unlocking customers' phones — Argishti Khudaverdyan was found guilty of various offenses after he stole login credentials from more than 50 different T-Mobile employees across the US.
More:
U.S. Department of Justice, BleepingComputer, and Dark Reading
| CNBC: |
AMD reports Q2 revenue up 70% YoY to $6.6B, vs $6.53B est., including Data Center segment sales up 83% YoY to $1.5B and Client segment sales up 25% YoY to $2.2B — - AMD reported earnings for the quarter ending in June that beat estimates. — The company gave a forecast for the current quarter …
Source:
Advanced Micro Devices, Inc.. More:
Thurrott, SiliconANGLE, Reuters, VentureBeat, and Wccftech
Tweets: @iancutress, @greengart, @bobodtech, @cnbc, @manpreetkailon, @cnbctech, @patrickmoorhead, @marketrebels, @benbajarin, and @investorvideos
| Prarthana Prakash / Bloomberg: |
Match Group misses on Q2 revenue up 12% YoY to $795M, vs. $804M est., and paying users up 10% YoY to 16.4M, vs 16.5M est.; stock down 22% on stymied growth — Match Group Inc. gave a forecast for revenue in the current quarter that fell far short of analysts' estimates with growth stymied …
More:
TechCrunch, Match Group, Barron's Online, and CNBC
| Natasha Mascarenhas / TechCrunch: |
Y Combinator narrows its Summer cohort size by 40% to ~250 companies, down from 414 in its Winter cohort, due to a downturn in the economy and in VC funding — Technically, the accelerator is more exclusive now — Y Combinator says it has intentionally shrunk the number of startups within its accelerator for the Summer 2022 batch.| Sofia Pitt / CNBC: |
Uber reports Q2 revenue up 105% YoY to $8.1B, above $7.39B estimates, a $2.6B net loss, and mobility gross bookings up 55% YoY to $13.4B; stock closes up 18.9% — - Uber reported a net loss of $2.6 billion for the second quarter, $1.7 billion of which was attributed to investments …
More:
Bloomberg, Wall Street Journal, Bloomberg, Financial Times, New York Times, Observer, PYMNTS.com, Washington Post, Fortune, The Guardian, TechCrunch, Coinspeaker, Fast Company, The Verge, Finbold, and Reuters
Tweets: @thestalwart, @treiner5, @treiner5, @thestalwart, @cnbc, @ldignan, @dondekojo, @eliotwb, and @sub8u
| Brian Newar / Cointelegraph: |
Hackers drain nearly the entire $190.7M in crypto from the Nomad token bridge, which raised an April 2022 seed from Coinbase, OpenSea, and five other companies — Hundreds of potential exploiters appear to have drained all of the bridge's $190 million in TVL in just a matter of hours. — 57 Total views
More:
Web3 is going just great, The Register, TechCrunch, Read and Share Twitter …, Bloomberg, Reuters, Input, Engadget, CertiK Blockchain …, CoinDesk, PYMNTS.com, CNBC, The Verge, Decrypt, Inside Bitcoins, Mashable, Coinspeaker, PaymentSecurity.io, Tech Monitor, The Record, Gizmodo, Chainalysis, The Coin Crunch, ETH Daily, PC Gamer, Security Boulevard, CryptoSlate, Crypto Briefing, and CoinDesk
Tweets: @nomadxyz_, @0xfoobar, @nomadxyz_, @nomadxyz_, @samczsun, @xiliangchen, @mg_486662, @fatmanterra, @0xfoobar, @paradigmeng420, @el33th4xor, @mudit__gupta, @cwgoes, @moonbeamnetwork, @nassyweazy, @moonbeamnetwork, @notifi_xyz, @samczsun, @chainlinkgod, @moonbeamnetwork, @0xfoobar, @silvermanjacob, @andysayler, @bloombergtv, @0xmisaka, @dzack23, @mmasnick, @cl207, @quantstamp, @jonrog1, @nickadobos, @0xfoobar, @benedictevans, @lorenzofb, @benedictevans, @levicook, @matthuang, @arjunbhuptani, @bradwilson, @cointelegraph, and @fatmanterra
| Sofia Pitt / CNBC: |
Airbnb reports Q2 revenue up 58% YoY to $2.1B, vs $2.11B est., $379M net income, up from a loss of $68M YoY, and a $2B stock buyback program — - Revenue jumped 58% year-over-year to $2.1 billion helping to drive the company's most profitable second quarter to date.| TechCrunch: |
LA-based MarqVision, which uses AI to monitor marketplaces for counterfeits, including of NFTs, raised a $20M Series A led by DST Global and Atinum Investment — As of 2020, the clothing sector lost about $27 billion in annual sales due to counterfeits, an illicit trade that results in huge losses to both brands and buyers.| BetaKit: |
Chicago-based investment research service Tegus has acquired financial data and analytics startup Canalyst, sources say for between CAD$400M and CAD$500M — Sources say deal is north of $400 million CAD. — Vancouver and New York-based capital markets data and analytics startup Canalyst … | Eliot Brown / Wall Street Journal: |
Sources: despite a November 2019 pledge to slow down, Masayoshi Son pushed SoftBank staff into investing $38B out of Vision Fund 2 across 180+ companies in 2021 — CEO Masayoshi Son pledged to curb his aggressive investment bets yet plunged into startups last year at the market top
Tweets: @eliotwb, @mattzeitlin, @alexfrangos, and @wsj
| Kyle Wiggers / TechCrunch: |
SEC filing: e-commerce marketing automation service Klaviyo raised $100M from Shopify; Klaviyo has raised ~$775M to date and was valued at $9.5B in May 2021 — Ecommerce marketing automation platform Klaviyo has received a $100 million strategic investment from Shopify … | Emily Bary / MarketWatch: |
PayPal reports Q2 revenue up 9% YoY to $6.8B, vs $6.78B est., a $341M net loss; stock up 11% on news of a $15B share buyback and Elliott Management's $2B stake — Elliott has a roughly $2 billion investment in PayPal, cheering ‘unmatched and industry-leading footprint,’ as payments company beats earnings expectations
More:
Reuters, Protocol, Bloomberg, CNBC, and Paypal - Investor Relations
Tweets: @epro and @fienixtaranova
| Denny Jacob / Wall Street Journal: |
EA reports Q1 revenue up 14% YoY to $1.77B, vs. $1.26B est., and net income up 52% YoY to $311M, vs. $101.6M est., but gives Q2 guidance below projections — Videogame company quarterly results top expectations on strength of soccer, racing games — Electronic Arts Inc. EA -1.51%▼ …
More:
VentureBeat, GamesIndustry.biz, Bloomberg, and Electronic Arts
| Shubham Saharan / Bloomberg: |
Parafin, which builds financing arms for companies to lend to SMBs, raised a $60M Series B led by GIC, bringing its valuation to $520M and total funding to $94M — Parafin, a financial-technology startup run by former Robinhood Markets Inc. staffers, raised $60 million in its second funding round.Sponsor Posts
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