Stripe To Reduce Headcount By 14%
Stripe CEO Patrick Collison stated in a letter to staff that 2022 has been more difficult than previous years. The company blamed inflation, energy shocks, higher interest rates and lower investment budgets for the company's slowdown.
Go Deeper (2 min read)Big Tech Is Crashing
Amazon anticipates fourth-quarter revenue to be between $140 billion and $148 billion, up 2% to 8% from the same period last year. Refinitiv reports that analysts were anticipating sales to total $155 billion.
Go Deeper (2 min read)Meesho Is Catching Up
The app, which is only available in India, has 127 million downloads within the same time period compared to 81 million for Amazon and 50 million for Flipkart.
Go Deeper (2 min read)After two years of port congestion and container shortages, logistic issues are slowly easing as Chinese exports decline as a result of softer demand from Western nations and weaker global economic outlook.
Go Deeper (3 min read)Rivian, Still A Bubble?
Founded in 2009, Rivian Automotive, Inc. is an American manufacturer of electric vehicles and provider of automotive technologies. Its car a built on a so-called skateboard platform that can accommodate future vehicles or be adopted by other automotive companies.
Go Deeper (8 min read)More from Business
Home Sellers Are Getting Scarce
As the housing market cools, more homeowners are delaying their sales, causing the biggest drop in active property listings in more than two years. Due in part to a slowdown in homebuyer demand brought on by higher mortgage rates, homeowners are choosing to stay put.
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Tech's Cyber Threats
Uber's internal communications were momentarily hampered by a security breach, providing one of the most glaring examples of how digital businesses with access to the best expertise and resources can still be repeatedly compromised.
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Robinhood, Broken Promises?
The Menlo Park, California-based financial services firm Robinhood Markets, Inc. offers commission-free stock trading, exchange-traded funds, and cryptocurrencies using a mobile app that was launched in March 2015.
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JPMorgan Moves Further Into FinTech
To counter threats from fintech companies like Stripe and Block, JPMorgan Chase has agreed to buy a payments startup named Renovite.
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Apple's Ads Push
Apple wants to roughly double the personnel in its rapidly expanding digital advertising business. According to recruitment websites, the iPhone manufacturer's ad platforms team consists of roughly 250 employees.
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Volkswagen To Go Ahead With The Porsche IPO
Volkswagen and Porsche Automobil Holding SE, the Porsche family holding and the company's largest shareholder, announced their intention to proceed with the IPO of Porsche AG.
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