Internet
As gaming sales slump, China’s Tencent signals a hot ad trend it’s betting on
Tencent runs the ubiquitous Chinese messaging app WeChat. The company has a short form video feature with in the app and has began to monetize that through video ads in the feed. Tencent said such ads could become a “substantial” source of revenue in the future. Budrul Chukrut | Sopa Images | Lightrocket | Getty […]
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Fiber optic technology powers the internet, and it’s a big business
Fiber-based networks make up the majority of the internet’s backbone. Fiber-optic subsea cables spanning thousands of miles connect continents together, exchanging data at nearly the speed of light. Meanwhile, the massive data centers that host all of our cloud-based applications also rely on fiber connections. Increasingly, these fiber connections are making their way directly into […]
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Tencent posts first ever revenue decline as tough gaming regulation, Covid lockdowns bite
Tencent has faced a number of headwinds in 2022 including a Covid-induced slowdown in the Chinese economy and a tougher market for gaming. Bobby Yip | Reuters Tencent posted its first ever quarterly year-on-year revenue decline as stricter regulations around gaming in China and a resurgence of Covid-19 in the world’s second-largest economy hit the […]
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Amazon workers at warehouse near Albany file petition for union election
Workers and supporters hold signs after filing a petition requesting an election to form a union outside the National Labor Relations Board (NLRB) regional office in the Brooklyn Borough of New York, on Monday, Oct. 25, 2021. Gabby Jones | Bloomberg | Getty Images Amazon workers at a warehouse in upstate New York have filed […]
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Amazon workers walk out over pay, safety concerns at major California air hub
An Amazon-branded Boeing 767 freighter, nicknamed Amazon One, flies over Lake Washington during the Seattle Seafair Air Show on Aug. 5, 2016 in Seattle. Getty Images Amazon workers at the company’s largest air hub in California walked off the job earlier this week to demand higher pay and safety improvements. The work stoppage on Monday […]
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Amazon is raising seller fees for the holidays to manage through surging inflation
Amazon.com Inc. packages sit in front of a FedEx Corp. delivery truck in New York. Christopher Lee | Bloomberg | Getty Images In its latest effort to contend with soaring inflation, Amazon is planning to raise fulfillment fees during the holiday season, passing off some of its increased costs to the millions of merchants who […]
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China’s $370 billion tech giant Tencent could post its first revenue decline on record
People walk past a Tencent sign at the company headquarters in Shenzhen, Guangdong province, China August 7, 2020. David Kirton | Reuters Tencent could post its first year-on-year revenue decline on record when it reports second-quarter earnings on Wednesday, according to analysts, as a Covid-induced slowdown in the Chinese economy and continued challenges in the […]
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Chinese food delivery giant Meituan tanks 9% after Tencent reportedly plans to divest $24 billion stake
Meituan is one of China’s largest food delivery companies. Delivery drivers can be seen zipping around Chinese cities. Tencent first backed rival Dianping in 2014 which merged with Meituan to form the current company. Jade Gao | AFP | Getty Images Shares of Chinese food delivery giant Meituan plunged 9% on Tuesday after Reuters reported […]
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Apple reportedly plans to put ads in more apps on your iPhone
iPhone 13 Pro Source: Apple Inc. Apple may expand its advertising to more of its first-party apps on the iPhone in an effort to boost revenue, according to Bloomberg. The company generates about $4 billion in annual revenue from its ad business but wants to grow the segment into the “double digits,” according to the […]
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Unity shares drop 7% after board rejects acquisition by AppLovin
Unity shares tumbled 7% on Monday, after the video game software company’s board rejected a bid to be acquired by AppLovin. Unity announced on Monday that AppLovin’s $20 billion bid was “not in the best interests of Unity shareholders.” AppLovin offered to buy Unity for $58.85 per share last week, which was a premium of […]
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