Fidelity has cut Reddit valuation by 41% since 2021 investment
Fidelity, the lead investor in Reddit’s most recent 2021 funding round, has slashed the estimated worth of its equity stake in the popular social media platform by 41% since the investment, the latest high-profile write-down amid a weakening worldwide economy on public markets. Fidelity Blue Chip Growth Fund’s stake in
Read moreRocket Lab’s private mission to Venus slips to 2025
Rocket Lab’s mission to Venus, which was originally scheduled to launch last month, is “not imminent,” a spokesperson confirmed to TechCrunch. That means the mission will likely move ahead no earlier than January 2025, the only publicly stated back-up window for launch. “Our focus right now is on delivering customer
Read moreSalesforce could be repositioning itself as a data company
Salesforce reported earnings on Wednesday, and while it wasn’t quite the heady rush of last quarter’s unexpectedly strong offering, it was by all accounts decent. And as far as Wall Street is concerned, the numbers beat analyst’s expectations. Good on them, that always feels like a key investor metric when
Read moreMonthly crypto exchange volume tumbled in May, hitting 32-month low
Follow me on Twitter @Jacqmelinek for breaking crypto news, memes and more. Welcome back to Chain Reaction. Although there are a lot of builders in the crypto space, the total money being invested into the crypto market has hit 32-month lows in May. Cryptocurrency monthly exchange volume, which calculates spot
Read moreDrive times app ETA brings its handy location dashboard to CarPlay
Nearly a decade after its launch, ETA’s simple drive times app is finally making its way to Apple’s CarPlay. The newly updated app, which offers an alternative first step to planning a trip, isn’t meant to directly compete with mobile maps or other navigation apps. Instead, it serves as more
Read moreMeet me at the dog run
You’ll have to forgive me, I spent most of the morning thinking and writing about VR. In the lead-up to Apple’s expected headset announcement at WWDC next week, I did a one-person crash course into the world of extended reality, from its birth in the laboratories in the ’50s and
Read moreMore SpaceX Starlink terminals will go to Ukraine following new order from Pentagon
The Department of Defense said Thursday it is buying more Starlink terminals from SpaceX for use in Ukraine, as the conflict between that country and Russia wages well into its second year. The Pentagon provided little other details about the order, however, including the number of terminals it would purchase
Read moreTech investment portfolios suffer write-downs amid global economic slowdown
Some high-profile venture capital and private equity firms are slashing the valuation of their holdings, causing billions in apparent profits to evaporate as the economic downturn undermines the sustained growth of the last 13 years. The California Pension System, the largest pension system in the U.S. whose investments are sprinkled
Read moreStartups may have room to innovate as enterprise providers puzzle out how to price AI tools
Nearly every tech company seems to be working on AI tooling, and everyone is at least talking about using it. But how the heck are companies going to charge for it? There’s little clarity on the business model front, which contrasts with the clear optimism on the part of corporate
Read moreEA Sports is teaming up with Nike’s NFT sneaker project
Future EA Sports releases like EA FC (which is set to replace the FIFA brand name) is a likely candidate for Nike’s collectible NFT “wearables.” | Image: Electronic Arts EA and Nike have just announced a partnership that will bring select virtual assets created by .Swoosh, Nike’s Web3 marketplace platform,
Read more