Techmeme
May 6, 2022, 3:40 AM

Top News

Dan Primack / Axios:
Filing: Elon Musk raises $7.14B for his Twitter bid from Saudi Prince Alwaleed, Larry Ellison, Sequoia, VyCapital, Binance, a16z, and others; Ellison gives $1B  —  Elon Musk on Thursday disclosed a group of co-investors in his Twitter takeover.  The names are impressive, but most of their check sizes aren't.
Annie Palmer / CNBC:
Sources: Elon Musk is expected to serve as the temporary CEO of Twitter for a few months after he completes his $44B takeover of the company  —  - Elon Musk is expected to serve as a temporary CEO of Twitter for a few months after he completes his $44 billion takeover of the social media company, according to CNBC's David Faber.
New York Times:
Edwin Chan / Bloomberg:
Wall Street Journal:
Whistleblowers: Meta deliberately took down Pages for hospitals and other Australian institutions in 2021 as a negotiating tactic over the news bargaining law  —  When Facebook blocked news pages last year to pre-empt Australian legislation that would force it to pay for content …
Ian Sherr / CNET:
Michael Bellusci / CoinDesk:
Block reports Q1 revenue down 22% YoY to $3.96B, vs. $4.1B est., profit up 34% YoY to $1.29B, and Cash App bitcoin revenue down 51% YoY to $1.73B; stock up 5%+  —  Fintech and digital payments giant Block Inc. (SQ) reported first-quarter earnings that missed analyst expectations on Thursday …
Ian Sherr / CNET:
Apple, Google, and Microsoft plan to offer the FIDO Alliance's passwordless tech on websites and apps, using fingerprint readers, face scanners, and smartphones  —  What's happening  —  Why it matters  —  What it means for you  —  If Apple, Google and Microsoft have their way …
Jordan Novet / CNBC:
Amazon stock closes down ~8%, Meta ~7%, Apple ~6%, Alphabet ~5%, and Microsoft ~4% as a Big Tech selloff pushes the Nasdaq to its steepest drop since June 2020  —  - Cloud and e-commerce stocks were among the biggest losers on Thursday on disappointing earnings reports and after the U.S. central bank raised interest rates.
Natasha Mascarenhas / TechCrunch:
Sources: On Deck, which connects founders with capital and advice, laid off 25% of its staff, or ~72 people, after raising ~$40M of a planned $100M-$150M fund  —  On Deck, a tech company that connects founders to each other, capital and advice, has laid off 25% off its staff, per sources familiar with the company.

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