Paper, the online tutoring unicorn, just had a second round of layoffs. The cuts come a year-and-a-half after raising $270 million in Series D funding.
Paper, an edtech unicorn focused on online tutoring for K-12 students, has laid off staff. The startup raised $270 million in Series D funding last year but had recently come under scrutiny. The cuts come as edtech startups are facing increasing pressure amid a downturn. Insider has learned that the Canadian online tutoring startup Paper…
Dropoff in venture capital funding triggers uptick in pre-emptive deals with investors desperate to back the hottest startups
Venture capital funding was cut in half in the first six months of 2023, according to Crunchbase. The dropoff has triggered an uptick in pre-empted deals, where investors back the most exciting startups. Payrails, Cello, and ElevenLabs are among the startups to close pre-emptive deals this year. In 2023, venture capital funding for startups has…
Here are the 9 smartest ways to invest in artificial intelligence right now, according to Bank of America, Morgan Stanley, and UBS
Some on Wall Street are concerned that investors are becoming swept up in the hype surrounding artificial intelligence, but three top investment firms are increasingly confident that AI will live up to its lofty expectations. Bank of America, Morgan Stanley, and UBS are more bullish on AI stocks after expressing reservations earlier this year as…
54% of influencers have already posted Threads sponsored content, according to a new report. Here are 3 other key takeaways about the new Twitter rival.
Threads’ engagement is down, but influencers and brands are still very active on the platform. A new Izea report found 54% of influencers said they’d already posted sponsored content on Threads. Here are four Threads-related takeaways from the survey of about 1,200 social-media users. While the number of daily active users on Threads has dropped…
Hopin, last valued at $7.8 billion, has sold its flagship virtual events business with founder set to step down as CEO
Hopin, last valued at $7.8 billion, said on Wednesday it has sold its virtual events business. RingCentral has acquired Hopin’s Events and Sessions product for an undisclosed fee. Hopin founder Johnny Boufarhat is also set to depart his role as CEO next month. Hopin, one of Europe’s fastest-growing startups in history, announced on Wednesday that…
A publicly traded media venture with ties to MoviePass’ former chairman has been suspended from Nasdaq and its stock is in free fall
Embattled digital-media company Vinco Ventures has been suspended by Nasdaq after a board exodus. It became a meme stock in 2021 after teaming up with the ex-chairman of MoviePass and touting buzzy acquisitions. Some of those deals have since faced hurdles and the stock has plummeted. Vinco Ventures, the publicly traded media venture with ties…
Leaked email shows Jeff Bezos’ Blue Origin is tightening its return-to-office policy: ‘Blue is a work-from-work company
Blue Origin tells many employees to be in the office 5 days a week, internal email shows. Last year, Blue Origin told managers it would be flexible about employee work schedules. Some other tech companies have less strict return-to-office policies for now. Insider has learned that Blue Origin, the space company owned by Amazon founder…
Broadcom is planning drastic job cuts at VMware as its acquisition of the cloud company nears completion
Broadcom is planning drastic cuts of VMware’s nonengineering staff, sources told Insider. Broadcom is preparing to close a $61 billion acquisition of VMware. Employees have been expecting layoffs after the deal closes. According to two sources familiar with the situation, Broadcom intends to make significant job cuts at VMware, with a focus on non-engineering positions.…
Leaked audio details Shopify’s plans for AI-first customer support as workers fear they’ll be replaced by AI
Shopify executives laid out their plans for an AI-first Support org during a recent town hall. It plans to use AI at multiple points of the customer-support experience. Some employees expressed concern that their jobs may not be safe. Earlier this month, Shopify executives unveiled a road map for the company’s support division, putting AI…
