Core Insights - Walmart has completed its acquisition of Vizio, a popular television maker, to enhance its advertising business [1] - The acquisition is valued at $2.3 billion and aims to position Walmart as a leader in connected TV advertising [2] - The integration of Vizio into Walmart's advertising platform will allow for better competition against major players like Amazon, Google, and Roku [2] Strategic Objectives - The acquisition allows Walmart to merge its retail operations with TV hardware, gaining direct access to customer data on viewing habits and shopping preferences [3] - This data can be utilized to tailor advertisements, improve product offerings, and create a personalized shopping experience for consumers [3] - Vizio TVs are expected to feature a significant number of ads for Walmart products, enhancing brand visibility [3] - Walmart will also gain control of Vizio's WatchFree+ streaming service, further expanding its advertising reach [3]

Core Insights - ThredUp has divested its European business to concentrate on its domestic U.S. market, following a management buyout led by Florin Filote, the new general manager for European operations [1][4][7] Company Overview - Founded in 2009, ThredUp specializes in secondhand clothing and accessories, raising over $300 million prior to its 2021 IPO. However, its market cap has significantly declined from $1.3 billion at IPO to a low of $60 million last month [2] Financial Performance - In Q2 2024, ThredUp reported an 18% year-on-year decline in European revenue to $13 million, with gross profit falling 25% to $3.6 million [3] - Following better-than-expected Q3 earnings, ThredUp's shares surged, bringing its market cap to nearly $200 million [4] Transaction Details - ThredUp confirmed a non-binding agreement for the buyout of Remix, with Filote acquiring 91% of the common stock for just €1, while ThredUp made a final cash investment of $2 million to support Remix as an independent entity [5] - The transaction includes a convertible promissory note issued to ThredUp by Remix for €61.6 million ($64.7 million), representing the investment made by ThredUp since acquiring Remix [6] Strategic Implications - The divestment allows ThredUp to focus on its core U.S. business, with confidence expressed in Remix's future under Filote's leadership [7]

At the start of the year, there were widespread concerns about how generative AI could be used to interfere in global elections to spread propaganda and disinformation. Fast forward to the end of the year, Meta claims those fears did not play out, at least on its platforms, as it shared that the technology had limited impact across Facebook, Instagram, and Threads.The company says its findings are based on content around major elections in the U.S., Bangladesh, Indonesia, India, Pakistan, the EU Parliament, ...

Microsoft is in the crosshairs of a U.K. competition class-action style lawsuit that’s seeking £1 billion (around $1.25 billion at current exchange rates) in damages. It revolves around accusations related to fees the software giant charged businesses and other organizations for licensing Windows Server when they were customers of rival cloud computing platforms.The suit, which was filed Tuesday in the U.K.’s Competition Appeal Tribunal, alleges that customers of Amazon’s AWS, Google Cloud Platform (GCP), a ...

Delaware Chancery court judge Kathaleen McCormick has denied Tesla’s request to revise her decision to strike down CEO Elon Musk’s $56 billion pay package — despite shareholders voting at the company’s annual meeting this year to “re-ratify” the deal. Her decision, laid out in a 103-page opinion published on Monday, explains that the attempt by Tesla’s legal team — which Musk has called “hardcore” — to change her mind contained multiple flaws, each of which were fatal on their own. Tesla has been expected ...

General Motors is selling its stake in the nearly completed Ultium Cells battery cell plant in Lansing, Michigan to its joint venture partner LG Energy Solution. GM’s step back from the factory comes amid weakening electric vehicle demand and the potential rollback of Biden administration incentives to produce clean energy domestically. GM and LGES initially teamed up in 2019 to form a joint venture to mass produce battery cells for electric vehicles. Since then, the two have poured billions into three fact ...

In Brief An Apple ad-tech employee filed a lawsuit against his employer on Sunday over how the company monitors its employees, reports Semafor.Apple wants its employees to use Apple devices for work but work-issued devices are so restricted that many employees use personal devices, or tie their work devices to their personal iCloud. To do so, the suit says, employees must allow Apple to install software that grants Apple access to search anything stored on the device or iCloud. The suit claims Apple’s polic ...

Company Valuation - Blackrock has reduced the value of its stake in Automattic by 10%, valuing its investment at $37.5 per share, down from $41.7 per share earlier this year [1] - The valuation reduction follows Automattic's publicized legal battle with WP Engine [1] Legal Dispute - Automattic and WP Engine are engaged in a legal battle after Automattic's CEO blocked WP Engine from accessing WordPress org [2] - WP Engine is seeking a preliminary injunction to regain access to WordPress org [2] Ownership Details - Blackrock owns only 0 6% of Automattic and holds no voting rights in the company [2]

Meta, the parent of Facebook, Instagram, and WhatsApp, is the second-biggest driver of internet usage globally. Its properties — and their billions of users — account for 10% of all fixed and 22% of all mobile traffic. Meta’s investments into artificial intelligence stand to boost that usage even further. So to make sure it will have reliable infrastructure to support that business, Meta is taking the pipes into its own hands.TechCrunch has confirmed with sources close to the company that Meta plans to buil ...

In Brief Amazon can finally close the book on a long-running state aid saga in the European Union. The Commission confirmed Thursday it’s shuttered an investigation into whether Luxembourg, the Member State where Amazon has its EU HQ, had granted it “selective tax advantages.” The upshot is Amazon has no unpaid taxes to pay.The case dates back almost a decade at this point. A major development came in 2017 when the Commission concluded Luxembourg had given Amazon illegal tax benefits worth €250 million. How ...