New York Times:
Former TikTok and ByteDance staff say TikTok CEO Shou Zi Chew’s power is limited, with ByteDance’s founder and other executives making most decisions — Shou Zi Chew, TikTok’s chief executive, is balancing how to be an autonomous leader while juggling the demands of the app’s Chinese parent company.
Paul Sawers / TechCrunch:
Stockholm-based autonomous and electric truck company Einride raised a $200M Series C from Northzone and others and $300M in debt from Barclays — Einride today announced a $500 million tranche of financing as it looks to expand its autonomous and electric trucks into new markets globally.
Kirsten Korosec / TechCrunch:
Internal email: autonomous delivery startup Nuro is laying off 300 people, or 20% of its workforce, to preserve cash, and says it has $1B on its balance sheet — Nuro, the autonomous vehicle delivery startup backed by Softbank, Google and Tiger Global Management, is laying off about 300 people …
Joanna Glasner / Crunchbase News:
Autonomous trucking software company Embark lost ~98% of its market value, or ~$5B, since going public a year ago via a SPAC merger, amid a sector-wide downturn — Out of all the beaten-down public companies in the autonomous driving space, Embark Technology stands out as a conspicuously terrible stock market performer.
Wall Street Journal:
Sources: ByteDance plans to expand its Resso music streaming service globally, starting with over a dozen markets excluding the US, and integrate it into TikTok — Company is negotiating with labels as it seeks more than a dozen new global markets — TikTok parent ByteDance Ltd …
Kirsten Korosec / TechCrunch:
Helm.ai, which uses an unsupervised learning approach to its autonomous driving software, raised a $31M Series C led by Freeman Group at a $431M valuation — A few bright spots remain in the autonomous vehicle industry even amid macroeconomic headwinds that have nearly shut off the spigot …
Kirsten Korosec / TechCrunch:
Helm.ai, which uses unsupervised learning to train models for its autonomous driving software, raised a $31M Series C led by Freeman Group at a $431M valuation — A few bright spots remain in the autonomous vehicle industry even amid macroeconomic headwinds that have nearly shut off the spigot …
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