Erin Woo, The Information

Erin Woo

The Information

San Francisco, CA, United States

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Past articles by Erin:

Apollo Asks VCs to Back Its Bid For Silicon Valley Bank Assets

Private equity giant Apollo Global Management has asked major venture capital firms to help finance a bid for the assets of Silicon Valley Bank, according to a person with knowledge of the discussion. Earlier, The Information reported that several firms, including General Catalyst, Andreessen ... → Read More

Silicon Valley Bank CEO Tells VC Clients to ‘Stay Calm’

Silicon Valley Bank CEO Greg Becker on Thursday told top venture capitalists in Silicon Valley to “stay calm” amid concerns around a capital crunch that wiped nearly $10 billion off the bank’s market valuation. On a call, Becker said that “calls started coming and started panic.”He added that ... → Read More

Musk Tells Twitter Staff to Pause Development Amid Outage

Elon Musk told employees on Wednesday afternoon to pause feature development as Twitter staff worked to solve an outage that left users unable to tweet or send and read direct messages for more than an hour. “Please pause for now on new feature development in favor of maximizing system stability ... → Read More

Musk’s Twitter Has Just 180,000 U.S. Subscribers, Two Months After Launch

Around 180,000 people in the U.S. were paying for subscriptions to Twitter, including Twitter Blue, as of mid-January, or less than 0.2% of monthly active users, according to a document viewed by The Information. The tiny number signals the challenge Elon Musk faces in turning the subscription ... → Read More

Stripe in Talks to Raise Up to $3 Billion From Current Investors

Less than a week after telling employees that it would evaluate a public offering over the next year, payments giant Stripe is moving quickly on a deal to raise as much as $3 billion from its existing investors. The talks, which have heated up in recent days, are likely to value the company at ... → Read More

Musk’s Twitter Intentionally Suspended Tweetbot, Third-Party Apps, Messages Show

The mysterious outage of Tweetbot and other third-party Twitter clients that began Thursday night was an intentional suspension, according to internal messages viewed by The Information. The suspension cut off the ability of people to use Twitter on outside apps, forcing them to go to Twitter’s ... → Read More

Instacart Cuts Internal Valuation by Another 20% to $10 Billion

Instacart, the grocery delivery startup that bankers expect will list its shares publicly next year, has cut its internal valuation to around $10 billion, according to two people familiar with the situation. The new valuation is 20% lower than the one it had in October and nearly 75% lower than ... → Read More

Musk May Have Found a Hardcore Leader for Twitter

Like many new dads, The Boring Company CEO Steve Davis spent the first few weeks of fatherhood sleeping near his partner and newborn. Unlike other new fathers, Davis and his family were sleeping in an office—a makeshift bedroom at Twitter’s San Francisco headquarters, where Davis has spent the ... → Read More

Twitter Has a New Wave of Layoffs, in Public Policy Team

Elon Musk continued to whittle down Twitter’s shrunken workforce on Wednesday night, laying off members of its public policy team, said two people familiar with the matter. Slashing that team could hamper Twitter’s ability to deal with regulators and politicians, even as the Federal Trade ... → Read More

Former FTX Executive Brett Harrison in Talks With Investors for New Crypto Startup

Brett Harrison, the former president of FTX’s U.S. arm, is trying to raise money for a new crypto startup focused on building crypto trading software for big investors, according to two people with direct knowledge of the matter. Harrison has told at least one venture capital firm he is aiming ... → Read More

Twitter Plans to Fire Employees by Email

Twitter employees will be notified by email by 9 a.m. Pacific Standard Timeon Friday whether they will be laid off, according to a communication sent out to all Twitter employees on Thursday evening. It was the first employee-wide communication since Elon Musk closed his takeover of the social ... → Read More

Who’s Rising at Twitter as Musk Overhauls Executive Ranks

Twitter’s chief marketing officer, Leslie Berland, became at least the ninth senior executive to depart the company since Elon Musk took control last week, in what appears to be a virtual clean sweep of the senior management. The departures put the spotlight on the Twitter staffers who are ... → Read More

Instacart Cuts Internal Valuation Third Time, to $13 Billion

Instacart, the instant delivery company gearing up to go public, has slashed its internal valuation to about $13 billion, according to two people familiar with the matter. It’s the third time the San Francisco startup has reduced its internal valuation this year, in a period when public delivery ... → Read More

Coatue General Partner Matt Mazzeo Departs to Launch Fund

Matt Mazzeo, a general partner at New York-based investment firm Coatue Management since 2018, has left to start his own investment fund, according to two people with direct knowledge of the matter. Mazzeo’s deals at Coatue, one of the world’s biggest private tech investors, included augmented ... → Read More

Instacart Sitting Tight on IPO Even As Mobileye Pushes Ahead

It’s been a slow year for tech initial public offerings. Companies have held off as the market has spiraled down in one of the most intense slumps in years. But Friday’s IPO filing by Intel-controlled self-driving–tech firm Mobileye shows some companies are still ready to pounce if the ... → Read More

Instant-Delivery Startups Are Running Out of Options

Instant-delivery startup Gorillas is on the hunt for a deal. It has been exploring everything from a merger with Berlin-based rival Flink to raising money from existing investors, according to four people familiar with the situation. Investors are still proposing various options and no term ... → Read More

Food Delivery Wars Heat Up as 7-Eleven Quietly Acquires a Delivery Startup

7-Eleven, the Japanese-owned convenience store chain, has acquired Skipcart, a four-year-old startup that developed a major network of drivers for fast delivery of restaurant food and other goods in the U.S., according to twopeople with knowledge of the deal. The move is significant because it ... → Read More

Carta Has Had Talks to Acquire Vauban, a European AngelList-like Startup

Financial services startup Carta has been in talks to acquire Vauban, a London-based startup that provides software for raising venture capital funds and investing capital, according to two people familiar with the matter. Carta, which builds software for startups and investors to track their ... → Read More