Duncan Riley
Latest from Duncan Riley
Facebook Inc. today appointed Adam Mosseri, previously Instagram’s vice president of product, to lead the photo-sharing social network following the resignation of co-founders Kevin Systrom and Mike Krieger Sept. 24. In an effort to allay fears of internal dissent, the announcement was made …
Ad chief Sridhar Ramaswamy leaves Google to join Greylock Partners
It’s the end of an era at Google LLC as Sridhar Ramaswamy, the internet giant’s senior vice president of advertising and commerce, left the company today after 15 years to take up a position with venture capital firm Greylock Partners. Ramaswamy (pictured), …
Facebook could face EU fine of up to $1.63B over latest data breach
Facebook Inc. could be fined as much as $1.63 billion by the European Union over a data breach revealed Friday that compromised the accounts of 50 million users. The Wall Street Journal suggested the figure Sunday, reporting that Ireland’s Data Protection Commission, which is …
Musk out as chairman but remains CEO as Tesla settles SEC lawsuit
Elon Musk is out as the chairman of Tesla Inc., but will remain chief executive, as part of a settlement of a lawsuit filed by the U.S. Securities and Exchange Commission that threatened to ban him as a director or executive of …
Feds called in as the Port of San Diego is crippled by a ransomware attack
The U.S. Federal Bureau of Investigation and Department of Homeland Security have been called in to investigate a ransomware attack that has crippled the computer network of the Port of San Diego. In a statement statement Wednesday, the Port Authority said that experienced …
Cloudflare seeks to disrupt domain registration market with cut price new service
Content delivery network provider Cloudflare Inc. is seeking to disrupt the domain name registration market with a new service that promises to only charge the wholesale cost, without profit, for domain names. Cloudflare Registrar, pitched Thursday as “domain registration you can love,” …
Swiss ‘cryptobank’ startup SEBA raises $102M in funding
SEBA Crypto AG, a Swiss startup founded by former UBS Group AG managers has raised 100 million Swiss francs ($102 million) in funding to build what is described as a “cryptobank.” The funding came from domestic and foreign institutional and private investors, including BlackRiver …
SEC sues Elon Musk, seeks to have him banned as a company director, Tesla stock drops 14%
Erratic genius Elon Musk’s days as the head of Tesla Inc. may be numbered as the U.S. Securities and Exchange Commission today not only sued him but is seeking to have him banned as an officer or director of any public company. …
Cryptocurrency hardware maker and miner Bitmain files to go public in Hong Kong
Chinese cryptocurrency hardware maker and miner Bitmain Technologies Inc. is going public, filing paperwork today for an initial public offering with The Stock Exchange of Hong Kong. Founded in 2013, Bitmain manufactures its own cryptocurrency mining equipment and also operates the world’s largest bitcoin mining …
Ahead of a 2019 IPO, Lyft doubles revenue in the first half of the year
Ride-hailing startup Lyft Inc. is booming as it heads toward an initial public offering next year, according to a report published Wednesday. Quoting internal Lyft documents, The Information reported that Lyft more than doubled its revenue in the first half of the year, …