Recode Daily: HQ Trivia raises money; BuzzFeed News needs money; Apple and Amazon make money

Recode Daily: HQ Trivia raises money; BuzzFeed News needs money; Apple and Amazon make money

ben February 2, 2018 0

HQ Trivia, the trivia app with a huge audience and a controversial founder, has raised a funding round that values the company north of $100 million. Founders Fund, the venture firm founded by billionaire Peter Thiel, is expected to lead the round of $15 million. The round is notable because several investors were scared off by the reputation of co-founder Colin Kroll, who had been fired by Twitter after it acquired his Vine startup. [Kurt Wagner, Theodore Schleifer / Recode]

Apple posted its biggest quarter ever yesterday — revenue passed $88 billion in the first fiscal quarter, up 13 percent year over year, with $20 billion in profit. But it still disappointed analysts beacuse of mediocre sales of the iPhone X. [Dan Frommer / Recode]

Amazon is no longer a company that consistently loses money. The e-commerce giant has posted a profit for 11 straight quarters — including a record $1.9 billion during the holidays. The company also reported that its “other” revenue — which mostly means advertising, plus its co-branded credit card agreements — increased to $1.7 billion in the fourth quarter. That’s 60 percent growth year over year. Amazon has baked AI into nearly all of its products and services — here’s how deep learning came to power Alexa, Amazon Web Services and other divisions. [Jason Del Rey / Recode]

Alphabet disclosed the revenue of its Google Cloud business for the first time yesterday, during a conference call about the Google parent company’s otherwise unremarkable Q4 earnings. Google CEO Sundar Pichai said the cloud is “already a billion-dollar-per-quarter business”; its rival, market-leading public cloud Amazon Web Services, generates roughly five times more revenue per quarter. [Jordan Novet / CNBC]

CBS and Viacom plan to merge (again). Shari Redstone, who controls both media companies, considered a possible deal in 2016 but changed her mind, believing that Viacom could turn around on its own. But a series of proposed mergers, kicked off by AT&T’s planned acquisition of Time Warner, is forcing comparably smaller media companies to look for larger homes. Take a look at this chart of the current media landscape, which explains why Redstone now supports a merger. [Rani Molla and Peter Kafka / Recode]

BuzzFeed’s news unit is looking for financial help, and has talked to a rep for billionaire Laurene Jobs Powell. But a BuzzFeed board member denied that the company wants to spin its news group off. Big picture: BuzzFeed News generates lots of attention, but little revenue. That used to be okay, but it’s harder for BuzzFeed to justify that in 2018. [Peter Kafka / Recode]

Top stories from Recode

Airbnb’s CFO is leaving after clashing with CEO Brian Chesky.

The fast-growing travel company has also elevated Belinda Johnson to the COO role.

The head of Boxed’s fastest-growing business is leaving amid sale talks with Amazon and Kroger.

Behzad Soltani joined the startup last year.

Biotech giant Moderna is now valued at $7.5 billion.

It’s now one of the country’s highest-worth startups.

Snapchat is now selling hats and sweatshirts inside its app — and testing out Snapchat’s commerce potential in the process.

Do people want to buy stuff inside Snapchat? Looks like Snap wants to find out.

How will Sonos compete against Apple’s HomePod?

CEO Patrick Spence explains Sonos’ answer to Apple, Amazon and Google on the latest episode of Too Embarrassed to Ask.

This is cool

Sign of the times: Monopoly for cheaters.

Source link