7/23/24

Why Wiz said “no” to Google’s biggest offer ever

What would have been Alphabet’s biggest acquisition ever — buying cybersecurity company Wiz for $23 billion — is no more. Instead, the company plans to seek an IPO after reaching $1 billion in annual recurring revenue (double what it’s doing now), according to an employee email seen by the Wall Street Journal:

Wiz Chief Executive Assaf Rappaport said the company is now aiming for an initial public offering.
“Wizards, I know the last week has been intense, with the buzz about a potential acquisition,” he wrote. “While we are flattered by offers we have received, we have chosen to continue on our path to building Wiz.”

$23B

Wiz would have been Alphabet’s biggest acquisition ever

$1B

Wiz’s annual revenue goal before an IPO

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$100B

Nia Warfield

10h

Alphabet’s YouTube said it’s paid out over $100 billion to creators, artists, and media companies over the past four years — cementing its place as one of the internet’s biggest talent magnets. The Google-owned platform, which turned 20 this year, credited connected TVs as a major driver of growth.

YouTube said the number of channels earning over $100,000 from TV screens has surged over 45% in the past year alone. Meanwhile, ad revenue for YouTube grew double digits in Q2 to $9.8 billion, topping the Street’s estimates.

Nia Warfield

13h

Webtoon surges after Disney plans to invest and partner in digital push for brands like Marvel and “Star Wars”

Webtoon Entertainment shares jumped 36% in premarket trading Tuesday after Disney said it’s buying a 2% stake in the digital comics platform. The investment is part of a deal to bring Marvel, “Star Wars,” Pixar, and 20th Century Studios titles into a new streaming-style app run by Webtoon. The offering will launch in Q4 across the US and nine other countries.

“With a new platform that will combine our product and technical expertise with Disney’s full comic catalog, we’re giving new and longtime fans all over the world a new way to discover these legendary characters and stories,” said Junkoo Kim, founder and CEO of Webtoon Entertainment.

The platform is expected to host more than 35,000 titles, mixing archived comics with Webtoon originals. Disney+ perks could also be on the table, giving the service a natural tie-in to Disney’s broader streaming play.

The arrangement isn’t final yet: Disney’s stake and the platform details are still under negotiation. But with Webtoon’s ~155 million monthly active users, the partnership gives Disney a mobile-friendly channel for its comics while Webtoon gains the ultimate IP access.

Kodak’s new bet is the blind-box boom as it faces doubts over its survival

The film giant once dominated photography. Now it’s banking on Gen Z’s latest obsession to stay relevant.

Hyunsoo Rim9/15/25

Max Knoblauch

9/12/25

Amazon is testing adding GM electric vans to its EV delivery fleet dominated by Rivian

Rivian may have some competition in its electric delivery van division: Bloomberg reports that Amazon is testing a small number of GM’s BrightDrop vans for its fleet.

According to Amazon, the test currently only includes a dozen of the vehicles. Amazon’s fleet also contains EVs from Ford, Stellantis, and Mercedes-Benz.

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

Amazon Tests GM EV Delivery Vans in Bid to Meet Climate Goals

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

GETTING

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Chris Stokel-Walker9/12/25

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