Computers and the Internet Archives

Instacart Prices IPO at $30 a Share, Raising $660 Million

September 18, 2023November 10, 2023 Technology

Instacart has priced its shares at $30 each for its IPO, raising $660 million. The company’s valuation stands at $9.9 billion, significantly lower than its previous funding round. This successful IPO may give hope to other companies planning to go public. Instacart’s expansion into advertising and software tools has allowed it to turn a profit, despite pandemic-related setbacks. The company received significant investments in its IPO shares, attracting Wall Street investors back to the market. Apoorva Mehta, the co-founder of Instacart, owns an 11 percent stake worth $869 million at $30 per share.

U.S. Accuses Google of Antitrust Tactics as Trial Begins

September 13, 2023November 23, 2023 Technology

Google is facing accusations from the U.S. government and states in its first monopoly trial concerning online search. The trial will determine whether Google has violated antitrust laws by using its dominant position to exclude search engine competitors. While the government argues that Google has strategically wielded its power to secure default search agreements with companies like Apple, Google maintains that users have multiple choices for online search. This case is part of a broader push to regulate the power of tech giants and could have far-reaching implications for the industry.

US Sets Sights on Google in First Monopoly Trial of Modern Internet Era

September 6, 2023November 23, 2023 Technology

The U.S. government’s first monopoly trial of the modern internet era, targeting Google’s core search business, has begun. The trial will determine whether tech giants like Google became dominant by breaking the law. If successful, the trial could have significant ramifications for the largest internet companies, potentially slowing down or dismantling their growth.