Wednesday, November 6

Tag: Peter Thiel

Secretive Silicon Valley Firm Palantir Accused of Bias Against Asians
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Secretive Silicon Valley Firm Palantir Accused of Bias Against Asians

The U.S. Department of Labor filed an administrative lawsuit against Palantir Technologies on Monday, alleging that the data analytics and security company systematically discriminated against Asian job applicants. The Privately held firm helps government agencies track down terrorists and uncover financial fraud. It raised $880 million in funding late last year, for a $20 billion valuation, and is considered one of Silicon Valley's most secretive companies. The lawsuit alleges Palantir routinely eliminated Asian applicants in the resume screening and telephone interview phases, even when they were as qualified as white applicants. Representatives for Palantir could not immediately be reached for comment. Palantir was co-founded by Peter Thiel and Joe Lonsdale, two of Silicon Valley's...
Gawker.com to Shut Down Next Week
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Gawker.com to Shut Down Next Week

U.S. internet publisher Gawker Media Group said on Thursday that it would shut down Gawker.com next week, ending the online news and gossip website's 14-year run. The decision comes two days after Univision Holdings Inc won a bankruptcy auction to acquire Gawker for $135 million, outbidding media company Ziff Davis LLC. Univision's winning bid for Gawker will go before a U.S. bankruptcy judge later in the day. Gawker - which also operates popular women's website Jezebel, tech blog Gizmodo and gaming website Kotaku - said near-term plans for the website's coverage and archives have not yet been finalized. "Our other sites, including Kotaku, live on, but losing the vibrant Gawker.com hurts," tweeted Stephen Totilo, editor-in-chief of Kotaku. Gawker sought bankruptcy in June after fa...
Gawker Media Asks For $22 Million Bankruptcy Loan Approval
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Gawker Media Asks For $22 Million Bankruptcy Loan Approval

Gawker Media LLC asked a U.S. bankruptcy court judge on Monday for permission to borrow up to $22 million from an affiliate of buyout firm Cerberus Capital Management LP to help it through its sale process, according to a court filing. The online publishing pioneer filed for bankruptcy last week after it failed to secure a postponement on paying $140 million to Hulk Hogan after it lost a lawsuit involving the publication of excerpts from a sex tape of the former pro wrestler. Media company Ziff Davis LLC has entered into an agreement to buy Gawker for $90 million, setting the floor for an opening bid in a court-supervised auction expected to take place at the end of July. The loan from Cerberus, which often invests in companies in financial distress, will help Gawker...