Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Andre Penner / AP

Snap's IPO roadshow gets underway: Snapchat's parent company arrived at New York's Mandarin hotel on Tuesday to pitch dozens of investors who piled in to listen to the presentation over a turkey lunch. At stake is the $3.2 billion Snap hopes to raise in a couple of weeks, at a likely valuation of about $20 billion.

  • As expected, Snap's executives fielded many questions about its app's user growth, which they attempted to blame some of the slowdown on problems with the Android app. However some investors, according to Bloomberg, thought it was "not addressing the elephant in the room"—Instagram, that is.
  • On the subject of its multi-billion deals with Google and Amazon for cloud services, Snap told investors that it expects those costs to decrease over time and that it's open to building its own data centers.
  • CEO Evan Spiegel also shared a taste of what the company could do in the future as a "camera company:" Building three-dimensional maps of locations like theme parks, according to Bloomberg, though he didn't say there are any plans to pursue mapping.

Go deeper

Dan Primack, author of Pro Rata
3 mins ago - Economy & Business

Stuart Haselden steps down as CEO of luggage startup Away

Away co-founder Jen Rubio, who will step in as interim CEO. Photo by Craig Barritt/Getty Images for Glamour

Stuart Haselden is stepping down as CEO of smart luggage-maker Away, Axios has learned. He'll be succeeded on an interim basis by company co-founder Jen Rubio, and an outside search firm has been retained to find a permanent successor.

Why it matters: Haselden, formerly with Lululemon, appeared to have established executive stability at Away, whose co-founder Steph Korey previously resigned as CEO before retaking the reins alongside Haselden and then resigning again.

Kendall Baker, author of Sports
2 hours ago - Sports

2021 Tokyo Olympics hang in the balance

Illustration: Aïda Amer/Axios

10 months ago, the Tokyo Olympics were postponed. Now, less than six months ahead of their new start date, the dreaded word is being murmured: "canceled."

Driving the news: The Japanese government has privately concluded that the Games will have to be called off, The Times reports (subscription), citing an unnamed senior government source.

Biden's centrist words, liberal actions

Illustration: Sarah Grillo/Axios

President Biden talks like a soothing centrist. He promises to govern like a soothing centrist. But early moves show that he is keeping his promise to advance a liberal agenda.

Why it matters: Never before has a president done more by executive fiat in such a short period of time than Biden. And those specific actions, coupled with a push for a more progressive slate of regulators and advisers, look more like the Biden of the Democratic primary than the unity-and-restraint Biden of the general election.