{"id":19016,"date":"2020-06-04T05:36:29","date_gmt":"2020-06-04T05:36:29","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/daily-crunch-zoom-reports-spectacular-growth.html"},"modified":"2020-06-04T05:36:29","modified_gmt":"2020-06-04T05:36:29","slug":"daily-crunch-zoom-reports-spectacular-growth","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/daily-crunch-zoom-reports-spectacular-growth.html","title":{"rendered":"Daily Crunch: Zoom reports spectacular growth"},"content":{"rendered":"

Zoom\u2019s <\/a> latest earnings report was even better than expected, SoftBank announces a new fund to invest in founders of color and Google pulls a trending app that targets apps from China.<\/p>\n

Here\u2019s your Daily Crunch for June 3, 2020.<\/p>\n

1. Remote work helps Zoom grow 169% in one year, posting $328.2M in Q1 revenue<\/a><\/strong><\/p>\n

Zoom\u2019s customer numbers were similarly sharp, with the firm reporting that it had 265,400 customers with more than 10 seats (employees) at the end of the quarter, which was up 354% from the year-ago period.<\/p>\n

Not all of the news coming out of its latest earnings report was positive, however. CEO Eric Yuan confirmed that a plan to implement end-to-end encryption does not in fact extend to non-paying users<\/a>.<\/p>\n

2. SoftBank launches $100M+ Opportunity Growth Fund to invest in founders of color<\/a><\/strong><\/p>\n

The Opportunity Growth Fund \u201cwill only invest in companies led by founders and entrepreneurs of color,\u201d according to an internal memo from SoftBank\u2019s COO Marcelo Claure, who said the fund will initially start with $100 million \u2014 meaning there is room for SoftBank or other limited partners to add more over time.<\/p>\n

3. Google pulls \u2018Remove China Apps\u2019 from Play Store<\/a><\/strong><\/p>\n

The top trending app in India, which was downloaded more than 5 million times since late May and enabled users to detect and easily delete apps developed by Chinese firms, was pulled from Android\u2019s marquee app store for violating Google Play Store\u2019s Deceptive Behavior Policy.<\/p>\n

4. Facebook and PayPal invest in Southeast Asian ride-hailing giant Gojek<\/a><\/strong><\/p>\n

Facebook and PayPal are joining Google and Tencent as high-profile tech firms that have backed the five-year-old Southeast Asian ride-hailing startup, which also offers food delivery and mobile payments.<\/p>\n

5. The fundraising marketplace has stabilized. Or has it?<\/a><\/strong><\/p>\n

DocSend CEO Russ Heddleston said the last two weeks could be establishing a new normal for fundraising this year. Even though most VCs aren\u2019t taking in-person meetings, they were more active in the past month than they were in May of both 2019 and 2018. (Extra Crunch membership required.)<\/p>\n

6. Venture firms rush to find ways to support Black founders and investors<\/a><\/strong><\/p>\n

Firms like Benchmark, Sequoia, Bessemer, Eniac Ventures, Work-Bench and SaaSTR Fund founder Jason Lemkin all tweeted in support of the cause and offered to take steps to improve the lack of representation in their industry. But some Black entrepreneurs and investors are questioning the firms\u2019 motivations.<\/p>\n

7. Lili raises $10M for its freelancer banking app<\/a><\/strong><\/p>\n

CEO Lilac Bar David suggested that no traditional banking solutions are really designed to solve the problems faced by freelancers \u2014 whether they\u2019re designers, programmers, fitness instructors, chefs or beauty professionals. She described Lili as the first \u201call-in-one\u201d solution, offering both a bank account and a broader suite of financial tracking tools.<\/p>\n

The Daily Crunch is TechCrunch\u2019s roundup of our biggest and most important stories. If you\u2019d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here<\/a>.<\/em><\/p>\n

\"\"<\/a><\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/RTf1ThiHZck\/<\/p>","protected":false},"excerpt":{"rendered":"

Zoom\u2019s latest earnings report was even better than expected, SoftBank announces a new fund to invest in founders of color and Google pulls a trending app that targets apps from <\/p>\n","protected":false},"author":1,"featured_media":19017,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-19016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t