☕️ Nasdaq's demands

The $28 billion tie-up that will change the software industry... December 02, 2020 [View Online]( | [Sign Up]( [Daily Brew]( TOGETHER WITH [Manscaped]( Good morning. Since it’s bound to be the main topic of Zoom conversations this week, let’s do a 15-second intro on the great mystery of our time: the Utah monolith. Over a week ago, people spotted a metal monolith about 10–12 ft. tall in a remote section of the Utah desert. No one knows how it got there or why. Then, on Friday night, four men dismantled the monolith and left without a trace, according to a photographer on the scene. - While all that was going on, a similar-looking monolith appeared and subsequently vanished in Romania. Marketing stunt? Art project? Aliens? Discuss. MARKETS NASDAQ 12,355.11 + 1.28% S&P 3,662.45 + 1.13% DOW 29,823.92 + 0.63% GOLD 1,819.20 + 2.15% 10-YR 0.928% + 8.40 bps OIL 44.40 - 2.07% *As of market close - Markets: The S&P started December where it left off in November, notching a [record closing high](. - Election: Attorney General William Barr told the AP that the Dept. of Justice has [not found evidence]( of voter fraud that would change the outcome of the election, contradicting President Trump’s repeated allegations. - Stimulus: A bipartisan group of senators proposed a [$908 billion]( coronavirus relief package. Highlights include $300/week in federal unemployment benefits and $160 billion for state and local governments. Lowlights include Senate Majority Leader Mitch McConnell [rejecting it]( (he’s circulating his own plan). SOFTWARE [Introducing Slackforce]( [Slack logo on a cloud ] Francis Scialabba Software-as-a-service pioneer Salesforce [announced]( in an earnings call yesterday that it will buy workplace management app Slack for $27.7 billion in cash and stock. So like your friend's new SO you haven't been able to evaluate in person yet, let's pass judgment on this pairing from afar. For Salesforce: Slack [will join]( analytics company Tableau and cloud provider Vlocity in Salesforce's growing stable of business services offerings. Salesforce has been buying up enterprise-oriented companies in a bid to fulfill every workplace need outside of book club—and Slack is Salesforce's biggest purchase to date. - Salesforce bulls say it's bulking up in all the right ways, though some analysts [argue]( it may be straying too far from its core business: software for managing sales. For Slack: Camping out under Salesforce's tent means more resources, plus new relationships with c-suites around the world thanks to the behemoth's existing customer base. - With tens of millions forced to work from home, Slack's first half of 2020 was a financial party parrot. But in September it missed earnings expectations and shares tanked 19%. - The company went public via direct listing in June 2019 and shares haven't budged much since. It also hasn't turned a profit. No need to worry about your favorite gossip channel disappearing; the WaPo writes that Slack's impressive brand loyalty will likely keep Salesforce from meddling too much in the app you know and love/dread. Zoom out: Salesforce and Slack have a common, four-paned enemy: Microsoft. Microsoft's workplace management play, Teams, is an increasingly painful thorn in Slack's side, while Salesforce lost an arm-wrestling match for LinkedIn with Microsoft in 2016. Bottom line: Software acquisitions have been [as few and far between]( in 2020 as hugs or concerts. The shift to remote catapulted the industry, inflating valuations and putting potential buyouts out of reach. But added competition, from Google and Zoom as well as Microsoft, brought Slack back down to what Salesforce considered a reasonable price. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=Why%20SaaS%20Giant%20Salesforce%20Bought%20Slack%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2020%2F12%2F01%2Fwent-dms%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A HEALTHCARE [Priority Boarding: Vaccine Edition]( Covid-19 has changed a lot, particularly our enthusiasm for Tuesday afternoon CDC webcasts. Yesterday, 14 members of the agency's Advisory Committee on Immunization Practices (ACIP) [voted on]( one very important question: [Who should get vaccinated first](? What they decided: Phase 1 of Phase 1 is *drumroll please* [healthcare personnel]( and long-term care facility (LTCF) residents. Healthcare heroes are a no-brainer, but the other group? Not a simple decision. - LTCF staff and residents, despite making up just 6% of Covid cases, account for 39% of U.S. deaths. But vaccine clinical trials typically include younger, healthier volunteers, so efficacy among groups like nursing home residents is less clear. The next round of Phase 1 will include essential workers, people with underlying health conditions, and adults 65+. The vaccine scene: Pfizer and Moderna have requested emergency use authorization for their Covid-19 vaccines. If the FDA approves both of them, 40 million doses could be available by year-end.  Looking ahead...if CDC Director Robert Redfield approves ACIP's decision, this guidance will be sent to the states. Friday's the deadline for states to decide where to ship their first vaccine orders. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=CDC%20Vaccine%20Panel%20Votes%20to%20Prioritize%20Healthcare%20Workers%2C%20Long%20Term%20Care%20Residents%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2020%2F12%2F01%2Fcdc-vaccine-panel-votes-prioritize-healthcare-workers-long-term-care-residents%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A DIVERSITY & INCLUSION [The Nasdaq Waits for No Man]( [A photograph of the Nasdaq building lit up at night in Times Square.] Getty Images Yesterday, Nasdaq [asked]( the Securities and Exchange Commission if it can require all 3,300+ companies that trade on its exchange to... - Publicly disclose diversity statistics about their boards of directors. - Have at least two diverse directors (one woman, one who identifies as an underrepresented minority and/or LGBTQ). If the SEC says yes...boards have two years to bring on at least one diverse director and 2–3 more to hire the second. If they miss the deadline and fail to provide a sufficient explanation of why they missed it, they could get delisted.  - Over three-quarters of Nasdaq-listed companies can't meet that benchmark today. Big picture: Corporate America has made [slow progress]( improving diversity at the top. In 2018, women held just 22% of Fortune 500 board seats. From 2010–2018, seats held by Black directors increased just one percentage point to 9%. The Nasdaq would be the first major exchange to impose such requirements, but [it's not alone]( in pushing for board diversity. California requires at least one diverse director for companies headquartered in the state, and Goldman Sachs does as well to underwrite an IPO. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=Nasdaq%20Proposes%20Board%20Diversity%20Requirements%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2020%2F12%2F01%2Fnasdaq-proposes-board-diversity-requirements%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A SPONSORED BY MANSCAPED [Don’t Forget the Holiday Trimmings](#) [Manscaped]( It’s the time of year where holiday trimmings take center stage. And by trimmings, we mean giving the [gift of grooming](. And by grooming, we mean treating your sensitive areas to the power of [MANSCAPED](™’s precision-engineered trimming tools. MANSCAPED™ has the gifts that will leave the men in your life speechless and hairless—below the waist, that is. There’s no better way to shed your winter coat than with the [MANSCAPED™ Performance Package](. You could say it’s the ultimate package for any man’s package. It includes [The Lawn Mower™ 3.0](, the only trimmer with SkinSafe™ Technology that leaves you snag and nick-free. Its waterproof no-slip grip, LED light, and compact design help you navigate all your delicate nooks and crannies. [MANSCAPED™ is giving readers 20% off]( the gift on every man’s wish list, which means you have no excuse to forget the trimmings this holiday season. [Shop MANSCAPED™’s Cyber Week sale today]( and get free shipping on every order. STARTUP [Trendspotting]( [17 August 2020, Berlin: Electric scooters of the rental provider voi. ar...] Picture Alliance/Getty Images Want to spot the hottest industries? Easy—follow the money. Here are a few recent deals from fast-growing sectors. Micromobility: Voi, a Swedish scooter rental startup, [raised $160 million]( to help it expand in Europe. While U.S. e-scooter hotshots Lime and Bird have struggled this year, Voi is hoping a slower and friendlier approach with city officials will lead to sustainable growth. AI: Many companies say they "use artificial intelligence" to solve problems. Scale AI, which yesterday [raised $155 million]( at a monster valuation of $3.5 billion, gives companies the behind-the-scenes tools to help them actually put AI to work. Freight tech: Flock Freight, a startup that [streamlines]( truck shipments using algorithms, closed a $113.5 million round led by SoftBank's Vision Fund 2. It's one of many well-funded companies looking to disrupt the—how do we put this kindly—mature freight sector. Customer engagement: SoftBank (yep, them again) took a [10.1% stake]( in Sinch, a cloud-based provider of customer engagement services out of Sweden (yep, them again). With more consumers interacting with brands over the internet, Sinch is the top-performing stock on the Stoxx Europe 600 index this year. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=Startups%20in%20Micro%20Mobility%2C%20Freight%20Tech%2C%20and%20Customer%20Engagement%2C%20Announce%20Deals%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2020%2F12%2F01%2Fstartups-micro-mobility-freight-tech-customer-engagement-announce-deals%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A FOOD [You Can Eat This Today If You’d Like]( [McRib] PAUL J. RICHARDS/AFP via Getty Images The famous McRib [returns to McDonald's menus]( today. Half of you are thinking, "Couldn't care less, that's disgusting," while the other 50% have had this date circled on their calendars for the past few months.  One thing we will say about this polarizing delicacy: This year's rollout is different. While the McRib (a sort of barbecue boneless pork sandwich, if we had to describe it) has temporarily popped up on McDonald's menus for years, it hasn't been introduced nationwide since 2012. Today, it's coming to all 14,400 McDonald's locations in the U.S. Bottom line: Everyone says Snapchat pioneered disappearing content but, long before Stories was invented, McDonald's understood how ephemeral products can drive feverish demand. + Did you know: Germany is the only country that's [served the McRib]( all year round. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=The%20McRib%20Returns%20to%20McDonald%E2%80%99s%20in%20Nationwide%20Rollout%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2020%2F12%2F01%2Fmcrib-returns-mcdonalds-nationwide-rollout%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A WHAT ELSE IS BREWING - [Cyber Monday]( sales hit $10.8 billion, per Adobe Analytics. That makes it the top e-commerce shopping day in U.S. history. - [Reddit]( disclosed it had 52 million daily average users in October, up 44% from last year. - [Airbnb's]( aiming for a valuation of up to $35 billion in its upcoming IPO. - [Kohl's]( stock popped 13% after it announced a partnership to open hundreds of Sephora beauty shops inside its stores. - [Libra Association](, the Facebook-backed cryptocurrency consortium, is rebranding as "Diem" ahead of its launch. - [BlackBerry]( shares gained nearly 20% after announcing a deal with Amazon Web Services. The company's ditched smartphones for security software...and it's paying off. SPONSORED BY BOSE [Bose]( Ear ye, ear ye. Your ears are gonna want to read this. [Bose QuietComfort® Earbuds]( are the world’s most effective noise-cancelling headphones. Not only can you hear your music exactly as the artist intended, but you won’t hear anything else thanks to their 11 levels of adjustable noise cancellation. [These earbuds will be your best buds.]( BREW'S BETS Need a post-holiday reset? [Sakara is offering 20%]( off their Metabolism Super Powder that can help you debloat after an indulgent meal (or ten). Treat yourself to their digestion-improving metabolism super powder for 20% off [here](.* Join the great fintech revolution. [Gatsby]( helps investors leverage the fast-growing options market in a digestible, responsible way. More than $14 trillion of options contracts were traded in 2019, and 2020 is gonna shatter that. [Invest in Gatsby today](.* Productivity tip: Try using the [Eisenhower Matrix]( to sort out your to-do list. Live from quarantine: It's Walter Cronkite [showing off]( a then-futuristic home office. How is it pronounced, again? Here are the 25 [most-viewed GIFs]( on Giphy this year. *This is sponsored advertising content GAMES [Music Trivia](#) Spotify just released its year-end “[Wrapped](” list with the most popular artists, albums, and podcasts of 2020 (make sure to check your personal Wrapped, too). Can you guess the leaders of the following categories? - Most streamed artist - Most streamed female artist - Most streamed song - Most popular podcast SHARE THE BREW When you [share the Brew]( with your network, you earn free swag like our classic Morning Brew t-shirt. Are you one of those people who is always going places? Then you probably need a shirt. Might as well be this bad boy with the Morning Brew logo plastered across the chest. [Click here to get free swag.]( Hit the button below to learn more and access your rewards hub. [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=4904f90a]( ANSWER - Most streamed artist = Bad Bunny - Most streamed female artist = Billie Eilish - Most streamed song = The Weeknd’s “Blinding Lights” - Most popular podcast = The Joe Rogan Experience             Written by [Eliza Carter](, [Neal Freyman](, and [Alex Hickey]( Was this email forwarded to you? Sign up [here](. WANT MORE BREW?  Retail newsletter → [Retail Brew](  Tech newsletter → [Emerging Tech Brew](  Marketing newsletter → [Marketing Brew](  Recommendations newsletter → [Sidekick](  Business podcast → [Business Casual]( [ADVERTISE]( // [CAREERS]( // [SHOP]( Update your email preferences or unsubscribe [here](. View our privacy policy [here](. Copyright ©2020 Morning Brew. All rights reserved. 40 Exchange Pl., Suite #300, New York, NY 10005