Daily Crunch - Zoom reports spectacular growth

TechCrunch Newsletter [TechCrunch logo]( [The Daily Crunch logo]( Wednesday, June 03, 2020 • By [Anthony Ha]( Zoom’s 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. Here’s your Daily Crunch for June 3, 2020. [Remote work helps Zoom grow 169% in one year, posting $328.2M in Q1 revenue]( Zoom’s 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. 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](. [Read more]( [Remote work helps Zoom grow 169% in one year, posting $328.2M in Q1 revenue image] Image Credits: Kena Betancur / Getty Images [Brands see 18.5% of online e-commerce revenue from SMS marketing]( Sponsored by [Attentive]( [Text messaging has quickly become a top revenue channel for businesses to connect with mobile consumers. See how 8 leading brands use text message marketing to engage subscribers, capture sales from abandoned carts, and drive incremental revenue.]( [Read more]( [SoftBank launches $100M+ Opportunity Growth Fund to invest in founders of color]( The Opportunity Growth Fund “will only invest in companies led by founders and entrepreneurs of color,” according to an internal memo from SoftBank’s COO Marcelo Claure, who said the fund will initially start with $100 million — meaning there is room for SoftBank or other limited partners to add more over time. [Read more]( [Google pulls ‘Remove China Apps’ from Play Store]( 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’s marquee app store for violating Google Play Store’s Deceptive Behavior Policy. [Read more]( [Google pulls ‘Remove China Apps’ from Play Store image] [Facebook and PayPal invest in Southeast Asian ride-hailing giant Gojek]( 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. [Read more]( [The fundraising marketplace has stabilized. Or has it?]( DocSend CEO Russ Heddleston said the last two weeks could be establishing a new normal for fundraising this year. Even though most VCs aren’t 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.) [Read more]( [The fundraising marketplace has stabilized. Or has it? image] Image Credits: Steven Puetzer / Getty Images [Venture firms rush to find ways to support Black founders and investors]( 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’ motivations. [Read more]( [Lili raises $10M for its freelancer banking app]( CEO Lilac Bar David suggested that no traditional banking solutions are really designed to solve the problems faced by freelancers — whether they’re designers, programmers, fitness instructors, chefs or beauty professionals. She described Lili as the first “all-in-one” solution, offering both a bank account and a broader suite of financial tracking tools. [Read more]( [Read more stories on TechCrunch.com]( Newest Jobs from Crunchboard - [iOS Application Developer for Fitness Industry at Flex (Boulder, CO, USA)]( - [Senior Manager, Financial Systems at The Pew Charitable Trusts (Washington, D.C., USA)]( - [Lead Product Developer at BUNKR Life (Saint Petersburg, FL, USA)]( - [Senior Systems & Network Administrator at New Mexico Institute of Mining & Technology (Socorro, NM, USA)]( - [Full Stack Developer at The Wally Shop (Anywhere)]( [See more jobs on CrunchBoard]( [Post your tech jobs]( and reach millions of TechCrunch readers for only $200 per month. [Facebook]( [Twitter]( [Youtube]( [Instagram]( [Flipboard]( [View this email online in your browser]( [Privacy Policy]( | [Terms of Service]( | [Unsubscribe]( © 2020 Verizon Media. All rights reserved. 110 5th St, San Francisco, CA 94103