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Livongo stock jumps over 10 percent on revised earnings guidance, pointing to digital health boom - techcrunch

Livongo stock jumps over 10 percent on revised earnings guidance, pointing to digital health boom

Livongo Health’s stock jumped over ten percent on a day that saw most exchanges tumble after a day of crazy volatility. The digital diagnostics and therapeutics company is benefiting from booming demand for digital health services as remote medicine takes center stage for beleaguered health care providers looking to keep treating patients while also responding […]
techcrunch - 14 minutes ago
Hong Kong fintech startup Neat raises $11 million Series A to give small companies more banking services - techcrunch

Hong Kong fintech startup Neat raises $11 million Series A to give small companies more banking services

Neat, a Hong Kong-based fintech startup, announced today that it has raised a $11 million Series A to help small businesses do cross-border banking. The round was led by Pacific Century Group, with participation from Visa and MassMutual Ventures Southeast Asia, and returning investors Dymon Asia Ventures, Linear Capital and Sagamore Investments. Neat also announced […]
techcrunch - 56 minutes ago
Tyto Care raises $50 million as it looks to buy and build new services during COVID-19 demand surge - techcrunch

Tyto Care raises $50 million as it looks to buy and build new services during COVID-19 demand surge

Tyto Care, the provider of a home health diagnostic device and telemedicine consultation app, said it has raised $50 million in a new round of funding. The round was led by Insight Partners, Olive Tree Ventures, and Qualcomm Ventures, according to a statement and brings the startup’s total capital raised to over $105 million. The […]
techcrunch - 2 hours ago
Restaurant management platform Toast cuts 50% of staff - techcrunch

Restaurant management platform Toast cuts 50% of staff

Last valued at $5 billion, restaurant management platform Toast has joined the sweep of startups laying off employees due to the economic impact of the COVID-19 pandemic. Toast reduced the size of its staff by 50% through layoffs and furloughs, according to a blog post from Toast’s CEO, Chris Comparato. It also reduced executive pays […]
techcrunch - 3 hours ago
This low-flying growth equity firm, with payments and logistics bets, just closed a $255 million fund - techcrunch

This low-flying growth equity firm, with payments and logistics bets, just closed a $255 million fund

Activant Capital, a seven-year-old, Greenwich, Ct.-based growth equity firm that’s still making a name for itself, has managed to secure $255 million in fresh capital commitments, despite that the U.S. economy appears to be headed into a recession. It’s something of a coup for founder Steve Sarracino. It also begs the question: who is Steve […]
techcrunch - 3 hours ago
NASA puts $7M towards long-shot research, from moon mining to solar lenses - techcrunch

NASA puts $7M towards long-shot research, from moon mining to solar lenses

NASA’s Innovative Advanced Concepts program is all about making high-risk, high-reward bets on unique — and sometimes eyebrow-raising — ideas for space exploration and observation. This year’s grants total $7M and include one of the most realistic projects yet. It might even get made! NIAC awards are split into three tiers: Phase I, II, and […]
techcrunch - 4 hours ago
Jack Dorsey creates $1B COVID-19 relief fund using Square equity - techcrunch

Jack Dorsey creates $1B COVID-19 relief fund using Square equity

Jack Dorsey announced in a series of tweets today that he is shifting $1 billion in his Square equity to create a fund dedicated to COVID-19 relief. The Twitter and Square CEO is calling the fund Start Small and posting a tally of disbursements and recipients in a public spreadsheet. Dorsey said in his announcement […]
techcrunch - 4 hours ago
Tech shares close down on the day despite roaring start - techcrunch

Tech shares close down on the day despite roaring start

American equities closed down today, with the major domestic indices all losing ground after a wild trading cycle. After starting the day up sharply higher after strong Monday gains, those gains were erased as the day closed. It was a day of confusing movement; the tech-heavy Nasdaq Composite, to pick an example, had a range […]
techcrunch - 4 hours ago
PlayStation 5’s new DualSense controller is a sleek and futuristic gaming accessory - techcrunch

PlayStation 5’s new DualSense controller is a sleek and futuristic gaming accessory

Sony has revealed the design of the PlayStation 5‘s controller – a follow-on to its popular DualShock line that takes on a new name for a new generation: DualSense. The DualSense controller is kitted out in black and white, and looks like a futuristic, plastic armor-plated robot companion more than a gamepad in some ways. […]
techcrunch - 5 hours ago
Away, the high-flying travel brand startup, just furloughed half its employees and laid off 10% - techcrunch

Away, the high-flying travel brand startup, just furloughed half its employees and laid off 10%

Pretty much everyone is getting socked by the Covid-19 shutdown. Among the latest to say so in a public way is Away, the trendy, five-year-old, New York-based travel brand that has raised roughly $180 million from investors over the years, including a $100 million round last year that pegged the company’s valuation at $1.4 billion […]
techcrunch - 5 hours ago
Netflix now lets you lock your personal profile with a PIN to keep kids (and roommates) out - techcrunch

Netflix now lets you lock your personal profile with a PIN to keep kids (and roommates) out

Want to let your kids poke around Netflix without them wandering their way beyond the kids section? Got a roommate who keeps inexplicably forgetting to use their profile and is totally screwing up your “Continue Watching” list? Good news! Netflix is now letting users set a PIN to keep individual profiles locked down. The new […]
techcrunch - 5 hours ago
Nuro gets OK to test its driverless delivery vehicles on California public roads - techcrunch

Nuro gets OK to test its driverless delivery vehicles on California public roads

Autonomous delivery startup Nuro has been granted a permit to begin driverless testing on California’s public roads, paving the way for the company to roll out commercial operations throughout the state. Nuro, which raised $940 million from SoftBank Vision Fund last year, is allowed to put two of its low-speed electric R2 delivery vehicles on […]
techcrunch - 6 hours ago
SpaceX and NASA test the system Crew Dragon staff would use to exit the launch area in an emergency - techcrunch

SpaceX and NASA test the system Crew Dragon staff would use to exit the launch area in an emergency

SpaceX and NASA are in the process of final preparations prior to launching their first crewed spaceflight mission – Demo-2, which is technically still a demonstration mission needed to validate SpaceX’s Crew Dragon for transporting humans during regular flight. But actual astronauts Bob Behnken and Doug Hurley will be on board the historic flight, which […]
techcrunch - 6 hours ago
Dear Sophie: Is unemployment considered a public benefit? - techcrunch

Dear Sophie: Is unemployment considered a public benefit?

Would getting unemployment benefits hurt my or my spouse’s green card petition under the new public charge rule?
techcrunch - 6 hours ago
Facebook ships an experimental app for couples - techcrunch

Facebook ships an experimental app for couples

Today, Facebook quietly released a new app for couples called Tuned. The new release is a multimedia messaging app designed to help significant others communicate. The app is available for download in the U.S. and Canada, app analytics firm Sensor Tower tells us. Tuned was developed and released by Facebook’s New Product Experimentation (NPE) team. […]
techcrunch - 6 hours ago
SpaceX’s first operational version of Dragon successfully ends its 20th and final mission - techcrunch

SpaceX’s first operational version of Dragon successfully ends its 20th and final mission

SpaceX has been resupplying the International Space Station (ISS) since it began flying cargo missions on behalf of NASA in 2012. Now, the version of the Dragon capsule that SpaceX first employed to fly those missions is retiring, after one of the spacecraft based on that design splashed down in the Atlantic Ocean on Tuesday […]
techcrunch - 6 hours ago
TechCrunch Live: Join execs from Roblox, SuperAwesome, and Fingerprint tomorrow at 11:15am PDT to discuss kids media - techcrunch

TechCrunch Live: Join execs from Roblox, SuperAwesome, and Fingerprint tomorrow at 11:15am PDT to discuss kids media

With large majorities of all children (70% in the U.S. and U.K.) staying home from school during the COVID-19 crisis, use of digital media properties popular with kids has soared. Screen time among kids in the U.S. is up 50% according to research by SuperAwesome . This adds momentum to a space that has already […]
techcrunch - 6 hours ago
Relativity Space’s focus on 3D printing and cloud-based software helps it weather the COVID-19 storm - techcrunch

Relativity Space’s focus on 3D printing and cloud-based software helps it weather the COVID-19 storm

Just like in almost every other industry, there’s been a rash of layoffs among newer space startups and companies amid the novel coronavirus crisis. But Relativity Space has managed to avoid layoffs – and is even hiring, despite the global pandemic. Relativity CEO and founder Tim Ellis cites the company’s focus on large-scale 3D printing, […]
techcrunch - 7 hours ago
Movies Anywhere launches movie-sharing feature ‘Screen Pass’ into open beta - techcrunch

Movies Anywhere launches movie-sharing feature ‘Screen Pass’ into open beta

Last month, it was reported that digital locker service Movies Anywhere was working to launch a movie-sharing feature called “Screen Pass.” At the time, the feature was only available in limited, private beta testing with a plan to fully roll it out late summer or early fall. But as a result of increased demand from […]
techcrunch - 7 hours ago
A payments provider for paying court fines and utility bills exposed years of transactions - techcrunch

A payments provider for paying court fines and utility bills exposed years of transactions

A payments processor used by local governments to collect court fines and utility bill payments from residents across Arkansas and Oklahoma mistakenly left a cache of data, representing years of transactions, exposed on its website. Security researcher Ashot Oganesyan found a cache of database files in a public and unprotected web directory on the website […]
techcrunch - 7 hours ago
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techcrunch
Salesforce’s Benioff pledges no ‘significant’ layoffs for 90s days

Salesforce’s Benioff pledges no ‘significant’ layoffs for 90s days

techcrunch - 1 week ago

In a Twitter thread on Tuesday, Salesforce CEO Marc Benioff, outlined an 8-step plan to keep people safe, find treatments and a vaccine for the COVID-19 virus, while working to find a way to get people back to work safely. He also asked that all CEOs take “a 90 day no lay off pledge” to help everyone get through the crisis.

The same day, he posted another tweet pledging to not make any “significant” layoffs for 90 days.” When TechCrunch asked Salesforce to comment on the difference between the two tweets, the company chose not to comment any further on the matter and let the tweets stand on their own.

It sounds like Benioff’s second tweet, which also asked employees to consider paying their own hourly workers like housekeepers and dog walkers throughout the layoff period whether they were working or not, was designed to give the CEO some wiggle room for at least some layoffs.

Salesforce has almost 50,000 employees worldwide. Even if the company were to lay off just 1% of employees it would equal 500 people without jobs, though its not clear if that would count as significant. Perhaps more likely, the company might make some cuts to staff for performance or HR-related reasons, but not broad cuts, and thus make both of its CEOs claims essentially true.

Salesforce is a wildly successful company. It celebrated its 20th anniversary last fall and has grown from pesky startup to a software behemoth with a projected revenue of over $20 billion for FY2021. It’s currently got almost $8 billion in cash-and-equivalents-on-hand. Certainly companies who use Salesforce’s products will continue to need them, even with the workforce at home.

While it could have an impact on that projection for FY2021 and its ability to land new customers this quarter, it seems like it has the money and revenue to ride out the situation for the short term without making any moves to reduce headcount at this critical time.

sauce: techcrunch
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